QUESTIONS AND CORRECT DETAILED ANSWERS AGRADE

State Farm Homeowner Policy FP-7955 Deducible Exam

QUESTIONS AND CORRECT DETAILED ANSWERS AGRADE

RATED

under an FP-7955 policy, deductibles apply to which of the following types of losses.

• Fire department service charges

in the FP-7955 policy, Coverage C consists of three coverages: 1. Additional

Living Expense, 2. Fair Rental Value and 3. Property Removed. True or False?

• False

Jennifer Marco has a FP-7955 policy with coverage B limit of $75,000, a $500 deductible and no option AI, ID, FA, or JF. Which of the following statements is true concerning her personal property.

• Coverage for personal property applies for perils listed under Section I - Losses

Insured, Coverage B - Personal Property and Section I - Additional Coverages.

The steps in applying the deductible on a FP-7955 homeowners policy are:

• The deductible is first applied to the covered loss.
• Any coverage or special limits are the applied to the covered loss.
• The amount payable to the insured will be the greater of the amounts arrived at

in steps 1 and 2. True or False? 1 / 3

• True

The definition of an insured includes all of the following except:

• Spouse

Composition shingles can be purchased in bundles which could be 1/3 square or 1/4 square. True or False?

• True

The formula for determining the area of a trapezoid is:

[(base1+base2) / 2] * height

The formula for determining the area of a triangle is:

1/2 base * height

The formula for determining the area of a circle is:

Blanket insulation is an uncut roll of insulation cut to length at the job site. It is used in walls and attics. and may or may not have a backing material.

• True

All of the following statements are true except: Select the false statement.

• Composition shingles are made of fiberglass or asphalt saturated roofing

material embedded with mineral granules

• Wood roofing is generally divided into two categories, wood shingles and

wood shakes.

• Composition shingle weights range from 120 lb. to 480 l.b per square
• Rigid roofing materials include cay, concrete, metal, and slate 2 / 3

• Composition shingle weights range from 120 lb. to 480 lb. per square.

Which of the following components is not a part of a roof truss?

• Bird's Mouth

Joe Smith has FP-7955 policy. He is a carpenter and has collected 100 2"x4" studs and 30 2"x6" ratters from various job sites. Joe has no specific plans to use the lumber. The lumbar is covered under Coverage A. True or False?False Under an FP-7955 policy, which of the following would be a Coverage B item?

• Free standing gas range

Under and FP-7955 policy, which of the following would not be a Coverage A item?

• Materials and supplies to build bookshelves in the basement of the residence

premises and stored in the garage An FP-7955 homeowners policy with an $250 deductible is in force and the policy limits (Coverage A and Coverage B) are adequate to cover this damage. During a severe windstorm, rain blows through open windows and causes the following damage; $1700- Hardwood floor in dining room $220- Water stains on drywall $125- Water stains on rug $375- Antique Vase (broken by wind) How much should you pay on this loss? All repairs have been made.2,170

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