3 - E Crop_Revised Save
Terms in this set (66)
,3,200 acres of Jonathan's B. $0 (Because Jonathan's loss was under 10% of his total
40,000 acre farm of green acreage)
beans were destroyed by
wildfire. Jonathan has crop-hail
insurance with a $60,000 limit
and a 10% minimum loss
threshold. How much
indemnification can Jonathan
expect to receive when he files
a claim for this loss?
A. $6,000
B. $0
C. $4,800
D. $2,133
Actual production history (APH) D. 4 years
is based on farmer's previous
crop yields. A farmer must
provide how many years of
records to determine the APH?
A. 10 years
B. 2 years
C. 5 years
D. 4 years
,After a heavy rain, the river D. $3,000 ($20,000 x .05 = $1,000, so the policy will pay for the
running through Randy's farm entire loss of $3,000)
rose so high that it flooded part
of his barley crop. The flood
caused $3,000 in damage to his
$20,000 crop. Randy's crop
insurance policy has a 5%
threshold. Based on this
information, how much will
Randy's insurer pay him for this
loss?
A. $1,000
B. $2,000
C. $2,850
D. $3,000
, After a loss, the insured farmer D. Plant a replacement crop within 72 hours
will typically have to do all of
the following, EXCEPT:
A. Notify the insurer
immediately
B. Protect the crop from further
damage
C. Leave samples of the
damaged crop for the adjuster
to inspect
D. Plant a replacement crop
within 72 hours
Terms in this set (66)
,3,200 acres of Jonathan's B. $0 (Because Jonathan's loss was under 10% of his total
40,000 acre farm of green acreage)
beans were destroyed by
wildfire. Jonathan has crop-hail
insurance with a $60,000 limit
and a 10% minimum loss
threshold. How much
indemnification can Jonathan
expect to receive when he files
a claim for this loss?
A. $6,000
B. $0
C. $4,800
D. $2,133
Actual production history (APH) D. 4 years
is based on farmer's previous
crop yields. A farmer must
provide how many years of
records to determine the APH?
A. 10 years
B. 2 years
C. 5 years
D. 4 years
,After a heavy rain, the river D. $3,000 ($20,000 x .05 = $1,000, so the policy will pay for the
running through Randy's farm entire loss of $3,000)
rose so high that it flooded part
of his barley crop. The flood
caused $3,000 in damage to his
$20,000 crop. Randy's crop
insurance policy has a 5%
threshold. Based on this
information, how much will
Randy's insurer pay him for this
loss?
A. $1,000
B. $2,000
C. $2,850
D. $3,000
, After a loss, the insured farmer D. Plant a replacement crop within 72 hours
will typically have to do all of
the following, EXCEPT:
A. Notify the insurer
immediately
B. Protect the crop from further
damage
C. Leave samples of the
damaged crop for the adjuster
to inspect
D. Plant a replacement crop
within 72 hours
