Real Estate > QUESTION PAPER & MARK SCHEME > State Farm 2023 Questions And Verified Answers (All)

State Farm 2023 Questions And Verified Answers

Document Content and Description Below

State Farm Pure risk ANSWER- Financial loss is the only possible outcome, no chance for financial gain (ex: accidents, sickness, fire, disabilities) Speculative Risk ANSWER- Where there is an ou... tcome for either financial gain or none (ex: gambling, stock market, real estate) Morale Hazards ANSWER- Refer to the insureds state of mind, usually lapses in judgement are occurring so remember lots of E's in carelessness, indifference, and imprudence (ex: speeding to get home to watch a TV show) Moral Hazards ANSWER- When an insured is dishonest and has little regard toward future responsibilities (ex: lying, fraudulent claims, smoking, drug addiction) Peril's? ANSWER- The cost of lost listed within a policy for which the insurer will provide protection against. (Ex: life and health insurance protects against medical expense, death, loss of income while homeowners insurance will protect against FIRE, WIND, HAIL Where can Peril's on your test be found? ANSWER- They can be found in the Insurance clause also known as the Insurance agreement. Let's talk about LOSS when it comes to insurance? ANSWER- An insurer will pay out a claim only if it results in a loss to the insured. Such as rain may create hazardous road conditions but there was no loss to the insured. Fire is a peril listed in the policy, however if there was no damage to anything, no loss, no claim to be paid. Exposure is what? ANSWER- Exposure is a method of measurement that defines how prone a risk is to loss. (Ex: age, sex, occupation, advocates, medical history, can all be units of exposure) IMPORTANT —> a male firefighter is more exposed to death than a female firefighter because on average males die earlier. Methods of handling Risk ANSWER- Avoidance, Retention (when the insured retains a portion of the risk themselves, this encourages safe practices to lower losses) an example would be a DEDUCTIBLE) sharing (splitting up into many so total loss doesn't occur), Reduction (lowers the chance of loss through maintenance of either property or body. (Working out and eating healthy reduces the chance of heart disease) TRANSFER (insurance is the transfer of financial risk, instead of the insured taking full responsibility for their losses; they transfer a financial risk to an insurer) [Show More]

Last updated: 5 months ago

Preview 1 out of 9 pages

Reviews( 0 )

Recommended For You

 Real Estate> QUESTION PAPER & MARK SCHEME > State Farm 2023 Questions And Answers (All)

preview
State Farm 2023 Questions And Answers

StateFarm Property Terms Assuming the insurer and the insured agree to the amount payable for a loss covered under a dwelling policy, how soon after the insurer has received proof of loss must it m...

By SmartDr , Uploaded: Sep 06, 2023

$8

 *NURSING> QUESTION PAPER & MARK SCHEME > Straighterline A&P 1 Cumulative Final Questions and answers. Latest, For help with Straighterline courses, reach me at [email protected]. I guarantee Grade A+ whih is 95% and above (All)

preview
Straighterline A&P 1 Cumulative Final Questions and answers. Latest, For help with Straighterline courses, reach me at [email protected]. I guarantee Grade A+ whih is 95% and above

Which is an example of a normally occurring positive-feedback mechanism? - Ans-stretching of the uterus near the end of pregnancy Which of the following is the most widely distributed type of muscl...

By bundleHub Solution guider , Uploaded: Jun 10, 2022

$8

 *NURSING> QUESTION PAPER & MARK SCHEME > A & P 2 Straighterline Final Exam-. With Solutions. 99% Predictor Questions and answers. Rated A+, For help with Straighterline courses, reach me at [email protected]. I guarantee Grade A+ whih is 95% and above (All)

preview
A & P 2 Straighterline Final Exam-. With Solutions. 99% Predictor Questions and answers. Rated A+, For help with Straighterline courses, reach me at [email protected]. I guarantee Grade A+ whih is 95% and above

When erythrocytes are destroyed, which of the following events occurs? - Ans-The globin portion of the molecule is broken down into amino acids. Type AB blood - Ans-has both A and B antigens on the...

By bundleHub Solution guider , Uploaded: Jun 10, 2022

$8

 Chemistry> QUESTION PAPER & MARK SCHEME > CHEM 101-Straighterline Exam 1. 100% Accurate Answers. Graded A +, For help with Straighterline courses, reach me at [email protected]. I guarantee Grade A+ whih is 95% and above (All)

preview
CHEM 101-Straighterline Exam 1. 100% Accurate Answers. Graded A +, For help with Straighterline courses, reach me at [email protected]. I guarantee Grade A+ whih is 95% and above

A substance in which the atoms or molecules are free to move relative to one another. It always assumes the shape and volume of its container. - Ans-gas A substance in which the atoms or molecules...

By bundleHub Solution guider , Uploaded: Jun 10, 2022

$7

 Physics> QUESTION PAPER & MARK SCHEME > PHYS Straighterline Review Questions and Answers, Rated A+, For help with Straighterline courses, reach me at [email protected]. I guarantee Grade A+ whih is 95% and above (All)

preview
PHYS Straighterline Review Questions and Answers, Rated A+, For help with Straighterline courses, reach me at [email protected]. I guarantee Grade A+ whih is 95% and above

An amusement park game consists of throwing a quarter into a small bowl. If you win, you get to take home a giant purple stuffed elephant. The dish is on a shelf that is 0.4 m above the point where th...

By bundleHub Solution guider , Uploaded: Jun 10, 2022

$10

 Psychology> QUESTION PAPER & MARK SCHEME > WGU C180 Intro to Psychology Questions and answers, latest version. (All)

preview
WGU C180 Intro to Psychology Questions and answers, latest version.

WGU C180 Intro to Psychology Questions and answers, latest version. empirical study - ✔✔Results of verifiable evidence from a systematic collection and analysis of data that has been objectively o...

By Topmark , Uploaded: Mar 13, 2023

$7

 *NURSING> QUESTION PAPER & MARK SCHEME > NEW RPSGT EXAM- Study Guide and Practice Test Latest Update Graded A+ (All)

preview
NEW RPSGT EXAM- Study Guide and Practice Test Latest Update Graded A+

NEW RPSGT EXAM- Study Guide and Practice Test Latest Update Graded A+ The purpose of an intentional mask leak is to... ✔✔ Wash out CO2 and prevent rebreathing Recommended guidelines state that H...

By Crescent , Uploaded: Dec 20, 2022

$9

 *NURSING> QUESTION PAPER & MARK SCHEME > FINAL. (All)

preview
FINAL.

A child with acute poststreptococcal glomerulonephritis is voiding smoky, brown-colored urine and asks the healthcare professional to explain what causes it. What explanation by the professional is...

By Passmark , Uploaded: Aug 22, 2022

$5

 Classical Civilisation> QUESTION PAPER & MARK SCHEME > OCR A Level Classical Civilisation H408/24 Greek Art/ A Level Classical Civilisation H408/24 Greek Art MARK SCHEME . 100% GRADED A+ (All)

preview
OCR A Level Classical Civilisation H408/24 Greek Art/ A Level Classical Civilisation H408/24 Greek Art MARK SCHEME . 100% GRADED A+

Answer all the questions in this section. Source A: A free-standing sculpture 1 Give the date of the statue in Source A. [1] 2 (a) With which two gods has the statue in Source A been identified? [1...

By SupremeDocs , Uploaded: Aug 07, 2022

$9

 Classical Civilisation> QUESTION PAPER & MARK SCHEME > OCR A Level Classical Civilisation H408/23 Invention of the barbarian. QUESTION PAPER AND MARKING SCHEME. 100% GRADED A+ (All)

preview
OCR A Level Classical Civilisation H408/23 Invention of the barbarian. QUESTION PAPER AND MARKING SCHEME. 100% GRADED A+

How can you tell that the figure on the left in Source A represents a Persian? Give two reasons. [2] 2 Which battle does the frieze in Source A commemorate? [1] 3 Describe how typical the portrayal...

By SupremeDocs , Uploaded: Aug 07, 2022

$9

$8.50

Add to cart

Instant download

Can't find what you want? Try our AI powered Search

OR

GET ASSIGNMENT HELP
27
0

Document information


Connected school, study & course



About the document


Uploaded On

Sep 06, 2023

Number of pages

9

Written in

Seller


seller-icon
SmartDr

Member since 1 year

1 Documents Sold


Additional information

This document has been written for:

Uploaded

Sep 06, 2023

Downloads

 0

Views

 27

THE BEST STUDY GUIDES

Avoid resits and achieve higher grades with the best study guides, textbook notes, and class notes written by your fellow students

custom preview

Avoid examination resits

Your fellow students know the appropriate material to use to deliver high quality content. With this great service and assistance from fellow students, you can become well prepared and avoid having to resits exams.

custom preview

Get the best grades

Your fellow student knows the best materials to research on and use. This guarantee you the best grades in your examination. Your fellow students use high quality materials, textbooks and notes to ensure high quality

custom preview

Earn from your notes

Get paid by selling your notes and study materials to other students. Earn alot of cash and help other students in study by providing them with appropriate and high quality study materials.

WHAT STUDENTS SAY ABOUT US


What is Browsegrades

In Browsegrades, a student can earn by offering help to other student. Students can help other students with materials by upploading their notes and earn money.

We are here to help

We're available through e-mail, Twitter, Facebook, and live chat.
 FAQ
 Questions? Leave a message!

Follow us on
 Twitter

Copyright © Browsegrades · High quality services·