Financial Accounting > QUESTIONS & ANSWERS > State Farm exam 2022/2023 with 100% correct answers (All)
State Farm exam 2022/2023 with 100% correct answers
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Who owns thier renewals Independents Events that may NOT be recovered by insurance are Gambling, investing, market value of home What underlying coverages typically are required for an... umbrella Auto and Personal Conditions that prohibit assignments of the policy Transfer of rights and duties Expectant interest are Not insured Flood, power failure and earth movement are Excluded on DP & HO What are the 3 principle rating factors for personal auto 1) safe driving record 2) annual miles driving 3) years of driving experience Fail Plan doesn't not encourage Competition Loss exposures that results in a claim for monetary damage due to injury to another or damage to another's property? Liability Loss Exposure The persons whose property is being insured is the Insured The person seeking for damage is the Claimant When the insurer cancels, the premium is refunded Pro-Rata Representation can qualify as an Implied Warranty Fire Dep. service charge, reason repairs and debris removal are considered what on an HO? Additional Charges In an HO coverage for fair rental is included in Coverage D How is combined ratio computed? Adding Loss + Expense Ratio Not purchasing collision coverage for your car is an example of risk Retention [Show More]
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