Bailees customers policy - Study guides, Class notes & Summaries

State Farm Insurance License Exam 2024/2025 already graded A+

Define Bailee for Hire. - Answer- Person or organization who has temporary custody of the personal property of another for a purpose other than sale and who is compensated as a condition of such custody Identify three types of Bailees and provide an example of each. - Answer- i) Repair of personal property example: Television repair shop ii) Storage of personal property example: Public storage warehouse iii) Delivery of personal property example: Courier service Define Ordinary Care....

State Farm License Exam 2023/2024 When will the license expire? What should you do after? - It will be expired 2 years after the date of issue. - The agent must complete a 30 hours course every 2 years to renew expiring license. - A person who continuously having license for 20 years are exempt from continuing education requirements. Can you apply to renew late? - Yes, you have up to 90 days to send in a late renewal application. U will just have to pay a late fee. - After 90 days ...

State Farm Insurance License Exam Questions and Answers, Graded A+ 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; authoriz...

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

State Farm Insurance License Exam 1. 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) Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. 4. admitted insurer; authorized insur...

State Farm License Exam 2023/2024 When will the license expire? What should you do after? - It will be expired 2 years after the date of issue. - The agent must complete a 30 hours course every 2 years to renew expiring license. - A person who continuously having license for 20 years are exempt from continuing education requirements. Can you apply to renew late? - Yes, you have up to 90 days to send in a late renewal application. U will just have to pay a late fee. - After 90 days ...

IRM 3306 – Midterm Exam Questions And Answers 100% Verified. Which one of the following best describes the role of constitutions in the United States? A. Constitutions define individual rights and leave the structure of the government to the judicial branch. B. Constitutions explain what law prevails when there is a conflict among the states. C. Constitutions specify the government's powers and the limitations on those powers. D. Constitutions contain all statutes that have been enacte...

State Farm Insurance License Exam Questions and Answers 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" "Actual Cash Value (ACV) - Correct answer Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsole...

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