State farm propert - Study guides, Class notes & Summaries

State Farm Property Questions and Answers (2024) Verified Answers State Farm Property Questions and Answers (2024) Verified Answers State Farm Property Questions and Answers (2024) Verified Answers

State Farm Property Exam Questions with 100% Correct Answers Policy assignment when assignee receives full control over the policy and full rights to its benefits. Absolute Assignment Life insurance rider that allow for early payment of some portion of policy's face amount, should the insured suffer from terminal illness/injury. Accelerated benefits rider Contract must be accepted by the insured exactly as it is written by the insurer. Terms of contract cannot be negotiated. Contra...

State Farm Property Exam Questions with 100% Correct Answers Absolute Assignment Policy assignment when assignee receives full control over the policy and full rights to its benefits. Accelerated benefits rider Life insurance rider that allow for early payment of some portion of policy's face amount, should the insured suffer from terminal illness/injury. adhesion Contract must be accepted by the insured exactly as it is written by the insurer. Terms of contract cannot be negotiat...

State Farm Property Exam Questions with 100% Correct Answers How long is the waiting period after the application has been accepted before flood coverage goes into effect? the waiting period is 30 days as required by the Nation flood insurance program which of the following Is covered under the camera and musical instruments dealers floater a customers camera left at a camera shop for repairs when an umbrella policy is broader than underlying insurance and it pays a loss that is not...

State Farm Property Questions and Answers 2023/2024 COMPLETE SOLUTION ( A+ GRADED 100% VERIFIED) LATEST State Farm Property Questions and Answers 2023/2024 COMPLETE SOLUTION ( A+ GRADED 100% VERIFIED) LATEST State Farm Property Questions and Answers 2023/2024 COMPLETE SOLUTION ( A+ GRADED 100% VERIFIED) LATEST

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 Exam Questions with 100% Correct Answers 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 A loss that occurs at a specific time and place Accident Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. Actual Cash Value (ACV) Company that meets a state insurance d...

STATE FARM PROPERTY EXAM 2024 WITH 100% CORRECT ANSWERS In property insurance actual cash value is defined as which of the following - correct answer Replacement cost at the time of the loss, less depreciation Peril is most easily defined as - correct answer the cause of loss insured against What is a leading factor in the determination of actual cash value - correct answer replacement cost Replacement cost is defined as - correct answer full replacement of property at its current ...

State Farm Propertyexam | Questions and Answers Graded A+ Latest 2024 What are considered parts of the policy structure - CORRECT ANSWER conditions, exclusions, insuring clause A homeowner sells his house to a friend. the friend wants to keep the homeowners current policy in effect. under the assignment provision which of the following is most likely? - CORRECT ANSWER the homeowner will need to get written consent from the insurer before the policy can be reassigned What is consider...