State farm casualty - Study guides, Class notes & Summaries

State Farm Casualty Exam Practice Questions and Correct Answers Graded A+ 2023. What is additional supplementary coverage - ANSWER-additional amount of coverage for specific losses An insured's building has an actual cash value of 200k and he has insured the property for 120k with an 80% coinsurance clause. A 40k loss occurs. How much will the policy pay? - ANSWER-30,000 Inland marine coverage - ANSWER-property insurance for property in transit over land, certain types of moveable propert...

State Farm Casualty Question and answers 2023 verified to pass To be issued a business entity producer license by the commissioner the business entity must have how many partners or officers licensed as producers - correct answer at least 1 The occurrence form trigger is based on which of the following? - correct answer the date where injury and damage occur How are surety bonds different from insurance? - correct answer Surety bonds guarantee specific duties or obligations will ...

State Farm Casualty Test Questions with Answers 2023 (Already Graded A+) When an insured's gardener was spraying weeds in his lawn, he failed to notice that the wind was drifting the spray into the neighbor's yard where he damaged their flower bed. The insured was found to be legally liable for this damage. This is an example of - ANSWER-vicarious liability An insured just purchased an auto policy for his new car. He wants to understand what perils are not insured against. Which section o...

State Farm Casualty Exam Questions With Complete Solutions To be issued a business entity producer license by the commissioner the business entity must have how many partners or officers licensed as producers - CORRECT ANSWER atleast 1 The occurence form trigger is based on which of the following? - CORRECT ANSWER the date where injury and damage occur How are surety bonds different from insurance? - CORRECT ANSWER Surety bonds guarantee specific duties or obli...

State Farm Casualty To be issued a business entity producer license by the commissioner the business entity must have how many partners or officers licensed as producers ANSWER- atleast 1 The occurence form trigger is based on which of the following? ANSWER- the date where injury and damage occur How are surety bonds different from insurance? ANSWER- Surety bonds guarantee specific duties or obligations will be fulfilled and insurance pays for losses What is the deductible of a perso...

STATE FARM PROPERTY AND CASUALTY 2025 EXAM WITH CORRECT ANSWERS 2 types of property and casualty insurance policies: 1. personal lines property/casualty insurance - ANSWER-includes homeowner insurance, dwelling insurance and personal auto insurance 2. commercial lines property/casualty insurance - ANSWER-includes commercial property insurance, commercial package policies, commercial general liability insurance, commercial crime insurance and business auto insurance abandonment clause - ANSWE...

STATE FARM PROPERTY AND CASUALTY EXAM STUDY RATED A.

PROPERTY AND CASUALTY STATE FARM EXAM QUESTIONS WITH COMPLETE SOLUTIONS GRADED A+ Warranties (GI) Statements made in an application for insurance or material stipulations in the policy that are guaranteed as true in all respects. Waiver (GI) The voluntary abandonment of a known or legal right or advantage. Agent (IL) An insurance licensed producer appointed by an insurer to represent that company to present policies on its behalf. Agent Residence (IL) Resident Agent - producer who resi...

STATE FARM PROPERTY AND CASUALTY TEST...