State Farm Property Study guides, Class notes & Summaries

State Farm Independent AutoExam Questions with 100% Correct Answers Select Service Program In some market areas, repairers have been selected to participate in State Farm's Select Service Program. The program is designed to enhance claim service, increase efficiency, and afford customers an opportunity to select qualified repairers to inspect and estimate vehicle damage Paintless Dent repair Paintless Dent Repair (PDR) is an industry recognized repair process that involves the removal o...

State Farm Independent AutoExam Questions with 100% Correct Answers Select Service Program In some market areas, repairers have been selected to participate in State Farm's Select Service Program. The program is designed to enhance claim service, increase efficiency, and afford customers an opportunity to select qualified repairers to inspect and estimate vehicle damage Paintless Dent repair Paintless Dent Repair (PDR) is an industry recognized repair process that involves the removal o...

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 Depreciation reduction in value, particularly due to wear and tear Exposure susceptibility to risk Implied Warranty A legal term meaning that a product is suitable for its intended purpose and that it fits an ordinary buyers expectations Insurance Policy a contract between a policyowner (and/or insured) and an insurance company which agrees to pay the insured or the beneficiary for loss caused by specific events ...

State Farm Property Exam Questions with 100% Correct Answers Depreciation reduction in value, particularly due to wear and tear Exposure susceptibility to risk Implied Warranty A legal term meaning that a product is suitable for its intended purpose and that it fits an ordinary buyers expectations Insurance Policy a contract between a policyowner (and/or insured) and an insurance company which agrees to pay the insured or the beneficiary for loss caused by specific events ...

Estimatics- State Farm (Eberls test)|Complete With A+ Graded Answers Trapezoid {(Base1+Base2)/2}xHeight Triangle 1/2(BasexHeight) Circle On-Center (O.C.) is the distance from the centerline of the framing member to the center of the next framing member from one framing member to the next framing member. t or f? T Roof Truss Components top chord, bottom cord, web, and gusset. know all these as the components. square base x height Roofing Materials 3 tab c...

State Farm Property Exam Questions with 100% Correct Answers 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 Pro...

State Farm Property Exam Questions and Answers 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 insuran...

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...

State Farm Exam Prep Questions and Answers Which of the following is eligible as a private passenger vehicle? Sport Utility Vehicle What part of the MVR shows any driving offenses recieved for a violation such as a suspension or revocation? License status What action should be taken if the Motor Vehicle Report displays the message "MVR status clear"? Identify the license status and expiration date and note the violations to be entered in the quote/application Where does the ...