Study guides, Class notes & Summaries

State Farm Estimatics Exam Questions and Answers Graded A+ The formula for determining the area of a trapezoid is: Select the single best answer: A. [(Base1 + Base2) ÷ 2] x Height B. ½ Base x Height C. Base x Height D.

Abandonment - ANSWER The abdication of insured property into the hands of another, or into the possession of no one in particular. Absolute Liability - ANSWER A type of liability that occurs due to extremely dangerous operations, such as the use of explosives or working at extreme heights. Accident - ANSWER An unplanned, unforeseen event which occurs suddenly and at a specific place. Actual Cash Value (ACV) - ANSWER The required amount to pay damages or for property loss, which is calcu...

Competitive Bids - ANSWER The competitive bid process requires that two or more repairers submit competitive estimates or "bids" for a specific repair job. The amount of the low, complete bid is generally considered to be the "competitive" price and is used as the basis for settlement. In all cases, the vehicle owner selects the facility that will perform repairs. PCPs - ANSWER State Farm uses a continuous survey that gives repairers the opportunity to provide information online. The...

Hi my name is John from your local state farm agent - ANSWER The reason for this call is i see we have quoted you in the past and the great news is we have had a significant rate adjustment and some people are saving up to 40% in addition to it being really easy to switch to state farm. We can get you started for as little as $2. Who are you currently insured with? I am busy can you call me later? - ANSWER Oh ok no problem when would be a good time to call you back? Awesome it really sounds l...

Select Service Program - ANSWER In some market areas, repairers have been selected to participate in State Farm's Select Service Program. The program is designed to enhance claim service, increase efficiency, and afford customers an opportunity to select qualified repairers to inspect and estimate vehicle damage Paintless Dent repair - ANSWER Paintless Dent Repair (PDR) is an industry recognized repair process that involves the removal of hail dents or other types of damage from metal exteri...

In property insurance actual cash value is defined as which of the following - ANSWER Replacement cost at the time of the loss, less depreciation Peril is most easily defined as - ANSWER the cause of loss insured against What is a leading factor in the determination of actual cash value - ANSWER replacement cost Replacement cost is defined as - ANSWER full replacement of property at its current cost, new and without reduction for depreciation Property insurance that provides 100k cov...

state farm Final COMPLETE SOLUTION Questions with 100% Correct Answers which of the following refers to being restored to the financial condition you were in before a loss? - CORRECT ANSWER indemnification mark incurred 8000$ damage to his car in an accident. he received 8000$ from his insurance company and 4000$ from the other driver. by receiving a profit from the loss, Mark is in violation of.. - CORRECT ANSWER principle of indemnity the transfer of risk from one party to another...

State Farm Estimatics Questions and Answers (Completed) 2024/2025

State Farm Fire Independent Policy Exam Questions and Answers (Completed)

State farm certification - claims adjuster Questions and Answers (Completed) 2024/2025

State farm auto external claim Resource Certification Exam Questions and Answers (Completed) 2024/2025