Fire independent policy - Study guides, Class notes & Summaries

EDUC 643 Quiz: Where Does the Money Go? Updated 2024 Graded A+; Liberty University Due Jun 16 at 11:59pm Points 40 Questions 20 Time Limit 120 Minutes Instructions The quiz: Covers the Learn and Textbook material from Modules 1 – 5: Weeks 1 – 5. Contains 20 multiple-choice questions. Is limited to 2 hours. Allows 1 attempt. Is worth 40 points. Submit this assignment by 11:59 p.m. (ET) on Sunday of Module 5: Week 5. Attempt History Attempt Time Score LATEST Attempt ...

Abandonment - - Insurance company may choose to take damaged property and pay insured the value - Insured CANNOT surrender damaged property to insurance company Active Retention - Identify the loss/risk exposure and really consider the risk itself and all the measures around it. (ex. Should we transfer it, retain it etc.) Admitted (standard or retail) Insurance companies - Regulated by the state, They often must subscribe to rating and form regulations of that state. Agent or Broker - "In...

State Farm Fire Independent Policy Exam 2025 update with all correct answers An HO-3 homeowners policy with a $250 deductible is in force and the policy limits (Coverage A and Coverage B) are adequate to cover this damage. During a severe windstorm, rain blows through open windows and causes the following damage: Hardwood floor in the dining room $1,700 Water stains on the drywall $ 220 Water stains on the area rug $125 Antique vase (broken by force of wind) $375 How much should you pay on...

State Farm Fire Independent Policy Exam Questions And Correct Answers

Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments can run beyond the expiration of the policy. D. ALE payments are limited to incurred costs for the sh...

State Farm Fire Independent Policy Exam QUESTIONS & ANSWERS 2024 ( A+ GRADED 100% VERIFIED)

State Farm Fire Independent Policy Exam questions and answers ( A+ GRADED 100% VERIFIED) LATEST 2022/ 2023 Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE ...

State Farm Fire Independent Policy Exam questions and answers ( A+ GRADED 100% VERIFIED) LATEST 2022/ 2023 Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments ...

State Farm Fire Independent Policy Exam 2023 Questions and Answers{Verified Answers} State Farm Fire Independent Policy Exam 2023 Questions and Answers{Verified Answers}

1. Select the false statement listed below: In the HO-3 policy, the ALE pay- ments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments can run beyond the expiration of the policy. D. ALE payments are limited to incurred costs fo...

Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments can run beyond the expiration of the policy. D. ALE payments are limited to incurred costs for the sho...

State Farm Fire Independent Policy Exam Latest 2024 Graded A Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments can run beyond the expiration ...