State Farm Fire Independent Policy Exam Graded A+

State Farm Fire Independent Policy Exam Graded A+ Selectzthezfalsezstatementzlistedzbelow:zInzthezHO-3zpolicy,zthezALEzpaymentszwillzbezmadezonlyzfor: Selectzthezsinglezbestzanswer: A.zThezshortestztimeznecessaryztozrepairzorzreplacezthezdamagedzproperty,zbutznotztozexceedz24zmonths. B.zIfzthezinsuredzdoesznotzrebuild,ztheztimeznecessaryzforzthezinsuredztozrelocatezinzpermanentzlivingzquarters,zbutznotztozexceedz24zmonths. C.zALEzpaymentszcanzrunzbeyondzthezexpirationzofzthezpolicy. D.zALEzpaymentszarezlimitedztozincurredzcostszforzthezshortestzofzthreeztimezframeszaszdictatedzbyzthezpolicy. E.zALEzpaymentszwillznotzexceedz20%zofzCoveragezAzlimits.z-zCORRECTzANSWER-E.zALEzpaymentszwillznotzexceedz20%zofzCoveragezAzlimits. ThezinsuredzhaszazHO-3zpolicyzinzforce.zAllzofzthezlosseszarezcoveredzexcept: Selectzthezsinglezbestzanswer: A.zShedzrentedztozaztenant,ztozstorezfurniture B.zDetachedzgaragezusedztozoperatezazlawnmowerzrepairzshop C.zGaragezrentedztozthezneighborztozstorezanzantiquezautomobile D.zBasementzusedzaszanzofficezforzinsured'szbookkeepingzbusiness E.zGaragez(attached)zrentedztoztenantztozstorezfishingzboatz-zCORRECTzANSWER-B.zDetachedzgaragezusedztozoperatezazlawnmowerzrepairzshop JenniferzMarcozhaszazHO-3zpolicy,zwithzazCoveragezBzlimitzofz$75,000,zaz$500zdeductible,zandznozOptionzAI,zID,zFAzorzJF.zWhichzofzthezfollowingzstatementszisztruezconcerningzherzpersonalzproperty? Selectzthezsinglezbestzanswer: A.zCoveragezforzpersonalzpropertyzapplieszforzperilszlistedzunderzSectionzIz-zLosseszInsured,zCoveragezBz-zPersonalzPropertyzandzSectionzIz-zAdditionalzCoverages. B.zCoveragezBzapplieszonlyzforzitemszJenniferzowns,zwhilezanywherezinzthezworld. C.zThezlimitzofzliabilityzforztheftzlossztozjewelryzandzfurszisz$1000zorz10%zofzthezCoveragezBzlimit,zwhicheverziszgreater. D.zThezlimitzofzliabilityzforztornadozlossesztozfirearmszisz$2,500.z-zCORRECTzANSWER-A.zCoveragezforzpersonalzpropertyzapplieszforzperilszlistedzunderzSectionzIz-zLosseszInsured,zCoveragezBz-zPersonalzPropertyzandzSectionzIz-zAdditionalzCoverages. UnderzanzHO-3zpolicy,zdeductibleszapplyztozwhichzofzthezfollowingztype(s)zofzlosses. Selectzthezsinglezbestzanswer: A.zCreditzCard,zBankzFundzTransferzCard,zForgeryzandzCounterfeitzMoney B.zFirezDepartmentzServicezCharges C.zRekeyzlockszafterzkeyszarezstolen D.zDebriszRemovalzChargesz-zCORRECTzANSWER-B.zFirezDepartmentzServicezCharges InzthezHO-3zpolicy,zCoveragezCzconsistszofzthreezcoverages: AdditionalzLivingzExpense FairzRentalzValue PropertyzRemoved TruezorzFalsez-zCORRECTzANSWER-FalsezitszAdditionalzLivingzexpense,zFairzrentalzvaluezandzprohibitedzuse ThezstepszinzapplyingzthezdeductiblezonzazHO-3zhomeownerszpolicyzare: 1.)Thezdeductibleziszfirstzappliedztozthezcoveredzloss. 2.)Anyzcoveragezorzspecialzlimitszarezthenzappliedztozthezcoveredzloss. 3.)Thezamountzpayableztozthezinsuredzwillzbezthezgreaterzofzthezamountszarrivedzatzinzstepsz1zandz2. TruezorzFalsez-zCORRECTzANSWER-True Thezdefinitionzofzanzinsuredzincludeszallzofzthezfollowingzexcept: Selectzthezsinglezbestzanswer: A.zPerson(s)zlistedzonzthezDeclarationzPage B.zSpouse,zifzazresidentzofzthezhousehold C.zRelatives,zifzresidentszofzthezhousehold D.zAnyzpersonzunderzthezagezofz21zinzthezcarezofztheznamedzinsured,zresidentzspouse,zorzazresidentzrelative E.zSpousez-zCORRECTzANSWER-Spouse JoezSmithzhaszazHO-3zpolicy.zHeziszazcarpenterzandzhaszcollectedz100z2"X4"zstudszandz30z2"X6"zrafterszfromzvariouszjobzsites.zJoezhasznozspecificzplansztozusezthezlumber.zThezlumberziszcoveredzunderzCoveragezA. TruezorzFalsez-zCORRECTzANSWER-False UnderzanzHO-3zpolicy,zwhichzofzthezfollowingzwouldzbezazCoveragezBzitem? Selectzthezsinglezbestzanswer: A.zSatellitezdishzboltedztozthezeavezofzthezhouse B.zFreezstandingzgaszrange C.zBuilt-inzmicrowavezoven D.zAutomaticzgaragezdoorzopener E.zWaterzsoftenerzsystemz-zCORRECTzANSWER-FreezStandingzgaszrange UnderzanzHO-3zpolicy,zwhichzofzthezfollowingzwouldznotzbezazCoveragezAzitem? Selectzthezsinglezbestzanswer: A.zAutomaticzlawnzsprinklerzsystem B.zWallztozwallzcarpetzattachedztozthezdwelling C.zAznewz(inzthezbox),zbuilt-inzmicrowavezovenzthezinsuredzintendsztozinstallzinzhiszfishingzcabin. D.zAzshed,zonzazfoundation,zrentedztozazneighborztozstorezthezneighbor'szboat E.zMaterialszandzsuppliesztozbuildzbookshelveszinzthezbasementzofzthezresidencezpremiseszandzstoredzinzthezgaragez-zCORRECTzANSWER-E.zMaterialszandzsuppliesztozbuildzbookshelveszinzthezbasementzofzthezresidencezpremiseszandzstoredzinzthezgarage AnzHO-3zhomeownerszpolicyzwithzaz$250zdeductibleziszinzforcezandzthezpolicyzlimitsz(CoveragezAzandzCoveragezB)zarezadequateztozcoverzthiszdamage.zDuringzazseverezwindstorm,zrainzblowszthroughzopenzwindowszandzcauseszthezfollowingzdamage: Hardwoodzfloorzinzthezdiningzroomz$1,700 Waterzstainszonzthezdrywallz$z220 Waterzstainszonzthezareazrugz$125 Antiquezvasez(brokenzbyzforcezofzwind)z$375 Howzmuchzshouldzyouzpayzonzthiszloss?zAllzrepairszhavezbeenzmade. Selectzthezsinglezbestzanswer: