FREE INSURANCE AND STUDY GAMES ABOUT INSURANCE

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FREE INSURANCE AND STUDY GAMES ABOUT INSURANCE

EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -35 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: All of the following are general exclusions to the HO 3 policy except:

Answer:

Loss Assessment

Question 2: Which is excluded under Section I and covered under Section II?

Answer:

Animals, birds, or fish Question 3: Under HO property additional coverages, what is covered for debris removal expense?

Answer:

Reasonable cost to remove debris after a covered loss.Question 4: Which of the following is true regarding vehicles covered and not covered under Section II?

Answer:

All the insured`s vehicles and trailers towed by the insured are excluded from coverage.

Question 5: The following properties are included as an insured location and/or residence

premises for Liability and Medical except:

Answer:

Insured's relative cemetery plot Question 6: Under Section 1 Condition - Loss Settlement on an HO3, which of the following situations shows the insured is covered adequately in the event of a loss?

Answer:

The insured has $80,000 coverage on property worth $100,000.Question 7: Which of the following would NOT be covered under Section II of Medical Payment to Others?

Answer:

The insured`s pets that are injured on the insured`s property.Question 8: Which of the following is NOT an option of the California Residential Property Insurance Disclosure Statement?

Answer:

Fair Market Value Cost Coverage Question 9: Under property coverage, which of the following is covered under coverage A?

Answer:

Dwelling Question 10: Under Section 1 Condition - Loss Settlement, which of the following formulas is used to determine payment to an insured in the event of a loss?

Answer:

Insurance carried, divided by the insurance required, times the loss, minus the deductible, equals the loss payment.Question 11: Which HO endorsement covers loss due to personal injury (false arrest, libel, slander, defamation of character, and invasion of privacy?

Answer:

Personal Injury endorsement

Question 12: Coverage not provided without endorsement on a DP-1/Basic is:

Answer:

Coverage E Question 13: In property coverage, what is specifically covered under coverage B?

Answer:

other structures/ separate structures at the same location, such as garages, sheds and birdhouses on the described location that are separated from the dwelling by a clear space or connected only by a fence or utility line.Question 14: Under HO property additional coverages, what is covered for removal?

Answer:

Property removed from the insured`s premises to protect it from damage due to a covered loss.Question 15: Which of the following properties are NOT included in insured locations and residence premises under Section II of the Homeowner`s policy?

Answer:

Insured`s work office space Question 16: Under Section II - Additional Coverages, which of the following is NOT included?

Answer:

Medical Payments to Others Question 17: Under Section II of the Homeowners form, what does coverage E (personal liability) cover?

Answer:

This coverage will take affect if a claim is made against the insured for damages due to bodily injury or damage to the property caused by the insured`s negligent acts.Question 18: All of the following are true of a broad coverage form EXCEPT:

Answer:

No minimum amount of insurance is required for the basic form.

Question 19: Which is not an exclusion under Coverage A on an HO-3?

Answer:

Damage by a deer

Question 20: Which is not an "other coverage" in the dwelling forms?

Answer:

Volcanic eruption Question 21: Coverage D, loss of use, depends on which of the following for a limit of insurance to be applied?

Answer:

How much coverage is placed on the dwelling?

Question 22: Which is not a liability endorsement on the HO forms?

Answer:

Mobilehome Question 23: According to the ordinance or law exclusion, which of the following does NOT apply?

Answer:

This coverage is required by state law.Question 24: Under HO property coverage earth movement is a general exclusion. Which homeowners policy has done away with the exclusion for concurrent causation regarding this peril?

Answer:

HO 3 Question 25: According to Section II of the Homeowners policy (selected homeowners endorsements), which of the following is true of the mobile home endorsement?

Answer:

The mobile home is considered the dwelling being insured when it is endorsed on the policy.