STATE FARM ESTIMATICS EXAM 2026 MASTER
STUDY EXAM
◉ Eligible for Dwelling Policy. Answer: Provides coverage for the
following:
-Up to five boarders
-Up to four apartments
-Mobile home
-Residence rented to others
-Vacation home
-Townhouse/rowhouse
-Home under construction
◉ Estoppel. Answer: Principle that states that if one intentionally or
unintentionally creates the impression that a certain fact exists, and
an innocent party relies on that impression and is injured as a result,
the guilty party may be legally prohibited from asserting that the
fact does not exist
◉ Extra Expense. Answer: Commercial property coverage form that
covers additional expenses incurred by the insured business to
continue operations following a direct loss by a peril insured
against.
,◉ Fair Access to Insurance Requirements (FAIR). Answer: Program
established by law that makes property insurance available to
insureds who might otherwise be uninsurable in the standard
market.
◉ Fiduciary. Answer: Someone who has undertaken to act for and on
behalf of another in a particular matter in circumstance which give
rise to a relationship of trust and confidence
◉ Flood. Answer: - an overflow of inland or tidal waves
- usual and rapid accumulation of runoff of surface water from any
source, unless general flooding exists
- mudslides caused by accumulations of water on the ground or
underground
- collapse of land as a result of excessive erosion due to flood
◉ Freight Insurance. Answer: Type of ocean marine insurance that
protects the insured against the loss of shipping costs
◉ Farm Policy Coverages. Answer: Farm property
Coverage A - dwelling
Coverage B - other structures non-farming
Coverage C - household personal property
, Coverage D - loss of use
Farm Property Coverages
Coverage E - scheduled farm personal property
Coverage F - unscheduled farm personal property
Coverage G - barns, outbuildings, other farm structures
Farm Liability Coverages
Coverage H - BI and PD
Coverage I - personal and advertising injury
Coverage J - medical payments to others
◉ Floater. Answer: An insurance policy, or an addition to another
insurance policy, covering personal property deemed to be easily
moveable. It covers property lost, damaged, or destroyed (e.g.
jewelry, electronics, and furs.)
◉ Fraud. Answer: A deliberate misrepresentation that causes harm;
an all out effort by one party to deceive and cheat the other, must
have intent.
◉ Functional Replacement Cost. Answer: Damaged property is
repaired or replaced with less expensive, but functionally equivalent,
materials
STUDY EXAM
◉ Eligible for Dwelling Policy. Answer: Provides coverage for the
following:
-Up to five boarders
-Up to four apartments
-Mobile home
-Residence rented to others
-Vacation home
-Townhouse/rowhouse
-Home under construction
◉ Estoppel. Answer: Principle that states that if one intentionally or
unintentionally creates the impression that a certain fact exists, and
an innocent party relies on that impression and is injured as a result,
the guilty party may be legally prohibited from asserting that the
fact does not exist
◉ Extra Expense. Answer: Commercial property coverage form that
covers additional expenses incurred by the insured business to
continue operations following a direct loss by a peril insured
against.
,◉ Fair Access to Insurance Requirements (FAIR). Answer: Program
established by law that makes property insurance available to
insureds who might otherwise be uninsurable in the standard
market.
◉ Fiduciary. Answer: Someone who has undertaken to act for and on
behalf of another in a particular matter in circumstance which give
rise to a relationship of trust and confidence
◉ Flood. Answer: - an overflow of inland or tidal waves
- usual and rapid accumulation of runoff of surface water from any
source, unless general flooding exists
- mudslides caused by accumulations of water on the ground or
underground
- collapse of land as a result of excessive erosion due to flood
◉ Freight Insurance. Answer: Type of ocean marine insurance that
protects the insured against the loss of shipping costs
◉ Farm Policy Coverages. Answer: Farm property
Coverage A - dwelling
Coverage B - other structures non-farming
Coverage C - household personal property
, Coverage D - loss of use
Farm Property Coverages
Coverage E - scheduled farm personal property
Coverage F - unscheduled farm personal property
Coverage G - barns, outbuildings, other farm structures
Farm Liability Coverages
Coverage H - BI and PD
Coverage I - personal and advertising injury
Coverage J - medical payments to others
◉ Floater. Answer: An insurance policy, or an addition to another
insurance policy, covering personal property deemed to be easily
moveable. It covers property lost, damaged, or destroyed (e.g.
jewelry, electronics, and furs.)
◉ Fraud. Answer: A deliberate misrepresentation that causes harm;
an all out effort by one party to deceive and cheat the other, must
have intent.
◉ Functional Replacement Cost. Answer: Damaged property is
repaired or replaced with less expensive, but functionally equivalent,
materials
