State farm property exam Study guides, Class notes & Summaries
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STATE FARM PROPERTY EXAM 2024 WITH 100% CORRECT ANSWERS
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STATE FARM PROPERTY EXAM 2024 WITH 100% CORRECT ANSWERS 
 
 
In property insurance actual cash value is defined as which of the following - correct answer Replacement cost at the time of the loss, less depreciation 
 
Peril is most easily defined as - correct answer the cause of loss insured against 
 
What is a leading factor in the determination of actual cash value - correct answer replacement cost 
 
Replacement cost is defined as - correct answer full replacement of property at its current ...
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State Farm Property Exam Questions with 100% Correct Answers
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State Farm Property Exam Questions with 100% Correct Answers 
A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. 
Abandonment Condition 
 
 
A loss that occurs at a specific time and place 
Accident 
 
 
Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. 
Actual Cash Value (ACV) 
 
 
Company that meets a state insurance d...
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State Farm Fire Independent Policy Exam Latest 2022/2023 Graded A+
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State Farm Fire Independent Policy Exam questions and answers ( A+ GRADED 100% VERIFIED) LATEST 2022/ 2023 Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments ...
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NJ PSI Property and Casualty Exam with 100% Correct Answers 2023
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NJ PSI Property and Casualty Exam with 
100% Correct Answers 2023 
The Mobile Home Endorsement of a Homeowners policy affords coverage to mobile 
homes under the? 
A. HO-1 (Basic Form) 
B. HO-2 (Broad Form) 
C. HO-3 (Special Form) 
D. HO-2 or HO-3 (Broad and Special) - Correct Answer-D. HO-2 or HO-3 (Broad and 
Special) 
All of the following are eligible for coverage under Homeowners policy except? 
A. A condominium unit owner. 
B. A farm owner. 
C. A mobile home owner. 
D. A tenant in an apartm...
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Florida Real Estate Exam Questions With Solutions Latest Updated 2023-2024 Rated 100%
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Florida Real Estate Exam Questions With Solutions Latest Updated Rated 100%. In which form of co-ownership is a person's ownership inheritable? a. Joint tenancy 
b. Tenancy by the entirety 
c. Tenancy in common 
d. Tenancy in severalty 
c. Tenancy in common allows for a persons share to be inheritable, it does not automatically pass 
forth to the rest of the owners like in joint tenancy (this is called the right of survivorship). 
Florida Real Estate Exam Questions With 
Complete Solutions Lat...
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State Farm Property Exam Questions and Answers
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State Farm Property Exam Questions and Answers 
In property insurance actual cash value is defined as which of the following 
Replacement cost at the time of the loss, less depreciation 
 
 
Peril is most easily defined as 
the cause of loss insured against 
 
 
What is a leading factor in the determination of actual cash value 
replacement cost 
 
 
Replacement cost is defined as 
full replacement of property at its current cost, new and without reduction for depreciation 
 
 
Property insura...
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State Farm Property Exam Questions with 100% Correct Answers
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State Farm Property Exam Questions with 100% Correct Answers 
Who owns thier renewals 
Independents 
 
 
Events that may NOT be recovered by insurance are 
Gambling, investing, market value of home 
 
 
What underlying coverages typically are required for an umbrella 
Auto and Personal 
 
 
Conditions that prohibit assignments of the policy 
Transfer of rights and duties 
 
 
Expectant interest are 
Not insured 
 
 
Flood, power failure and earth movement are 
Excluded on DP & HO 
 
 
What are t...
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STATE FARM PROPERTY AND CASUALTY EXAM STUDY RATED A.
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STATE FARM PROPERTY AND CASUALTY EXAM STUDY RATED A.
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State Farm Property Exam 2024 Questions with 100% Correct Answers | Verified | Latest Update
- Exam (elaborations) • 8 pages • 2024
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State Farm Property Exam 2024 Questions with 100% Correct Answers | Verified | Latest Update
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State Farm Property Exam 2023-2024 Questions & Answers (Solved)
- Exam (elaborations) • 7 pages • 2023
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State Farm Property Exam 
2023-2024 Questions & Answers (Solved) 
State Farm Auto Adjuster Certification State Farm Auto Exam State Farm Casualty Exam State Farm Estimatics Exam State Farm Exam State Farm Fire Independent Policy Exam State Farm Management State Farm Property Exam State Farm Vocabulary Exam
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