FARM
Chapter: Farm According to the Federal Crop Insurance definitions, all of the following cereal grains are classified as "small grains" EXCEPT A Corn B Oats C Wheat D Barley
A Corn Correct! Corn is classified by the Federal Crop Insurance Corporation as a coarse grain.
There are over 200 different crops that may be insured under crop insurance policies; however, the eligibility list varies A Geographically. B Seasonally. C According to weather patterns. D Annually.
A Geographically. Correct! There are over 200 different crops that may be insured under crop insurance policies; however, the eligibility list varies geographically.
Chapter: Farm A large antenna is damaged when a tree branch hits an insured farm dwelling during a storm. Coverage A of a farm property coverage form would insure damages for this occurrence up to A $1,000. B $2,000. C $3,000. D $4,000.
A $1,000. Correct! Antennas, towers, and satellite dishes attached to the dwelling are covered under Coverage A, but have a special limit of insurance of $1,000 in any 1 occurrence.
A large antenna is damaged when a tree branch hits an insured farm dwelling during a storm. Coverage A of a farm property coverage form would insure damages for this occurrence up to A $1,000. B $2,000. C $3,000. D $4,000.
A $1,000. correct! Antennas, towers, and satellite dishes attached to the dwelling are covered under Coverage A, but have a special limit of insurance of $1,000 in any 1 occurrence.
Under Coverage C of a farm policy, what is the limit payable on business property located away from the premises? A $500 B $1,000 C $100 D $250
A $500 correct! Business property located away from the premises is covered for up to $500.
Chapter: Farm Under Federal Crop Insurance policies, an insured may select a coverage level that indemnifies the insured should the yield fall below one of the following percentage of the historic yield, EXCEPT A 100%. B 50%. C 65%. D 75%.
A 100%. correct! Because to offer 100% indemnity would create a moral hazard, an insured must select a coverage level that is less than 100%.
Chapter: Farm Coverage J under farm coverage agrees to pay reasonable medical expenses, regardless of fault, caused by an accident if the expenses are incurred and reported to the insurer within how many years of the accident date? A 3 years B 4 years C 5 years D 2 years
A 3 years Correct! Coverage J agrees to pay reasonable medical expenses, regardless of fault, caused by an accident if the expenses are incurred and reported to the insurer within three years of the accident date. Review ContentNext Question
Coverage J under farm coverage agrees to pay reasonable medical expenses, regardless of fault, caused by an accident if the expenses are incurred and reported to the insurer within how many years of the accident date? A 3 years B 4 years C 5 years D years
A 3 years correct! Coverage J agrees to pay reasonable medical expenses, regardless of fault, caused by an accident if the expenses are incurred and reported to the insurer within three years of the accident date.
What is the highest level of protection available under a Federal Crop Insurance policy? A 75% B 65% C 50% D 100%
A 75% Correct! The levels of coverage under Federal Crop Insurance is not higher than 75% of the historic yield.
The 1980 Act requires FCIC to offer one price election that is not less than what percent of the projected market price for the commodity? A 90% B 25% C 100% D 50%
A 90% Correct! The 1980 Act requires FCIC to offer one price election that is not less than 90% of the projected market price for the commodity.
The 1980 Act requires FCIC to offer one price election that is not less than what percent of the projected market price for the commodity? A 90% B 25% C 100% D 50%
A 90% correct! The 1980 Act requires FCIC to offer one price election that is not less than 90% of the projected market price for the commodity.
Which of the following would be included in the farm liability coverage forms? A Bodily injury to a residence employee B Any obligation of the insured under a workers compensation law C Bodily injury to any person who is an insured D Bodily injury to an employed farmhand
A Bodily injury to a residence employee Correct! Just like HO liability, farm liability does not pay for injuries of anyone normally at the insured location except residence employees not covered by workers comp.
Which of the following would be included in the farm liability coverage forms? A Bodily injury to a residence employee B Any obligation of the insured under a workers compensation law C Bodily injury to any person who is an insured D Bodily injury to an employed farmhand
A Bodily injury to a residence employee Which of the following would be included in the farm liability coverage forms? ABodily injury to a residence employee BAny obligation of the insured under a workers compensation law CBodily injury to any person who is an insured DBodily injury to an employed farmhand
Chapter: Farm Which of the following would be included in the farm liability coverage forms? A Bodily injury to a residence employee B Any obligation of the insured under a workers compensation law C Bodily injury to any person who is an insured D Bodily injury to an employed farmhand
A Bodily injury to a residence employee correct! Just like HO liability, farm liability does not pay for injuries of anyone normally at the insured location except residence employees not covered by workers comp.
Chapter: Farm If a farm building or structure is vacant or unoccupied, which is true? A If for 120 consecutive days, the limits applicable to the building and its contents are reduced by 50%. B If for 30 consecutive days, no coverage for vandalism and malicious mischief, glass breakage, or theft. C If for 60 consecutive days, no coverage for vandalism and malicious mischief, glass breakage, or theft. D If for 60 consecutive days, amount paid for covered losses is reduced by 15%.
A If for 120 consecutive days, the limits applicable to the building and its contents are reduced by 50%. correct! The farm policy changes the standard vacant and unoccupancy conditions applying to HO and commercial policies.
Which of the following would the livestock coverage form NOT insure against? A The euthanasia of livestock after being hit by a vehicle B The euthanasia of livestock suspected of carrying mad cow disease C Death of livestock caused by accidental drowning D Death of livestock caused by a tornado
A The euthanasia of livestock after being hit by a vehicle Correct! The livestock coverage form covers the death or necessary destruction of livestock caused by basic causes of loss (except vehicles). Coverage may be extended to include death or necessary destruction by accidental shooting, drowning, electrocution, attack by dogs or wild animals, loading or unloading accidents, and building collapse. Review ContentNext Question
Which of the following would the livestock coverage form NOT insure against? A The euthanasia of livestock after being hit by a vehicle B The euthanasia of livestock suspected of carrying mad cow disease C Death of livestock caused by accidental drowning D Death of livestock caused by a tornado
A The euthanasia of livestock after being hit by a vehicle correct! The livestock coverage form covers the death or necessary destruction of livestock caused by basic causes of loss (except vehicles). Coverage may be extended to include death or necessary destruction by accidental shooting, drowning, electrocution, attack by dogs or wild animals, loading or unloading accidents, and building collapse.
Pete wants to have separate insurance coverage for separate acreages. What kind of insurance should Pete get? A Unit Insurance B Plot Insurance C There is no insurance of this kind. D Acre-by-acre Insurance
A Unit Insurance Correct! "Unit" insurance permits the writing of separate coverage for separate acreage. The benefit of having unit insurance, if you qualify, is that for indemnity payment purposes production on each unit is considered without regard to production on other units, or without regard to the insured's total production of the insured crop.
Question 11 of 12 Chapter: Farm Pete wants to have separate insurance coverage for separate acreages. What kind of insurance should Pete get? A Unit Insurance B Plot Insurance C There is no insurance of this kind. D Acre-by-acre Insurance
A Unit Insurance correct! "Unit" insurance permits the writing of separate coverage for separate acreage. The benefit of having unit insurance, if you qualify, is that for indemnity payment purposes production on each unit is considered without regard to production on other units, or without regard to the insured's total production of the insured crop.
Under Federal Crop Insurance policies, an insured may select a coverage level that indemnifies the insured should the yield fall below one of the following percentage of the historic yield, EXCEPT A 75%. B 100%. C 50%. D 65%.
B 100%. Correct! Because to offer 100% indemnity would create a moral hazard, an insured must select a coverage level that is less than 100%.
What is the required limit of insurance in the coinsurance clause for Coverage F - Unscheduled Farm Personal Property? A 75% B 80% C 85% D 90%
B 80% Correct! Coverage F - Unscheduled Farm Personal Property insures all farm personal property on a blanket basis. Coverage F is subject to an 80% coinsurance clause.
What is the required limit of insurance in the coinsurance clause for Coverage F - Unscheduled Farm Personal Property? A 75% B 80% C 85% D 90%
B 80% correct! Coverage F - Unscheduled Farm Personal Property insures all farm personal property on a blanket basis. Coverage F is subject to an 80% coinsurance clause.
Chapter: Farm The 1980 Act requires FCIC to offer one price election that is not less than what percent of the projected market price for the commodity? A 50% B 90% C 25% D 100%
B 90% Correct! The 1980 Act requires FCIC to offer one price election that is not less than 90% of the projected market price for the commodity.
When must application for coverage be made for Federal Crop Insurance? A At any time before the crop is harvested B At or before a date established by the Federal Crop Insurance Corporation C At any time before a loss has occurred D All applications must be submitted by April 15th each calendar year
B At or before a date established by the Federal Crop Insurance Corporation Correct! Dates are established by the Federal Crop Insurance Corporation for various crops in various regions of the country. Application for coverage or reports and requests to continue coverage must be submitted by those dates.
A farmer is remodeling his 100-year-old farmhouse. He is in the process of painting the porch and hanging shutters. He keeps his ladder, paint, and other materials used to remodel his home under the porch. Which of the following provides coverage for his remodeling materials? A Coverage D B Coverage A C Coverage B D Coverage C
B Coverage A Correct! Coverage A covers materials and supplies used to construct, alter, or repair the dwelling. These materials used to service the dwelling are located on or next to the insured dwelling.
A farmer is remodeling his 100-year-old farmhouse. He is in the process of painting the porch and hanging shutters. He keeps his ladder, paint, and other materials used to remodel his home under the porch. Which of the following provides coverage for his remodeling materials? A Coverage D B Coverage A C Coverage B D Coverage C
B Coverage A correct! Coverage A covers materials and supplies used to construct, alter, or repair the dwelling. These materials used to service the dwelling are located on or next to the insured dwelling.
Chapter: Farm The farm liability additional coverage that excludes coverage for borrowed farm equipment is the A Bodily injury and property damage coverage. B Damage to property of others coverage. C Supplementary payments coverage. D Medical liability coverage.
B Damage to property of others coverage. correct! The additional coverage of damage to property of others excludes coverage for borrowed farm equipment.
In farm insurance, Coverage I - Personal and Advertising Injury Liability for suits alleging personal injury is most similar to the coverage found in which coverage form? A Umbrella liability B General liability C Personal auto D Dwelling
B General liability Correct! The coverage provided for personal injury suits is similar to the personal injury coverage provided under a general liability coverage form. Review ContentNext Question
In farm insurance, Coverage I - Personal and Advertising Injury Liability for suits alleging personal injury is most similar to the coverage found in which coverage form? A Umbrella liability B General liability C Personal auto D Dwelling
B General liability correct! The coverage provided for personal injury suits is similar to the personal injury coverage provided under a general liability coverage form.
All of the following are exclusions under farm property coverage EXCEPT A Flood. B Loss of use. C Earth movement. D Ordinance or law.
B Loss of use. Correct! Loss of use is provided under Coverage D of a Farm policy; the rest are exclusions.
All of the following are exclusions under farm property coverage EXCEPT A Flood. B Loss of use. C Earth movement. D Ordinance or law.
B Loss of use. correct! Loss of use is provided under Coverage D of a Farm policy; the rest are exclusions.
Which of the following events causing financial loss to an insured would not be covered under Federal Crop Insurance? A Drought B Market price decline C Early freeze D Hail
B Market price decline Correct! Federal Crop Insurance covers loss of yield, but does not cover loss of value of crops because of a decline in the market.
Chapter: Farm All of the following property is insured under Coverage A of a farm policy EXCEPT A The dwelling described in the declarations page. B Personal lawnmower of a tenant used to service the described location. C Material on premises to be used for repair or alter the insured structure. D A snowblower owned by the insured used to service the premises.
B Personal lawnmower of a tenant used to service the described location. Correct! Property belonging to a tenant is not covered.
Chapter: Farm Pass Insurance sells a lot of crop insurance. Because they sell crop insurance, they are reinsured by who? A The FCA B The FCIC C The NAACP D The FFA
B The FCIC Correct! Private insurance companies conduct all aspects of the business: marketing; loss adjustment, claim payments, and data and information services. These companies receive compensation for their administrative and operating expenses and these companies are reinsured by FCIC.
Chapter: Farm Which of the following is NOT covered under Coverage E - Scheduled Farm Personal Property? A Fish B Turkeys C Portable structures D Livestock
B Turkeys Correct! Coverage E includes farm personal property insured on a scheduled basis and may include property such as: livestock (excluding livestock in transit or at a stockyard); other animals; bees, worms, and fish; poultry (excluding turkeys unless specified); computers related to farm management; miscellaneous equipment (such as tools); and portable structures.
Which of the following is NOT covered under Coverage E - Scheduled Farm Personal Property? A Fish B Turkeys C Portable structures D Livestock
B Turkeys Correct! Coverage E includes farm personal property insured on a scheduled basis and may include property such as: livestock (excluding livestock in transit or at a stockyard); other animals; bees, worms, and fish; poultry (excluding turkeys unless specified); computers related to farm management; miscellaneous equipment (such as tools); and portable structures.
Which of the following is NOT covered under Coverage E - Scheduled Farm Personal Property? A Fish B Turkeys C Portable structures D Livestock
B Turkeys correct! Coverage E includes farm personal property insured on a scheduled basis and may include property such as: livestock (excluding livestock in transit or at a stockyard); other animals; bees, worms, and fish; poultry (excluding turkeys unless specified); computers related to farm management; miscellaneous equipment (such as tools); and portable structures.
Chapter: Farm Which of the following exposures is insured under Coverage I - Personal and Advertising Injury Liability? A Breach of a written contract B Unintentional acts arising from the operation of a farming business C Failure of goods to perform D Statements made by an insured during their farm radio show
B Unintentional acts arising from the operation of a farming business correct! Coverage I provides coverage for suits arising from the operation of a farming business, provided the specific act is not otherwise excluded.
Which of the following exposures is insured under Coverage I - Personal and Advertising Injury Liability? A Breach of a written contract B Unintentional acts arising from the operation of a farming business C Failure of goods to perform D Statements made by an insured during their farm radio show
B Unintentional acts arising from the operation of a farming business correct! Coverage I provides coverage for suits arising from the operation of a farming business, provided the specific act is not otherwise excluded.
Farm policy Coverage B - Structures would pay how much for loss of an outside antenna, tower, or satellite dish? A Not more than $250 B Up to $1,000 C ACV on date of loss D Full replacement cost
B Up to $1,000 Correct! A special limit of $1,000 per occurrence applies to such items.
Chapter: Farm Coverage F - Unscheduled Farm Personal Property is subject to a coinsurance clause of A 50%. B 75%. C 80%. D 90%.
C 80%. Correct! Coverage F - Unscheduled Farm Personal Property insures all farm personal property on a blanket basis. Coverage F is subject to an 80% coinsurance clause.
Coverage F - Unscheduled Farm Personal Property is subject to a coinsurance clause of A 50%. B 75%. C 80%. D 90%.
C 80%. Correct! Coverage F - Unscheduled Farm Personal Property insures all farm personal property on a blanket basis. Coverage F is subject to an 80% coinsurance clause.
When must application for coverage be made for Federal Crop Insurance? A All applications must be submitted by April 15th each calendar year B At any time before the crop is harvested C At or before a date established by the Federal Crop Insurance Corporation D At any time before a loss has occurred
C At or before a date established by the Federal Crop Insurance Corporation correct! Dates are established by the Federal Crop Insurance Corporation for various crops in various regions of the country. Application for coverage or reports and requests to continue coverage must be submitted by those dates.
Chapter: Farm A farmer is remodeling his 100-year-old farmhouse. He is in the process of painting the porch and hanging shutters. He keeps his ladder, paint, and other materials used to remodel his home under the porch. Which of the following provides coverage for his remodeling materials? A Coverage C B Coverage D C Coverage A D Coverage B
C Coverage A Correct! Coverage A covers materials and supplies used to construct, alter, or repair the dwelling. These materials used to service the dwelling are located on or next to the insured dwelling.
Chapter: Farm In a farm policy, which of the following coverages would reimburse the insured for loss of rental income following damage to the insured dwelling by an insured peril? A Coverage A B Coverage C C Coverage D D Coverage E
C Coverage D Correct! Coverage D provides coverage for the loss of use of the insured dwelling when it is rendered uninhabitable because of damage by an insured peril.
In a farm policy, which of the following coverages would reimburse the insured for loss of rental income following damage to the insured dwelling by an insured peril? A Coverage A B Coverage C C Coverage D D Coverage E
C Coverage D Correct! Coverage D provides coverage for the loss of use of the insured dwelling when it is rendered uninhabitable because of damage by an insured peril.
The farm liability additional coverage that excludes coverage for borrowed farm equipment is the A Medical liability coverage. B Bodily injury and property damage coverage. C Damage to property of others coverage. D Supplementary payments coverage.
C Damage to property of others coverage. Correct! The additional coverage of damage to property of others excludes coverage for borrowed farm equipment.
Chapter: Farm In farm insurance, Coverage I - Personal and Advertising Injury Liability for suits alleging personal injury is most similar to the coverage found in which coverage form? A Dwelling B Umbrella liability C General liability D Personal auto
C General liability Correct! The coverage provided for personal injury suits is similar to the personal injury coverage provided under a general liability coverage form.
There are over 200 different crops that may be insured under crop insurance policies; however, the eligibility list varies A According to weather patterns. B Annually. C Geographically. D Seasonally.
C Geographically. correct! There are over 200 different crops that may be insured under crop insurance policies; however, the eligibility list varies geographically.
If a farm building or structure is vacant or unoccupied, which is true? A If for 60 consecutive days, no coverage for vandalism and malicious mischief, glass breakage, or theft. B If for 60 consecutive days, amount paid for covered losses is reduced by 15%. C If for 120 consecutive days, the limits applicable to the building and its contents are reduced by 50%. D If for 30 consecutive days, no coverage for vandalism and malicious mischief, glass breakage, or theft.
C If for 120 consecutive days, the limits applicable to the building and its contents are reduced by 50%. correct! The farm policy changes the standard vacant and unoccupancy conditions applying to HO and commercial policies.
What losses are considered when computing individual FMHA emergency loan eligibility? A Losses on any crop will be considered B Losses on crops that are not insurable will be considered C Losses on crops which the farmer chose to insure will be considered D Losses on all insurable crops will be considered
C Losses on crops which the farmer chose to insure will be considered Correct! If the farmer elects to insure some crops and not to insure other crops for which insurance was available, any loss on noninsured crops will not be considered in computing the individual FMHA emergency loan eligibility.
All of the following property is insured under Coverage A of a farm policy EXCEPT A A snowblower owned by the insured used to service the premises. B The dwelling described in the declarations page. C Personal lawnmower of a tenant used to service the described location. D Material on premises to be used for repair or alter the insured structure.
C Personal lawnmower of a tenant used to service the described location. Correct! Property belonging to a tenant is not covered.
Which of the following persons may be covered under farm Coverage J? A Additional insureds B Farm employees C Resident employees D First named insured
C Resident employees Correct! Farm employees are excluded from this coverage. However, resident employees are included. Furthermore, this coverage applies only to persons who are not insureds.
Pass Insurance sells a lot of crop insurance. Because they sell crop insurance, they are reinsured by who? A The FFA B The FCA C The FCIC D The NAACP
C The FCIC correct! Private insurance companies conduct all aspects of the business: marketing; loss adjustment, claim payments, and data and information services. These companies receive compensation for their administrative and operating expenses and these companies are reinsured by FCIC.
Chapter: Farm Which of the following would the livestock coverage form NOT insure against? A Death of livestock caused by accidental drowning B Death of livestock caused by a tornado C The euthanasia of livestock after being hit by a vehicle D The euthanasia of livestock suspected of carrying mad cow disease
C The euthanasia of livestock after being hit by a vehicle Correct! The livestock coverage form covers the death or necessary destruction of livestock caused by basic causes of loss (except vehicles). Coverage may be extended to include death or necessary destruction by accidental shooting, drowning, electrocution, attack by dogs or wild animals, loading or unloading accidents, and building collapse.
Which of the following statements is NOT true regarding mobile agricultural machinery and equipment coverage? A It covers detached parts and accessories of mobile devices. B It insures eligible equipment for open perils. C This coverage must be written as part of farm coverage. D It relates to devices used in the everyday farm operation.
C This coverage must be written as part of farm coverage. Correct! Mobile agriculture machinery and equipment coverage may also be written on a separate stand-alone policy.
Chapter: Farm Which of the following statements is NOT true regarding mobile agricultural machinery and equipment coverage? A It covers detached parts and accessories of mobile devices. B It insures eligible equipment for open perils. C This coverage must be written as part of farm coverage. D It relates to devices used in the everyday farm operation.
C This coverage must be written as part of farm coverage. correct! Mobile agriculture machinery and equipment coverage may also be written on a separate stand-alone policy.
Which of the following exposures is insured under Coverage I - Personal and Advertising Injury Liability? A Statements made by an insured during their farm radio show B Breach of a written contract C Unintentional acts arising from the operation of a farming business D Failure of goods to perform
C Unintentional acts arising from the operation of a farming business Correct! Coverage I provides coverage for suits arising from the operation of a farming business, provided the specific act is not otherwise excluded.
Pete wants to have separate insurance coverage for separate acreages. What kind of insurance should Pete get? A There is no insurance of this kind. B Acre-by-acre Insurance C Unit Insurance D Plot Insurance
C Unit Insurance correct! "Unit" insurance permits the writing of separate coverage for separate acreage. The benefit of having unit insurance, if you qualify, is that for indemnity payment purposes production on each unit is considered without regard to production on other units, or without regard to the insured's total production of the insured crop.
Chapter: Farm Farm policy Coverage B - Structures would pay how much for loss of an outside antenna, tower, or satellite dish? A Full replacement cost B Not more than $250 C Up to $1,000 D ACV on date of loss
C Up to $1,000 Correct! A special limit of $1,000 per occurrence applies to such items.
The cost of restoring farm records is an additional coverage offered under a farm policy. How much will the policy pay to restore the records? A Up to $1,000 B Up to $1,500 C Up to $2,000 D Up to $2,500
C Up to $2,000 Correct! The cost of restoring farm records is covered up to $2,000.
Chapter: Farm The cost of restoring farm records is an additional coverage offered under a farm policy. How much will the policy pay to restore the records? A Up to $1,000 B Up to $1,500 C Up to $2,000 D Up to $2,500
C Up to $2,000 correct! The cost of restoring farm records is covered up to $2,000.
The cost of restoring farm records is an additional coverage offered under a farm policy. How much will the policy pay to restore the records? A Up to $1,000 B Up to $1,500 C Up to $2,000 D Up to $2,500
C Up to $2,000 correct! The cost of restoring farm records is covered up to $2,000.
Chapter: Farm Under Coverage C of a farm policy, what is the limit payable on business property located away from the premises? A $1,000 B $100 C $250 D $500
D $500 Correct! Business property located away from the premises is covered for up to $500.
Coverage J under farm coverage agrees to pay reasonable medical expenses, regardless of fault, caused by an accident if the expenses are incurred and reported to the insurer within how many years of the accident date? A 4 years B 5 years C 2 years D 3 years
D 3 years Correct! Coverage J agrees to pay reasonable medical expenses, regardless of fault, caused by an accident if the expenses are incurred and reported to the insurer within three years of the accident date. Review ContentNext Question
What is the highest level of protection available under a Federal Crop Insurance policy? A 65% B 50% C 100% D 75%
D 75% correct! The levels of coverage under Federal Crop Insurance is not higher than 75% of the historic yield.
John is applying for crop-hail insurance. He has completed the application and signed it. His producer signed it as well and accepted the first premium from John. Assuming all this was done correctly, the application now serves as what? A Nothing B A rider C A life insurance policy D A binder
D A binder correct! In the crop-hail field, the application, when completed, must be signed by the applicant and the producer, with the time and date of signing. When properly completed, dated, and signed, and accompanied by the premium or a promissory note, the application serves as a binder. Review ContentNext Question
Chapter: Farm Loss of yield cause by any of the following events would be covered under a Federal Crop Insurance policy, except: A Mismanagement by the insured B Theft of crops by the insured C Loss of yield because of failure by the insured to use approved farming practices for the area D All are exceptions to coverage
D All are exceptions to coverage Correct! Losses caused by the insured involving criminal acts, mismanagement or neglect (failure to apply approved practices) are excluded from coverage.
Loss of yield cause by any of the following events would be covered under a Federal Crop Insurance policy, except: A Mismanagement by the insured B Theft of crops by the insured C Loss of yield because of failure by the insured to use approved farming practices for the area D All are exceptions to coverage
D All are exceptions to coverage Correct! Losses caused by the insured involving criminal acts, mismanagement or neglect (failure to apply approved practices) are excluded from coverage.
The standard crop-hail policy does not cover losses or damage caused by wind, rain, flood or frost. What perils are covered under the standard crop-hail policy? A Fire B Lightning C Hail D All of the above
D All of the above Correct! The perils covered under the standard crop-hail policy are hail, fire and lightning. Coverage against fire and lightning applies before the crop is harvested and while it is still in the field or being transported to first storage. The policy does not cover losses or damage caused by wind, rain, flood or frost.
The standard crop-hail policy does not cover losses or damage caused by wind, rain, flood or frost. What perils are covered under the standard crop-hail policy? A Fire B Lightning C Hail D All of the above
D All of the above correct! The perils covered under the standard crop-hail policy are hail, fire and lightning. Coverage against fire and lightning applies before the crop is harvested and while it is still in the field or being transported to first storage. The policy does not cover losses or damage caused by wind, rain, flood or frost.
Chapter: Farm Loss of yield from which of the following causes would be covered under a Federal Crop Insurance policy? A Flood B Drought C Insect infestation D Any of the above
D Any of the above Correct! Loss from unavoidable causes and acts of God are covered under Federal Crop Insurance.
Loss of yield from which of the following causes would be covered under a Federal Crop Insurance policy? A Flood B Drought C Insect infestation D Any of the above
D Any of the above Correct! Loss from unavoidable causes and acts of God are covered under Federal Crop Insurance.
Under farm liability, Coverage H includes A Loss of use. B Medical payments. C Other farm structures. D Bodily injury.
D Bodily injury. Correct! Bodily injury and property damage is covered under Coverage H.
Chapter: Farm Under farm liability, Coverage H includes A Loss of use. B Medical payments. C Other farm structures. D Bodily injury.
D Bodily injury. correct! Bodily injury and property damage is covered under Coverage H.
According to the Federal Crop Insurance definitions, all of the following cereal grains are classified as "small grains" EXCEPT A Oats B Wheat C Barley D Corn
D Corn Correct! Corn is classified by the Federal Crop Insurance Corporation as a coarse grain.
Farm fences (except field and pasture fences) are covered by which farm coverage form? A Coverage A B Coverage B C Coverage E D Coverage G
D Coverage G Correct! Fences, except pasture and field fences, are considered other farm structures and are covered by Coverage G - Other Farm Structures.
Chapter: Farm Farm fences (except field and pasture fences) are covered by which farm coverage form? A Coverage A B Coverage B C Coverage E D Coverage G
D Coverage G correct! Fences, except pasture and field fences, are considered other farm structures and are covered by Coverage G - Other Farm Structures.
Chapter: Farm The farm liability additional coverage that excludes coverage for borrowed farm equipment is the A Supplementary payments coverage. B Medical liability coverage. C Bodily injury and property damage coverage. D Damage to property of others coverage.
D Damage to property of others coverage. Correct! The additional coverage of damage to property of others excludes coverage for borrowed farm equipment.
In farm insurance, Coverage I - Personal and Advertising Injury Liability for suits alleging personal injury is most similar to the coverage found in which coverage form? A Personal auto B Dwelling C Umbrella liability D General liability
D General liability correct! The coverage provided for personal injury suits is similar to the personal injury coverage provided under a general liability coverage form.
Chapter: Farm Which of the following events causing financial loss to an insured would not be covered under Federal Crop Insurance? A Early freeze B Hail C Drought D Market price decline
D Market price decline Correct! Federal Crop Insurance covers loss of yield, but does not cover loss of value of crops because of a decline in the market.
The livestock coverage form covers which of the following losses? A Sheep died after an attack by the family dog B A cow died after it ran into a moving tractor C All risk coverage for death of livestock by any cause except those excluded D Named peril coverage for death of livestock
D Named peril coverage for death of livestock Correct! Livestock coverage is named peril coverage resulting in death or destruction of livestock by basic causes of loss except by vehicles.
Chapter: Farm The livestock coverage form covers which of the following losses? A Sheep died after an attack by the family dog B A cow died after it ran into a moving tractor C All risk coverage for death of livestock by any cause except those excluded D Named peril coverage for death of livestock
D Named peril coverage for death of livestock correct! Livestock coverage is named peril coverage resulting in death or destruction of livestock by basic causes of loss except by vehicles.
All of the following property is insured under Coverage A of a farm policy EXCEPT A Material on premises to be used for repair or alter the insured structure. B A snowblower owned by the insured used to service the premises. C The dwelling described in the declarations page. D Personal lawnmower of a tenant used to service the described location.
D Personal lawnmower of a tenant used to service the described location. correct! Property belonging to a tenant is not covered.
Chapter: Farm Which of the following statements is correct with regard to Federal Crop Insurance? A Policies are written on an annual nonrenewable basis. B Policies are written on a five year basis with premiums to be paid annually. C Policies are written on a three year basis with all premiums paid at the inception. D Policies are written on an annual basis and may be continued providing production reports are submitted in a timely manner and renewal premium is paid.
D Policies are written on an annual basis and may be continued providing production reports are submitted in a timely manner and renewal premium is paid. Correct! Policies are written on an annual basis. The coverage may be continued for subsequent years, providing the reports and renewal premiums are submitted in a timely manner.
Which of the following statements is correct with regard to Federal Crop Insurance? A Policies are written on an annual nonrenewable basis. B Policies are written on a five year basis with premiums to be paid annually. C Policies are written on a three year basis with all premiums paid at the inception. D Policies are written on an annual basis and may be continued providing production reports are submitted in a timely manner and renewal premium is paid.
D Policies are written on an annual basis and may be continued providing production reports are submitted in a timely manner and renewal premium is paid. Correct! Policies are written on an annual basis. The coverage may be continued for subsequent years, providing the reports and renewal premiums are submitted in a timely manner.
Chapter: Farm Which of the following persons may be covered under farm Coverage J? A First named insured B Additional insureds C Farm employees D Resident employees
D Resident employees correct! Farm employees are excluded from this coverage. However, resident employees are included. Furthermore, this coverage applies only to persons who are not insureds.
Which of the following persons may be covered under farm Coverage J? A First named insured B Additional insureds C Farm employees D Resident employees
D Resident employees correct! Farm employees are excluded from this coverage. However, resident employees are included. Furthermore, this coverage applies only to persons who are not insureds.
Chapter: Farm Which of the following is classified as a "coarse grain"? A Wheat B Oats C Barley D Soy beans
D Soy beans correct! Soy beans, corn and maize are classified as coarse grains.
Chapter: Farm In a farm policy, any cost incurred by the insurer for the investigation or defense of a claim will be paid by A The insured. B The DOI. C The NAIC. D The insurer.
D The insurer. Correct! Limits state that the most the insurer will pay in the result of a judgment against an insured is the limit stated in the policy. Any cost incurred by the insurer for the investigation or defense of a claim or suit will be paid by the insurer, over and above the limits shown in the policy.
In a farm policy, any cost incurred by the insurer for the investigation or defense of a claim will be paid by A The insured. B The DOI. C The NAIC. D The insurer.
D The insurer. Correct! Limits state that the most the insurer will pay in the result of a judgment against an insured is the limit stated in the policy. Any cost incurred by the insurer for the investigation or defense of a claim or suit will be paid by the insurer, over and above the limits shown in the policy.
Which of the following statements is NOT true regarding mobile agricultural machinery and equipment coverage? A It relates to devices used in the everyday farm operation. B It covers detached parts and accessories of mobile devices. C It insures eligible equipment for open perils. D This coverage must be written as part of farm coverage.
D This coverage must be written as part of farm coverage. correct! Mobile agriculture machinery and equipment coverage may also be written on a separate stand-alone policy.
Chapter: Farm Which of the following is NOT covered under Coverage E - Scheduled Farm Personal Property? A Portable structures B Livestock C Fish D Turkeys
D Turkeys correct! Coverage E includes farm personal property insured on a scheduled basis and may include property such as: livestock (excluding livestock in transit or at a stockyard); other animals; bees, worms, and fish; poultry (excluding turkeys unless specified); computers related to farm management; miscellaneous equipment (such as tools); and portable structures.