State farm propert - Study guides, Class notes & Summaries
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State Farm Property exam | Questions and Answers Graded A+ Latest 2024/2025
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State Farm Property xam | Questions and 
Answers Graded A+ Latest 2024/2025 
control of property - CORRECT ANSWER protects against negligent acts of noninsureds 
other insurance - CORRECT ANSWER concerns property that is insured by more 
than one policy 
legal action against an insurer - CORRECT ANSWER says when an insured my 
sue the insurer 
subrogation - CORRECT ANSWER insurer can sue third parties for damages to 
the insured 
liberalization - CORRECT ANSWER when an insurer increases its...
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State Farm Property Exam | Questions and Answers Graded A+ Latest 2024/2025
- Exam (elaborations) • 163 pages • 2024
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State Farm Property Exam | Questions and 
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which of the following refers to being restored to the financial condition you 
were in before a loss? - CORRECT ANSWER indemnification 
mark incurred 8000$ damage to his car in an accident. he received 8000$ from 
his insurance company and 4000$ from the other driver. by receiving a profit 
from the loss, Mark is in violation of.. - CORRECT ANSWER principle of 
indemnity 
the transfer of risk from one party to an...
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State Farm Property exam | Questions and Answers Graded A+ Latest 2024/2025
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State Farm Property xam | Questions and 
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A dealer is required to have on file the licenses of each of their employed 
salespersons but need not display them in their place of business - CORRECT 
ANSWER False 
A dealer must take in the title in their own name before selling a car to a retail 
customer - CORRECT ANSWER False 
A salesperson can change dealerships during the licensing year provided that the 
correct form and fee is submitted to the board such...
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State Farm Property Exam | Questions and Answers Graded A+ Latest 2024/2025
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State Farm Property Exam | Questions and 
Answers Graded A+ Latest 2024/2025 
preferred, standard, substandard, or decline - CORRECT ANSWER The four 
ways risks are classified. 
primary insurance amount (PIA) - CORRECT ANSWER Amount equal to covered 
workers full Social Security retirement benefit or disability benefit. 
probationary period - CORRECT ANSWER A period of time between the 
issuance of a policy and the date coverage begins. 
proof of loss - CORRECT ANSWER A mandatory NAIC provis...
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State Farm Property exam | Questions and Answers Graded A+ Latest 2024/2025
- Exam (elaborations) • 96 pages • 2024
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State Farm Property xam | Questions and 
Answers Graded A+ Latest 2024/2025 
A dealer is required to have on file the licenses of each of their employed 
salespersons but need not display them in their place of business - CORRECT 
ANSWER False 
A dealer must take in the title in their own name before selling a car to a retail 
customer - CORRECT ANSWER False 
A salesperson can change dealerships during the licensing year provided that the 
correct form and fee is submitted to the board such...
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State Farm Property Exam | Questions and Answers Graded A+ Latest 2024/2025
- Exam (elaborations) • 29 pages • 2024
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State Farm Property Exam | Questions and 
Answers Graded A+ Latest 2024/2025 
preferred, standard, substandard, or decline - CORRECT ANSWER The four 
ways risks are classified. 
primary insurance amount (PIA) - CORRECT ANSWER Amount equal to covered 
workers full Social Security retirement benefit or disability benefit. 
probationary period - CORRECT ANSWER A period of time between the 
issuance of a policy and the date coverage begins. 
proof of loss - CORRECT ANSWER A mandatory NAIC provis...
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State Farm Property Exam 2024 Questions and Answers (2024/2025) (Verified Answers)
- Exam (elaborations) • 9 pages • 2022
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State Farm Property Exam 2024 Questions and Answers (2024/2025) (Verified Answers)
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State Farm Property exam | Questions and Answers Graded A+ Latest 2024/2025
- Exam (elaborations) • 15 pages • 2024
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State Farm Property xam | Questions and 
Answers Graded A+ Latest 2024/2025 
A dealer is required to have on file the licenses of each of their employed 
salespersons but need not display them in their place of business - CORRECT 
ANSWER False 
A dealer must take in the title in their own name before selling a car to a retail 
customer - CORRECT ANSWER False 
A salesperson can change dealerships during the licensing year provided that the 
correct form and fee is submitted to the board such...
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State Farm Property STUDY BUNDLE COMPLETE PACKAGE 2022/2023 | 100% Verified Answers
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Abandonment Condition Correct Answer: A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value.

Accident Correct Answer: A loss that occurs at a specific time and place


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State Farm Property Exam Questions with 100% Correct Answers
- Exam (elaborations) • 25 pages • 2024
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State Farm Property Exam Questions with 100% Correct Answers 
which of the following refers to being restored to the financial condition you were in before a loss? 
indemnification 
 
 
mark incurred 8000$ damage to his car in an accident. he received 8000$ from his insurance company and 4000$ from the other driver. by receiving a profit from the loss, Mark is in violation of.. 
principle of indemnity 
 
 
the transfer of risk from one party to another is called 
insurance 
 
 
the principle of ...
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