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State Farm Property Exam 2025 Questions and Answers (2025 / 2026) (Verified Answers) $12.99
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Exam (elaborations)

State Farm Property Exam 2025 Questions and Answers (2025 / 2026) (Verified Answers)

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State Farm Property Exam 2025 Questions and Answers (2025 / 2026) (Verified Answers)

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  • December 9, 2022
  • 9
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers
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By: davidpellum • 4 months ago

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NurseFerian
State Farm Property
Study online at https://quizlet.com/_4aqtqr

STATE FARM PROPERTY EXAM 2022\2023


1. In property insurance actual cash value is defined as which of the


following: Replacement cost at the time of the loss, less depreciation 2. Peril is


most easily defined as: the cause of loss insured against


3. What is a leading factor in the determination of actual cash value:


replacement cost


4. Replacement cost is defined as: full replacement of property at its current


cost, new and without reduction for depreciation


5. Property insurance that provides 100k coverage for a building and 50k


coverage for personal property at a single location is called: Specific


coverage




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, . State Farm Property
Study online at https://quizlet.com/_4aqtqr
6. Which of the following is used in the formula for calculating the actual


cash value of a property: replacement cost


7. What is the purpose of the coinsurance clause found in property


insurance policies?: Encourage the insured to insure the property closer to its


full value


8. An insured has a liability policy that sets the amount at 50k for all


claims that arise from a single incident. which type of limit of liability does


this insured's policy have?: per occurrence


9. When the amount of insurance written in a property policy is not


subject to any coinsurance provision and that amount is paid in the event


of a covered loss, the coverage is said to be written as: stated amount




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