STATE FARM HOMEOWNER POLICY
FP-7955 DEDUCIBLE FINAL TEST 2026
QUESTIONS WITH CORRECT
ANSWERS GRADED A+
◍ under an FP-7955 policy, deductibles apply to which of the following types
of losses..
Answer: 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?.
Answer: 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 J
F. Which of the following statements is true concerning her personal
property..
Answer: D. Coverage for personal property applies for perils listed under
Section I - Losses Insured, Coverage B - Personal Property and Section I -
Additional Coverages.
◍ The steps in applying the deductible on a FP-7955 homeowners policy are:
1. The deductible is first applied to the covered loss.2. Any coverage or
special limits are the applied to the covered loss.3. The amount payable to
the insured will be the greater of the amounts arrived at in steps 1 and 2.
True or False?.
Answer: A. True
◍ That has met the minimum floodplain management guidelines.
, Answer: To be eligible for coverage under the National Flood Insurance
Program, an insured must live in which of the following communities?
◍ Insurers authorized to write fire and extended coverage insurance.
Answer: Which of the following insurers must be members of the New York
Property Insurance Underwriting Association?
◍ AN affidavit. Pursuant the insurance law, excess line brokers must file an
affidavit for every excess lines policy or policy renewal procured from an
unauthorized insurer..
Answer: For every excess lines policy renewal procured from an
unauthorized insurer, producers must file which of the following?
◍ The definition of an insured includes all of the following except:.
Answer: B. Spouse
◍ Composition shingles can be purchased in bundles which could be 1/3
square or 1/4 square. True or False?.
Answer: A. True
◍ The formula for determining the area of a trapezoid is:.
Answer: [(base1+base2) / 2] * height
◍ The formula for determining the area of a triangle is:.
Answer: 1/2 base * height
◍ The formula for determining the area of a circle is:.
Answer: nan
◍ The SIR - The self - insured retention (SIR) is an initial part of a loss the
insured pays before the umbrella pays if no other policy covers the loss..
Answer: What is the deductible of a personal liability umbrella policy
called?
◍ To be an insurance policy and is not protected by the New York State
Securities Funds..
Answer: An insurance contract made between an insured and an excess line
insurer is NOT considered.
, ◍ Blanket insulation is an uncut roll of insulation cut to length at the job site.
It is used in walls and attics. and may or may not have a backing material..
Answer: A. True
◍ All of the following statements are true except: Select the false statement.
A. Composition shingles are made of fiberglass or asphalt saturated roofing
material embedded with mineral granules
B. Wood roofing is generally divided into two categories, wood shingles and
wood shakes.
C. Composition shingle weights range from 120 lb. to 480 l.b per square
D. Rigid roofing materials include cay, concrete, metal, and slate.
Answer: C. Composition shingle weights range from 120 lb. to 480 lb. per
square.
◍ Which of the following components is not a part of a roof truss?.
Answer: b. Bird's Mouth
◍ Dwelling Policy Form; The dwelling policy form is used to insure
residential structures and their contents including individual condominium
units..
Answer: Residential structures, including individual condominium units, and
their contents are insured by what part of the National Flood Insurance
Program?
◍ Joe Smith has FP-7955 policy. He is a carpenter and has collected 100 2"x4"
studs and 30 2"x6" ratters from various job sites. Joe has no specific plans to
use the lumber. The lumbar is covered under Coverage
A. True or False?.
Answer: False
◍ Under an FP-7955 policy, which of the following would be a Coverage B
item?.
Answer: d. Free standing gas range
◍ Prior to binding coverage for a given risk..
Answer: A copy of the total cost form which must be provided to every
FP-7955 DEDUCIBLE FINAL TEST 2026
QUESTIONS WITH CORRECT
ANSWERS GRADED A+
◍ under an FP-7955 policy, deductibles apply to which of the following types
of losses..
Answer: 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?.
Answer: 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 J
F. Which of the following statements is true concerning her personal
property..
Answer: D. Coverage for personal property applies for perils listed under
Section I - Losses Insured, Coverage B - Personal Property and Section I -
Additional Coverages.
◍ The steps in applying the deductible on a FP-7955 homeowners policy are:
1. The deductible is first applied to the covered loss.2. Any coverage or
special limits are the applied to the covered loss.3. The amount payable to
the insured will be the greater of the amounts arrived at in steps 1 and 2.
True or False?.
Answer: A. True
◍ That has met the minimum floodplain management guidelines.
, Answer: To be eligible for coverage under the National Flood Insurance
Program, an insured must live in which of the following communities?
◍ Insurers authorized to write fire and extended coverage insurance.
Answer: Which of the following insurers must be members of the New York
Property Insurance Underwriting Association?
◍ AN affidavit. Pursuant the insurance law, excess line brokers must file an
affidavit for every excess lines policy or policy renewal procured from an
unauthorized insurer..
Answer: For every excess lines policy renewal procured from an
unauthorized insurer, producers must file which of the following?
◍ The definition of an insured includes all of the following except:.
Answer: B. Spouse
◍ Composition shingles can be purchased in bundles which could be 1/3
square or 1/4 square. True or False?.
Answer: A. True
◍ The formula for determining the area of a trapezoid is:.
Answer: [(base1+base2) / 2] * height
◍ The formula for determining the area of a triangle is:.
Answer: 1/2 base * height
◍ The formula for determining the area of a circle is:.
Answer: nan
◍ The SIR - The self - insured retention (SIR) is an initial part of a loss the
insured pays before the umbrella pays if no other policy covers the loss..
Answer: What is the deductible of a personal liability umbrella policy
called?
◍ To be an insurance policy and is not protected by the New York State
Securities Funds..
Answer: An insurance contract made between an insured and an excess line
insurer is NOT considered.
, ◍ Blanket insulation is an uncut roll of insulation cut to length at the job site.
It is used in walls and attics. and may or may not have a backing material..
Answer: A. True
◍ All of the following statements are true except: Select the false statement.
A. Composition shingles are made of fiberglass or asphalt saturated roofing
material embedded with mineral granules
B. Wood roofing is generally divided into two categories, wood shingles and
wood shakes.
C. Composition shingle weights range from 120 lb. to 480 l.b per square
D. Rigid roofing materials include cay, concrete, metal, and slate.
Answer: C. Composition shingle weights range from 120 lb. to 480 lb. per
square.
◍ Which of the following components is not a part of a roof truss?.
Answer: b. Bird's Mouth
◍ Dwelling Policy Form; The dwelling policy form is used to insure
residential structures and their contents including individual condominium
units..
Answer: Residential structures, including individual condominium units, and
their contents are insured by what part of the National Flood Insurance
Program?
◍ Joe Smith has FP-7955 policy. He is a carpenter and has collected 100 2"x4"
studs and 30 2"x6" ratters from various job sites. Joe has no specific plans to
use the lumber. The lumbar is covered under Coverage
A. True or False?.
Answer: False
◍ Under an FP-7955 policy, which of the following would be a Coverage B
item?.
Answer: d. Free standing gas range
◍ Prior to binding coverage for a given risk..
Answer: A copy of the total cost form which must be provided to every
