State Farm Property Test | 100% CORRECT ANSWERs

State Farm Property Test | 100% CORRECT ANSWERs
Question : In property insurance actual cash value is defined
as which of the following
CORRECT ANSWER: Replacement cost at the time of the
loss, less depreciation
Question : Peril is most easily defined as
CORRECT ANSWER: the cause of loss insured against
Question : What is a leading factor in the determination of
actual cash value
CORRECT ANSWER: replacement cost
Question : Replacement cost is defined as
CORRECT ANSWER: full replacement of property at its
current cost, new and without reduction for depreciation

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