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Examen
State Farm 2023|With 100% Complete Solutions|Already Graded A
Who owns thier renewals 
Independents 
 
 
 
Events that may NOT be recovered by insurance are 
Gambling, investing, market value of home 
 
 
 
What underlying coverages typically are required for an umbrella 
Auto and Personal 
 
 
 
Conditions that prohibit assignments of the policy 
Transfer of rights and duties 
 
 
 
Expectant interest are 
Not insured 
 
 
 
Flood, power failure and earth movement are 
Excluded on DP & HO 
 
 
 
What are the 3 principle rating factors for personal auto 
1...
Examen
State Farm 2023 Questions and Answered 100% Correct
PopularAbandonment - ANSWER-The abdication of insured property into the hands of another, or into the possession of no one in particular. 
 
Absolute Liability - ANSWER-A type of liability that occurs due to extremely dangerous operations, such as the use of explosives or working at extreme heights. 
 
Accident - ANSWER-An unplanned, unforeseen event which occurs suddenly and at a specific place. 
 
Actual Cash Value (ACV) - ANSWER-The required amount to pay damages or for property loss, which is calcu...
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