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WorksheetsTypes of Property
Total questions: 21
Worksheet time: 23mins
Both the broad theft and limited theft endorsements on the dwelling program exclude all of the following types of property EXCEPT
A. Credit cards.
B.Motor vehicles licensed for the road.
C. Aircraft.
D. Watercraft.
Which of the following would NOT be considered an insured under a homeowners policy?
A. Residents of the household that are blood relatives of the insured
B. An individual under age 21 in the care of but not related to the insured
C. Individuals named in the policy declarations
D. A divorced spouse living in another state
Johanna purchased a National Flood Insurance policy 10 days after her community entered an emergency program. When would her coverage be effective?
A. 5 days after the application and premium payment are mailed
B. 12:01 am the day after the application and premium payment are mailed
C. 30 days after the application has been accepted
D. 12:01 pm on the 5th day after the endorsement request has been mailed
If a loss occurs, the insured with a homeowners policy is required to do the following EXCEPT
.
A. Arrange for an appraisal by an unbiased third party.
B. Provide the insurer with prompt notice of the loss
C. Notify the police if a loss is caused by theft.
D. Protect the property from further damage, and keep records of any repair expenses.
Dwelling policy Coverage C – Personal Property will cover all of the following EXCEPT
.
A. Hobby aircraft.
B. Computer software.
C. Canoes.
D. Animals and birds
An insured has a special form dwelling policy written for $100,000 on a dwelling. The dwelling's replacement cost is $115,000. Fire causes $75,000 in damage to the dwelling, $15,000 damage to a separate garage, and kills 10 trees valued at $600 each. How much will the policy pay for the trees?
A$5,000
B$10,000
C$60,000
D$75,000
How long is the waiting period after the application has been accepted before flood coverage goes into effect?
A. 6 months
B. 12:01 am the next day
C. 5 days
D. 30 days
Who would participate in a Write Your Own (WYO) flood insurance program?
A. Businesses requiring National Flood Insurance policies
B.Private insurers that write and service National Flood Insurance policies on a no risk-bearing basis
C.Lloyd's associations
D.Government insurance companies that write and service National Flood Insurance policies
Additional coverages in the liability section of a homeowners policy cover all of the following EXCEPT
A.Damage to a third-party property for which the insured is legally liable.
B.Claims expense.
C.Expenses the insured incurs rendering first aid for bodily injury to third parties.
D.Damage to the property of others
Which of the following would be covered under the Broad Form (DP-2) policy’s falling object peril?
A. Exterior pavement and patio damage
B. Interior building damage if the exterior was damaged first
C. Damage to the building's awnings
D. Damage to outdoor television antennas if there is no interior damage
Which of the following would NOT be considered a flood?
A.Overflow of tidal waters
B.Mudslides
C.Runoff of surface waters
D.Sewer backup
The broad theft coverage endorsement on the dwelling form specifies all of the following limitations EXCEPT
A.$1,000 on silverware.
B.$200 on money.
C.$1,500 on securities.
D.$1,500 on jewelry.
How much is the premium for the dwelling under construction endorsement under the dwelling policy?
A.75% of the gross premium
B.The full value of the house
C.50% of the actual value premium
D.The average amount of insurance during construction
Which of the following is NOT covered by the condominium unit owners endorsement?
A.Furniture in the building
B.Alterations to the building
C.Appliances in the building
D.Fixtures in the building
An insured is a member of the neighborhood association, and has become liable for damage to a third party. Each member of the association has been assessed a portion of the loss equal to $2,000. How much will the Loss Assessment additional coverage of the insured’s homeowners liability policy pay?
A.Up to $1,000
B.$2,000
C.Nothing
D.Up to $500
The main difference between an HO-4 and an HO-6 is
A.HO-6 does not cover additional living expenses.
B.HO-4 provides limited dwelling coverage as well as contents coverage
C.HO-6 provides limited dwelling coverage as well as contents coverage.
D.HO-4 does not cover additional living expenses.
Within how many years of a loss may an insured bring a lawsuit against an insurer, according to the dwelling policy?
A.2 years
B.3 years
C.5 years
D.7 years
Losses that result from the freezing of a plumbing system while the dwelling is vacant would be EXCLUDED under a homeowners policy UNLESS
A.The insured purchased special form coverage.
B.The dwelling had been vacant for no more than 90 days.
C.The insured purchased the water damage endorsement.
D.The insured had drained the plumbing system.
If an insurer makes a change to broaden coverage in a dwelling policy while it is in effect, the changes will apply
A.When the policy is up for renewal.
B.Within 60 days.
C.Automatically.
D.When the new policy is written.
The contents coverage on a homeowners policy would pay how much after the loss of one of a pair of golden candlesticks?
A.The actual cash value of the pair
B.Nothing
C.The difference in the actual cash value as a pair and as a single
D.The replacement cost of the pair
A grave marker was damaged by vandals. It would cost $3,000 to have the damage repaired. Under these circumstances, how much would a homeowners policy pay?
A.$3,000
B.$0
C.$500
D.$1,000
