State Farm Auto Study guides, Class notes & Summaries

You're preparing an estimate on a customer's vehicle that requires refinishing of the hood and right front fender only. The hood is the first panel listed on the estimate. According to most Collision Estimating Guides, would refinish overlap be applicable on the hood? Choose the most correct statement. Select the single best answer: A. Overlap would not be applicable on the hood refinish time as it's the first major panel. A refinish overlap deduction would be applicable to the fender ref...

Competitive Bids - The competitive bid process requires that two or more repairers submit competitive estimates or "bids" for a specific repair job. The amount of the low, complete bid is generally considered to be the "competitive" price and is used as the basis for settlement. In all cases, the vehicle owner selects the facility that will perform repairs. PCPs - State Farm uses a continuous survey that gives repairers the opportunity to provide information online. The repairer info...

State Farm Auto Adjuster Certification Exam With A+ Graded Answers ACV actual cash value After Market Parts Parts produced by a 3rd party for use on automobiles. Betterment An improvement made to and automobile that increases its value, rather than a repair that simply maintains its current value BL Blend Blend This operation is equal to half the RF time on a panel. Blend would be necessary if an adjacent panel required some paint so the color would match. If damage is within 18" of a...

STATE FARM AUTO BOOKLET QUESTIONS AND ANSWERS WITH RATED SOLUTIONS

State Farm Auto Exam 2023, With Complete Solution Competitive Bids The competitive bid process requires that two or more repairers submit competitive estimates or "bids" for a specific repair job. The amount of the low, complete bid is generally considered to be the "competitive" price and is used as the basis for settlement. In all cases, the vehicle owner selects the facility that will perform repairs. PCPs State Farm uses a continuous survey that gives repairers the opportunity ...

State Farm Auto Exam Questions and Answers 100% Verified and Updated 2024 Competitive Bids - Answer- The competitive bid process requires that two or more repairers submit competitive estimates or "bids" for a specific repair job. The amount of the low, complete bid is generally considered to be the "competitive" price and is used as the basis for settlement. In all cases, the vehicle owner selects the facility that will perform repairs. PCPs - Answer- State Farm uses a continuous ...

State Farm Insurance License Exam Questions and Answers Abandonment Condition - Answer- A 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. Accident - Answer- A loss that occurs at a specific time and place Actual Cash Value (ACV) - Answer- Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. admitted insurer; author...

State farm auto external claim Resource Certification Exam Questions and Answers 100% Pass You're preparing an estimate on a customer's vehicle that requires refinishing of the hood and right front fender only. The hood is the first panel listed on the estimate. According to most Collision Estimating Guides, would refinish overlap be applicable on the hood? Choose the most correct statement. Select the single best answer: A. Overlap would not be applicable on the hood refinish time as ...

State Farm Property Exam Questions and Answers 100% Pass In property insurance actual cash value is defined as which of the following - Answer- Replacement cost at the time of the loss, less depreciation Peril is most easily defined as - Answer- the cause of loss insured against What is a leading factor in the determination of actual cash value - Answer- replacement cost Replacement cost is defined as - Answer- full replacement of property at its current cost, new and without reduction f...