State farm property Study guides, Class notes & Summaries

State Farm Property xam | 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...

State Farm Property xam | Questions and Answers Graded A+ Latest 2024/2025 control of property - CORRECT ANSWER protects against negligent acts of noninsureds other insurance - CORRECT ANSWER concerns property that is insured by more than one policy legal action against an insurer - CORRECT ANSWER says when an insured my sue the insurer subrogation - CORRECT ANSWER insurer can sue third parties for damages to the insured liberalization - CORRECT ANSWER when an insurer increases its...

State Farm Property xam | Questions and Answers Graded A+ Latest 2024/2025 control of property - CORRECT ANSWER protects against negligent acts of noninsureds other insurance - CORRECT ANSWER concerns property that is insured by more than one policy legal action against an insurer - CORRECT ANSWER says when an insured my sue the insurer subrogation - CORRECT ANSWER insurer can sue third parties for damages to the insured liberalization - CORRECT ANSWER when an insurer increases its...

State Farm Property Exam | Questions and Answers Graded A+ Latest 2024/2025 preferred, standard, substandard, or decline - CORRECT ANSWER The four ways risks are classified. primary insurance amount (PIA) - CORRECT ANSWER Amount equal to covered workers full Social Security retirement benefit or disability benefit. probationary period - CORRECT ANSWER A period of time between the issuance of a policy and the date coverage begins. proof of loss - CORRECT ANSWER A mandatory NAIC provis...

State Farm Property xam | Questions and Answers Graded A+ Latest 2024/2025 A dealer is required to have on file the licenses of each of their employed salespersons but need not display them in their place of business - CORRECT ANSWER False A dealer must take in the title in their own name before selling a car to a retail customer - CORRECT ANSWER False A salesperson can change dealerships during the licensing year provided that the correct form and fee is submitted to the board such...

State Farm Property Exam | Questions and Answers Graded A+ Latest 2024/2025 which of the following refers to being restored to the financial condition you were in before a loss? - CORRECT ANSWER indemnification mark incurred 8000$ damage to his car in an accident. he received 8000$ from his insurance company and 4000$ from the other driver. by receiving a profit from the loss, Mark is in violation of.. - CORRECT ANSWER principle of indemnity the transfer of risk from one party to an...

State Farm Property xam | Questions and Answers Graded A+ Latest 2024/2025 A dealer is required to have on file the licenses of each of their employed salespersons but need not display them in their place of business - CORRECT ANSWER False A dealer must take in the title in their own name before selling a car to a retail customer - CORRECT ANSWER False A salesperson can change dealerships during the licensing year provided that the correct form and fee is submitted to the board such...

State Farm Property Exam | Questions and Answers Graded A+ Latest 2024/2025 preferred, standard, substandard, or decline - CORRECT ANSWER The four ways risks are classified. primary insurance amount (PIA) - CORRECT ANSWER Amount equal to covered workers full Social Security retirement benefit or disability benefit. probationary period - CORRECT ANSWER A period of time between the issuance of a policy and the date coverage begins. proof of loss - CORRECT ANSWER A mandatory NAIC provis...

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