STATE FARM 2023 LATEST BUNDLE/ 1000+ QUESTIONS AND VERIFIED ANSWERS

State Farm Pure risk ANSWER- Financial loss is the only possible outcome, no chance for financial gain (ex: accidents, sickness, fire, disabilities) Speculative Risk ANSWER- Where there is an outcome for either financial gain or none (ex: gambling, stock market, real estate) Morale Hazards ...

State Farm 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 hei...

State Farm Estimatics Exam 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.

State Farm Property collapse ANSWER-coverage involving a building, or any part of the it suddenly falling into pieces or entirely falling down must be directly caused by - perils described in section 1 losses insures, and coverage b personal property - hidden decay - hidden insect damage ...

STATE FARM PROPERTY AND CASUALTY duties of the insured ANSWER- 1. pay the premium 2. take all reasonable means to save and protect the property from loss 3. give the insurance company immediate notice of loss 4. give the insurance company proof of loss within 60 days of the loss 5. separat...

State Farm Property 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 actua...

State Farm Terms and Acronym's App ANSWER- Application SFPP ANSWER- State Farm Payment Plan Auto ANSWER- Personal Auto Insurance Division Fire ANSWER- Personal Lines Fire Division Life ANSWER- Life Company Operations Center Health ANSWER- Health Company Operations Center PT ANS...

State Farm Training Liability ANS- Protects you if you are presumed by someone else because you hurt them No Fault/One way/PLPD ANS- Liability coverage only (no collision or comprehensive) Standard Collision ANS- Regardless of fault insured has to pay a deductible Broad collision ANS- In...

State Farm Training Liability ANS- Protects you if you are presumed by someone else because you hurt them No Fault/One way/PLPD ANS- Liability coverage only (no collision or comprehensive) Standard Collision ANS- Regardless of fault insured has to pay a deductible Broad collision ANS- In...

State Farm Training Liability ANS- Protects you if you are presumed by someone else because you hurt them No Fault/One way/PLPD ANS- Liability coverage only (no collision or comprehensive) Standard Collision ANS- Regardless of fault insured has to pay a deductible Broad collision ANS- In...

State Farm : Types of Property Policies An insured's accounts receivable records have been damaged. The loss may be covered with ANSWER-The accounts receivable coverage form How much is covered for deris removal for HO policy additional coverages? ANSWER-All reasonable costs Which situatio...

state farm Liability A - pays damages to bodily injury and property damange which you are responsible for. if sued it pays your defense and court costs. Liability B - only pays for property damage of others, also pays for defense and court costs no fault coverage p - pays 80% medical covera...

state farm Liability A - pays damages to bodily injury and property damange which you are responsible for. if sued it pays your defense and court costs. Liability B - only pays for property damage of others, also pays for defense and court costs no fault coverage p - pays 80% medical covera...

state farm Liability A - pays damages to bodily injury and property damange which you are responsible for. if sued it pays your defense and court costs. Liability B - only pays for property damage of others, also pays for defense and court costs no fault coverage p - pays 80% medical covera...