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State Farm Questions & 100% Correct Answers $10.49   Add to cart

Exam (elaborations)

State Farm Questions & 100% Correct Answers

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  • Course
  • State Farm Auto
  • Institution
  • State Farm Auto

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 ...

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  • September 13, 2024
  • 20
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • State Farm Auto
  • State Farm Auto
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ExamArsenal
1 | P a g e | © copyright 2024/2025 | Grade A+




State Farm Questions & 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




Master01 | September, 2024/2025 | Latest update

, 2 | P a g e | © copyright 2024/2025 | Grade A+



What are the 3 principle rating factors for personal auto

✓ ~~> 1) safe driving record 2) annual miles driving 3) years of driving

experience




Fail Plan doesn't not encourage

✓ ~~> Competition




Loss exposures that results in a claim for monetary damage due to injury to

another or damage to another's property?

✓ ~~> Liability Loss Exposure




The persons whose property is being insured is the

✓ ~~> Insured




The person seeking for damage is the

✓ ~~> Claimant




When the insurer cancels, the premium is refunded

✓ ~~> Pro-Rata




Representation can qualify as an


Master01 | September, 2024/2025 | Latest update

, 3 | P a g e | © copyright 2024/2025 | Grade A+



✓ ~~> Implied Warranty




Fire Dep. service charge, reason repairs and debris removal are considered

what on an HO?

✓ ~~> Additional Charges




In an HO coverage for fair rental is included in

✓ ~~> Coverage D




How is combined ratio computed?

✓ ~~> Adding Loss + Expense Ratio




Not purchasing collision coverage for your car is an example of risk

✓ ~~> Retention




Not purchasing a motorboat is an example of

✓ ~~> Avoidance/ elimination




Installing sprinkler system in your home is an example of risk

✓ ~~> Reduction




Master01 | September, 2024/2025 | Latest update

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