State Farm Fire Independent Policy Exam Questions & 100% Correct Answers
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Course
State Farm Auto
Institution
State Farm Auto
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 fo...
✓ ~~> False its Additional Living expense, Fair rental value and
prohibited use
The steps in applying the deductible on a HO-3 homeowners policy are:
1.)The deductible is first applied to the covered loss.
2.)Any coverage or special limits are then applied to the covered loss.
3.)The amount payable to the insured will be the greater of the amounts
arrived at in steps 1 and 2.
True or False
✓ ~~> True
The definition of an insured includes all of the following except:
Select the single best answer:
A. Person(s) listed on the Declaration Page
B. Spouse, if a resident of the household
Master01 | September, 2024/2025 | Latest update
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