Iowa Crop Insurance EXAM QUESTIONS AND
VERIFIED CORRECT ANSWERS LATEST 2026-2027
NEW VERSION
When the insured and insurer disagree on the percentage of loss, the loss is settled
by the - answer>>>appraisal process
The appraisal process requires the services of - answer>>>appraisers and an umpire
The entity which sets MPCI rates is the - answer>>>FCIC
MPCI coverage begins - answer>>>At planting or seeding of the crop
The actual production history (APH) yield for MPCI is determined from producer
production records for a minimum of - answer>>>4 years, up to 10 consecutive crop
years
The factor used to complete the 4-year database for MPCI producers who provide
less than 4 successful years of actual yields is known as the - answer>>>Transitional
yield
When an insured has no insurable acreage to report for the crop year under the
MPCI policy, the agent must - answer>>>file a zero acreage report
Under the MPCI policy what symbol is used to designate "high risk" land? -
answer>>>AAA
The entity which determines the "high risk" land boundaries and rating is the -
answer>>>RMA
, -
Which document contains the "high risk" maps? - answer>>>County actuarials
The material for the crop year which is available for public inspection in the agent's
office is contained in the - answer>>>Actuarial document books
If a landlord insures his/her share of the crop under a MPCI Policy - answer>>>The
tenant may purchase insurance on his/her share
When insuring the same crop in the same county the insured may - answer>>>Insure
with only one MPCI policy
Under the MPCI Policy, what is the basis for insuring each parcel of land
independently of other parcels and covering specified crops at the described
location? - answer>>>Unit basis
A section contains - answer>>>640 acres
A quarter section contains - answer>>>160 acres
How many square feet are in an acre? - answer>>>43,560 square feet
A permitted percent of a coverage level that would be available under a MPCI policy
is - answer>>>65%
Coverage under the MPCI policy is available as a percent of the actual production
history (APH) in increments of - answer>>>5%
The administrative fee for CAT protection for each crop insured in each county is -
answer>>>$300
, The administrative fee for each crop year per county for all levels of coverage in
excess of CAT protection (a buy-up policy) is - answer>>>$30
The MPCI policy is - answer>>>A continuous contract
The Actual Production History (APH) Plan insures producers against - answer>>>Loss
in yield
Since an insurance contract is a personal contract, the policy covers the insurable
interest of the - answer>>>insured
The uncertainty or chance of loss is known as - answer>>>a risk
The cause of possible loss or the event insured against is known as - answer>>>a
peril
All of the following are direct losses except - answer>>>wind
The principle of insurance that provides that when a loss occurs, the insured should
be restored to the approximate financial condition occupied before the loss
occurred, no better or no worse is - answer>>>indemnity
Replacement cost minus depreciation is - answer>>>Actual Cash Value (ACV)
The policy condition that requires the insured to share in a loss is known as -
answer>>>coinsurance
When a fire occurs at a specific time or place, it is known as - answer>>>an
occurrence
VERIFIED CORRECT ANSWERS LATEST 2026-2027
NEW VERSION
When the insured and insurer disagree on the percentage of loss, the loss is settled
by the - answer>>>appraisal process
The appraisal process requires the services of - answer>>>appraisers and an umpire
The entity which sets MPCI rates is the - answer>>>FCIC
MPCI coverage begins - answer>>>At planting or seeding of the crop
The actual production history (APH) yield for MPCI is determined from producer
production records for a minimum of - answer>>>4 years, up to 10 consecutive crop
years
The factor used to complete the 4-year database for MPCI producers who provide
less than 4 successful years of actual yields is known as the - answer>>>Transitional
yield
When an insured has no insurable acreage to report for the crop year under the
MPCI policy, the agent must - answer>>>file a zero acreage report
Under the MPCI policy what symbol is used to designate "high risk" land? -
answer>>>AAA
The entity which determines the "high risk" land boundaries and rating is the -
answer>>>RMA
, -
Which document contains the "high risk" maps? - answer>>>County actuarials
The material for the crop year which is available for public inspection in the agent's
office is contained in the - answer>>>Actuarial document books
If a landlord insures his/her share of the crop under a MPCI Policy - answer>>>The
tenant may purchase insurance on his/her share
When insuring the same crop in the same county the insured may - answer>>>Insure
with only one MPCI policy
Under the MPCI Policy, what is the basis for insuring each parcel of land
independently of other parcels and covering specified crops at the described
location? - answer>>>Unit basis
A section contains - answer>>>640 acres
A quarter section contains - answer>>>160 acres
How many square feet are in an acre? - answer>>>43,560 square feet
A permitted percent of a coverage level that would be available under a MPCI policy
is - answer>>>65%
Coverage under the MPCI policy is available as a percent of the actual production
history (APH) in increments of - answer>>>5%
The administrative fee for CAT protection for each crop insured in each county is -
answer>>>$300
, The administrative fee for each crop year per county for all levels of coverage in
excess of CAT protection (a buy-up policy) is - answer>>>$30
The MPCI policy is - answer>>>A continuous contract
The Actual Production History (APH) Plan insures producers against - answer>>>Loss
in yield
Since an insurance contract is a personal contract, the policy covers the insurable
interest of the - answer>>>insured
The uncertainty or chance of loss is known as - answer>>>a risk
The cause of possible loss or the event insured against is known as - answer>>>a
peril
All of the following are direct losses except - answer>>>wind
The principle of insurance that provides that when a loss occurs, the insured should
be restored to the approximate financial condition occupied before the loss
occurred, no better or no worse is - answer>>>indemnity
Replacement cost minus depreciation is - answer>>>Actual Cash Value (ACV)
The policy condition that requires the insured to share in a loss is known as -
answer>>>coinsurance
When a fire occurs at a specific time or place, it is known as - answer>>>an
occurrence
