State Farm Insurance License Exam Questions with Correct Answers

State Farm Insurance License Exam Questions with Correct Answers Appraisal Clause - Answer-A survey of property to determine the insurable value of the property or the value of the loss sustained. Appraisal Condition - Answer-Policy condition that outlines a procedure for when the insured and insurer disagree on the amount of a loss Assignment - Answer-The legal transfer of one's interest in an insurance policy to another person. Aviation Hull Insurance - Answer-Provides coverage for physical damage to an aircraft. Bailee's Customers Policy - Answer-Nonfiled commercial inland marine form obtained by a bailee to cover loss or damage to customers' property in the bailee's custody without regard to liability. Appurtenant Structures - Answer-Buildings of lesser value that are on the same premises as the main building insured under a property policy; they are usually covered by the policy. Assignment Condition - Answer-Condition in insurance policies that specifies that the policy cannot be transferred to another unless the company consents to the transfer in writing.