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State Farm Property 2024 Exam Verified 100% solutions In property insurance actual cash value is defined as which of the following Replacement cost at the time of the loss, less depreciation Peril is most easily defined as the cause of loss insured against What is a leading factor in the determination of actual cash value replacement cost Replacement cost is defined as full replacement of property at its current cost, new and without reduction for depreciation Property insurance that pr...

State Farm Estimatics Exam| Questions and Answers, 100% Correct| Latest Update The formula for determining the area of a trapezoid is: Select the single best answer: A. [(Base1 + Base2) ÷ 2] x Height B. ½ Base x Height C. Base x Height D.

state farm property exam (Mamas Test)| Answered 100% Correctly| Updated under an FP-7955 policy, deductibles apply to which of the following types of losses. B. Fire department service charges in the FP-7955 policy, Coverage C consists of three coverages: 1. Additional Living Expense, 2. Fair Rental Value and 3. Property Removed. True or False? B. False Jennifer Marco has a FP-7955 policy with coverage B limit of $75,000, a $500 deductible and no option AI, ID, FA, or JF. Which of the foll...

State Farm Estimatics Exam| Questions and Answers, 100% Verified| Updated Removal of shingles estimate for the actual number of squares (not square feet). No estimating or rounding Replacement of shingles a) Include waste in the calculation -10% - Composite -15% - wood b) Round up to the nearest bundle -Assume 3 bundles per SQ for composite shingles -Assume 4 bundles per SQ for wood What do wood shingle estimates always end with? fourths. .25, .5, .75, .00 What do composite shingle ...

State Farm Fire Independent Policy Exam| Questions and Answers, 100% Verified| 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...