State Farm Fire Independent Policy Exam 2024 QUESTIONS
AND CORRECT DETAILED ANSWERS AGRADE
RATED
Bill Smith constructed an awning beside his detached garage, under which he stores his small fishing boat. He screwed the framing of the awning to the fascia of the garage and supported the other side with posts set in concrete. Since the awning has no foundation, it is not considered a Coverage A item.
True or False - ANSWER✔✔False Mike and Jennifer Reed have an HO -3 policy in force with $250 deductible. Lightning struck the insured's house, damaging the house and the contents. Mike is a policeman and operates a engine repair shop in a shed on the insured premises. Jennifer is a sales representative and often has samples and merchandise at the house. The following items where listed on the personal property inventory forms submitted after the loss.
Cash in Mike's billfold $35.00 Cash in Jennifer's purse $160.00 Change in piggy bank $25.00 Hand tools used in Mike's business $780.00 1 / 3
Jennifer's sales samples $320.00 Mike's police uniform $375.00
- hunting rifles $1,820.00
- shotguns $870.00
Use the information listed above to answer the following question. How much would you pay for the money listed in this loss?
Select the single best answer:
A. $200
B. $220
C. $195
D. $185
- None of the above - ANSWER✔✔E
Mike and Jennifer Reed have an HO -3 policy in force with $250 deductible. Lightning struck the insured's house, damaging the house and the contents. Mike is a policeman and operates a engine repair shop in a shed on the insured premises. Jennifer is a sales representative and often has samples and merchandise at the house. The following items where listed on the personal property inventory forms submitted after the loss.
Cash in Mike's billfold $35.00 Cash in Jennifer's purse $160.00 Change in piggy bank $25.00 2 / 3
Hand tools used in Mike's business $780.00 Jennifer's sales samples $320.00 Mike's police uniform $375.00
- hunting rifles $1,820.00
- shotguns $870.00
Use the information listed above to answer the following question. How much would you pay for the hunting rifles and shotguns listed in this loss? Do not consider the deductible in calculating this answer.
Select the single best answer:
A. $2,000
B. $2,940
C - ANSWER✔✔2690
Mike and Jennifer Reed have an HO -3 policy in force with $250 deductible. Lightning struck the insured's house, damaging the house and the contents. Mike is a policeman and operates a engine repair shop in a shed on the insured premises. Jennifer is a sales representative and often has samples and merchandise at the house. The following items where listed on the personal property inventory forms submitted after the loss.
Cash in Mike's billfold $35.00 Cash in Jennifer's purse $160.00 Change in piggy bank $25.00 Hand tools used in Mike's business $780.00
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