Abandonment condition - Study guides, Class notes & Summaries

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State Farm Insurance License Exam Containing 117 Questions and Answers . Terms like: Abandonment Condition - 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.

State Farm Insurance License Exam Questions and Answers (2024 / 2025) (Verified Answers) A+ State Farm Insurance License Exam Questions and Answers (2024 / 2025) (Verified Answers) Abandonment Condition (ANS) 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. 2. Accident(ANS) A loss that occurs at a specific time and place 3. Actual Cash Value (ACV) (ANS) Toda...

Abandonment Condition - ANSWERSA 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. Absolute Liability - ANSWERSType of liability imposed by law on those participating in certain activities that are coered particularly hazardous; person may be held liabile even though they were not negligent. Accident - ANSWERSA loss that occurs at a specific time and place. ...

1 FLORIDA CLAIMS ADJUSTER EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED/ Peril - -Somthing t√dhat causes a loss. Hazard - -Something that increases the probability that a loss will occur. Warranty - -A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation - -An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Con...

State Farm Insurance License Exam Containing 117 Questions and Answers . Terms like: Abandonment Condition - 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.

Abandonment Condition - CORRECTANSWER-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 - CORRECTANSWER-A loss that occurs at a specific time and place Actual Cash Value (ACV) - CORRECTANSWER-Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. admitted insurer; authorized insurer - CORRECTANSWER-Company ...

State Farm Insurance License Exam Questions and Answers Abandonment Condition 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 A loss that occurs at a specific time and place Actual Cash Value (ACV) Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. admitted insurer; authorized insurer Compa...