Exam (elaborations)
State Farm Insurance License Exam Questions and Answers (2023/2024) (Verified Answers)
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State Farm Insurance License Exam Questions and Answers (2023/2024) (Verified Answers) 1.Abandonment Condition (ANS) 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. 2.Accident (ANS) A loss that occurs at a specific time and place 3.Actual Cash Value (ACV) (ANS) Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence.
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State Farm Property
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State Farm Property
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- August 2, 2023
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- Written in
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