- Study guides, Class notes & Summaries

STATE FARM PROPERTY EXAM QUESTIONS AND 100% CORRECT ANSWERS 2025/2026 In property insurance actual cash value is defined as which of the following - Answer -Replacement cost at the time of the loss, less depreciation Peril is most easily defined as - Answer -the cause of loss insured against What is a leading factor in the determination of actual cash value - Answer -replacement cost Replacement cost is defined as - Answer -full replacement of property at its current cost, new and with...

-

6 pages

Written in 2024/2025

Grade A+

mercylynneh

STATE FARM FIRE INDEPENDENT POLICY EXAM QUESTIONS AND 100% CORRECT ANSWERS 2025/2026 Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments can run bey...

-

32 pages

Written in 2024/2025

Grade A+

mercylynneh

STATE FARM AUTO EXTERNAL CLAIM RESOURCE CERTIFICATION EXAM QUESTIONS AND 100% CORRECT ANSWERS 2025/2026 You're preparing an estimate on a customer's vehicle that requires refinishing of the hood and right front fender only. The hood is the first panel listed on the estimate. According to most Collision Estimating Guides, would refinish overlap be applicable on the hood? Choose the most correct statement. Select the single best answer: A. Overlap would not be applicable on the ho...

-

9 pages

Written in 2024/2025

Grade A+

mercylynneh

STATE FARM ESTIMATICS EXAM QUESTIONS AND 100% CORRECT ANSWERS 2025/2026 Removal of shingles estimate for the actual number of squares (not square feet). No estimating or rounding Replacement of shingles a) Include waste in the calculation -10% - Composite -15% - wood b) Round up to the nearest bundle -Assume 3 bundles per SQ for composite shingles -Assume 4 bundles per SQ for wood What do wood shingle estimates always end with?fourths. .25, .5, .75, .00 What do composite shingle es...

-

32 pages

Written in 2024/2025

Grade A+

mercylynneh

STATE FARM CASUALTY EXAM QUESTIONS AND 100% CORRECT ANSWERS 2025/2026 To be issued a business entity producer license by the commissioner the business entity must have how many partners or officers licensed as producers - Answer -atleast 1 The occurence form trigger is based on which of the following? - Answer -the date where injury and damage occur How are surety bonds different from insurance? - Answer -Surety bonds guarantee specific duties or obligations will be fulfilled and insura...

-

10 pages

Written in 2024/2025

Grade A+

mercylynneh

BUNDLE FOR STATE FARM EXAMS QUESTIONS AND 100% CORRECT ANSWERS 2025/2026

-

5 items

AdelineJean

STATE FARM PROPERTY EXAM QUESTIONS AND 100% CORRECT ANSWERS 2025/2026 In property insurance actual cash value is defined as which of the following - Answer -Replacement cost at the time of the loss, less depreciation Peril is most easily defined as - Answer -the cause of loss insured against What is a leading factor in the determination of actual cash value - Answer -replacement cost Replacement cost is defined as - Answer -full replacement of property at its current cost, new and with...

-

6 pages

Written in 2024/2025

Grade A+

AdelineJean

STATE FARM FIRE INDEPENDENT POLICY EXAM QUESTIONS AND 100% CORRECT ANSWERS 2025/2026 Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments can run bey...

-

32 pages

Written in 2024/2025

Grade A+

AdelineJean

STATE FARM AUTO EXTERNAL CLAIM RESOURCE CERTIFICATION EXAM QUESTIONS AND 100% CORRECT ANSWERS 2025/2026 You're preparing an estimate on a customer's vehicle that requires refinishing of the hood and right front fender only. The hood is the first panel listed on the estimate. According to most Collision Estimating Guides, would refinish overlap be applicable on the hood? Choose the most correct statement. Select the single best answer: A. Overlap would not be applicable on the ho...

-

9 pages

Written in 2024/2025

Grade A+

AdelineJean

STATE FARM ESTIMATICS EXAM QUESTIONS AND 100% CORRECT ANSWERS 2025/2026 Removal of shingles estimate for the actual number of squares (not square feet). No estimating or rounding Replacement of shingles a) Include waste in the calculation -10% - Composite -15% - wood b) Round up to the nearest bundle -Assume 3 bundles per SQ for composite shingles -Assume 4 bundles per SQ for wood What do wood shingle estimates always end with?fourths. .25, .5, .75, .00 What do composite shingle es...

-

32 pages

Written in 2024/2025

Grade A+

AdelineJean

STATE FARM CASUALTY EXAM QUESTIONS AND 100% CORRECT ANSWERS 2025/2026 To be issued a business entity producer license by the commissioner the business entity must have how many partners or officers licensed as producers - Answer -atleast 1 The occurence form trigger is based on which of the following? - Answer -the date where injury and damage occur How are surety bonds different from insurance? - Answer -Surety bonds guarantee specific duties or obligations will be fulfilled and insura...

-

10 pages

Written in 2024/2025

Grade A+

AdelineJean

StateFarm Prep Exam UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS Which of the following is eligible as a private passenger vehicle? - CORRECT ANSWER Sport Utility Vehicle What part of the MVR shows any driving offenses recieved for a violation such as a suspension or revocation? - CORRECT ANSWER License status

-

5 pages

Written in 2024/2025

Grade A+

STANFORDTOPGRADES

State Farm Property Exam UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS In property insurance actual cash value is defined as which of the following - CORRECT ANSWER Replacement cost at the time of the loss, less depreciation Peril is most easily defined as - CORRECT ANSWER the cause of loss insured against What is a leading factor in the determination of actual cash value - CORRECT ANSWER replacement cost

-

5 pages

Written in 2024/2025

Grade A+

STANFORDTOPGRADES

STATE FARM PROPERTY/ ESTIMATICS OC (On Center) - CORRECT ANSWER -*The distance from one framing member/truss to the next framing member/truss *Common truss is 24" or 2' Roof Truss Components - CORRECT ANSWER -Top chord Bottom Cord Web Gusset T- Lock Shingle - CORRECT ANSWER -Made of fiberglass or asphalt-saturated roofing material embedded with mineral granules. Different weights available/Weight is per square (100SF) of shingles 3- Tab Composition Shingle - CORRECT ...

-

4 pages

Written in 2024/2025

Grade A+

VERIFIEDPASS

STATE FARM PROPERTY AND CASUALTY duties of the insured - CORRECT ANSWER -1. pay the premium 2. take all reasonable means to save and protect the property from loss 3. give the insurance company immediate notice of loss 4. give the insurance company proof of loss within 60 days of the loss 5. separate the damaged property from the undamaged property and allow the insurance company to inspect the undamaged property as well as the insured's books and records 6. the insured ca...

-

5 pages

Written in 2024/2025

Grade A+

VERIFIEDPASS

STATE FARM POLICY What are Special Limits of Liability? - CORRECT ANSWER -These limits do not increase the Coverage B limit. The special limit for each of the following categories is the total limit for each loss for all property in that category: money, coins and medals, including any of these that are a part of a collection, and bank notes; - CORRECT ANSWER -$200 property used or intended for use in a business, including merchandise held as samples or for sale or for delivery aft...

-

2 pages

Written in 2024/2025

Grade A+

VERIFIEDPASS

STATE FARM INSURANCE LICENSE EXAM Abandonment Condition - CORRECT ANSWER -A condition often contained in property insurance policies that states that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Accident - CORRECT ANSWER -A loss that occurs at a specific time and place Actual Cash Value (ACV) - CORRECT ANSWER -Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. admitted ins...

-

13 pages

Written in 2024/2025

Grade A+

VERIFIEDPASS

STATE FARM INDEPENDENT AUTO EXAM Select Service Program - CORRECT ANSWER -In some market areas, repairers have been selected to participate in State Farm's Select Service Program. The program is designed to enhance claim service, increase efficiency, and afford customers an opportunity to select qualified repairers to inspect and estimate vehicle damage Paintless Dent repair - CORRECT ANSWER -Paintless Dent Repair (PDR) is an industry recognized repair process that involves the ...

-

7 pages

Written in 2024/2025

Grade A+

VERIFIEDPASS

STATE FARM ESTIMATICS EXAM The formula for determining the area of a trapezoid is: Select the single best answer: A. [(Base1 + Base2) ÷ 2] x Height B. ½ Base x Height C. Base x Height D.

-

7 pages

Written in 2024/2025

Grade A+

VERIFIEDPASS

STATE FARM CERTIFICATION - CLAIMS ADJUSTER Special Limits of Liability for 1. money - CORRECT ANSWER -$200 for money or coins whats covered under dwelling - CORRECT ANSWER -tures attached to dwelling ials/supplies on or adjacent to residence premises for construction use or alteration of the premises. ation, footings, floor slabs supporting dwelling -wall to wall carpeting other structures separated by clear space are.... such as - CORRECT ANSWER -covered. Structures connect...

-

7 pages

Written in 2024/2025

Grade A+

VERIFIEDPASS