TB - Crop Insurance

Question 0

Which of the following is considered to be “small grains” in corp insurance?

Corn

Barley

Grain Sorghum

Soybeans

Answer 0

Barley

Question 1

Which of the following would be co side red “coarse grains”?

Corn

Barley

Wheat

Oats

Answer 1

Corn

Question 2

Which is the broader coverage?

Crop-hail coverage

Multi-peril coverage

Excess peril coverage

None of the above

Answer 2

Multi-peril coverage

Question 3

Which of the following is subsidized by the federal government?

Crop-hail coverage

Multi-peril coverage

Both of the responses

Neither of the responses

Answer 3

Multi-peril coverage

Question 4

A farmer purchases a crop hail policy with a limit of $10,000 on 5000 acres that sustains a 30% loss. Coverage is written with a 5% minimum loss before the policy will pay. How much will the farmer receive?

$3000

$2500

$2000

$1500

Answer 4

$3000

The 5% minimum is merely a threshold to determine when a loss will be paid, it is not a deductible