Package deal for STATE FARM ESTIMATICS PRACTICE EXAM TEST WITH 100% CORRECT ANSWERS

Competitive Bids - CORRECT 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 settlem...

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 cas...

What are Special Limits of Liability? - CORRECT ANSWER-These limits do not increase the Coverage B limit. The special limit for each of the following categories is the total limit for each loss for all property in that category: money, coins and medals, including any of these that are a part o...

You're preparing an estimate on a customer's vehicle that requires refinishing of the hood and right front fender only. The hood is the first panel listed on the estimate. According to most Collision Estimating Guides, would refinish overlap be applicable on the hood? Choose the most correct...

Abandonment Condition - CORRECTANSWER-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. Accident - CORRECTANSWER-A loss that occurs at a specific time and place ...

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...

Insurance producer - CORRECT ANSWER-An individual or an entity authorized in writing by a lawfully qualified insurance compnay to transact, negotiate or effect contracts of insurance of behalf of that insurance company. Resident Producer - CORRECT ANSWER-Any person that lives in kansas and is ...

ACV - CORRECT ANSWER-actual cash value After Market Parts - CORRECT ANSWER-Parts produced by a 3rd party for use on automobiles. Betterment - CORRECT ANSWER-An improvement made to and automobile that increases its value, rather than a repair that simply maintains its current value BL - CORREC...

Special Limits of Liability for 1. money - CORRECT ANSWER-$200 for money or coins whats covered under dwelling - CORRECT ANSWER-tures attached to dwelling ials/supplies on or adjacent to residence premises for construction use or alteration of the premises. ation, footings, floor slabs suppo...