Dwelling Policy Quiz

Dwelling Policy Quiz

Professional Development

15 Qs

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Dwelling Policy Quiz

Dwelling Policy Quiz

Assessment

Quiz

Other

Professional Development

Hard

Created by

Quizizz Content

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a peril covered under DP 2 but not DP 1?

Internal explosion

Lightning

Fire

Freezing plumbing

Answer explanation

Freezing plumbing is covered under DP 2 but not DP 1, which only includes basic perils like fire, lightning, and internal explosion. DP 2 offers broader coverage, including damage from freezing.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of Coverage A is typically allocated to Coverage B — Other Structures?

20%

15%

10%

5%

Answer explanation

Typically, 10% of Coverage A is allocated to Coverage B — Other Structures. This standard allocation helps ensure that additional structures on the property are adequately covered.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the maximum duration for which a dwelling can remain vacant under the Special Provisions — Massachusetts endorsement before a claim can be denied?

30 days

45 days

60 days

90 days

Answer explanation

Under the Special Provisions — Massachusetts endorsement, a dwelling can remain vacant for a maximum of 45 days before a claim may be denied. Therefore, the correct answer is 45 days.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of the Automatic Increase in Insurance endorsement (DP 04 11)?

To decrease coverage limits annually

To automatically raise Coverage A by a specified percentage annually

To provide additional liability coverage

To cover theft of personal property

Answer explanation

The Automatic Increase in Insurance endorsement (DP 04 11) is designed to automatically raise Coverage A by a specified percentage annually, ensuring that the coverage keeps pace with inflation and rising construction costs.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under which coverage form is open-peril coverage provided for the dwelling?

DP 1 (Basic)

DP 2 (Broad)

DP 3 (Special)

None of the above

Answer explanation

DP 3 (Special) provides open-peril coverage for the dwelling, meaning it covers all risks except those specifically excluded. In contrast, DP 1 (Basic) and DP 2 (Broad) offer more limited coverage.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which coverage pays for lost rental income when a covered peril makes the premises untenantable?

Coverage E — Additional Living Expense

Coverage D — Fair Rental Value

Coverage A — Dwelling

Coverage C — Personal Property

Answer explanation

Coverage D — Fair Rental Value pays for lost rental income when a covered peril makes the premises untenantable, compensating the property owner for the income they would have received.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What additional coverage does DP 2 (Broad) form provide over DP 1?

Open-peril coverage

Named perils like falling objects and freezing plumbing

Liability coverage

Earthquake coverage

Answer explanation

DP 2 (Broad) form provides additional coverage for named perils, including falling objects and freezing plumbing, which are not covered under DP 1. This enhances protection against specific risks.

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