State Farm bundled exams with complete solution

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...

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 Rep...

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

Select Service Program - 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 vehi...

Competitive Bids - 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,...

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 sta...

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.