Unit 7

Question 1

For all forms except HO-4 and HO-6, the primary amount of insurance is

Accepted Answer

Coverage A

Question 2

Which of these is NOT one of the 9 categories of valuables that are used in the scheduled personal property endorsement?

Accepted Answer

Antique car collection

Question 3

Which of these would NOT be covered under Coverage A or B of the homeowners policy?

Accepted Answer

A barn rented to a neighbor for a retail craft store

Question 4

Tom wants the max comprehensive protection for his home and personal property. Which policy should he purchase?

Accepted Answer

HO-5

Question 5

Which homeowners polciy form insures tenants in a rental property?

Accepted Answer

HO-4

Question 6

Under an unendorsed HO-3, losses to personal property are paid on

Accepted Answer

the actual cash value

Question 7

The homeowners policy provides porperty and liability coverage ina single policy. For this reason, it is called

Accepted Answer

a multiline policy

Question 8

The cancellation condition says that an insurance company can cancel a policy for any reason for the first 60 days with

Accepted Answer

10 days&#x27; written notice

Question 9

All of the statements about Section II of the homeowners policy are correct EXCEPT

Accepted Answer

the base personal liability limit for any one occurence is $250k

Question 10

Under an unendorsed homeowners policy, losses to the dwelling and other structures are paid on

Accepted Answer

a replacement cost

Question 11

Losses to personal property, awnings, carpeting, appliances, and structures that are not buildings are paid at

Accepted Answer

actual cash value

Question 12

Which of these liability endorsements provides coverage for libel, slander, false arrest, or "hurt feelings"?

Accepted Answer

Personal injury endorsement

Question 13

Which one of the following is not an additional coverage included in all homeowners forms?

Accepted Answer

Building additions and alterations

Question 14

Which of these theft losses would be completely covered if the loss were for the full value of the porperty described?

Accepted Answer

A $2,000 silver set

Question 15

Which is the standard liability limit for Coverage E?

Accepted Answer

$100k per occurence

Question 16

All of these classes of personal property are specifically excluded from homeowners coverage EXCEPT

Accepted Answer

Animals

Question 17

Property removed after a loss to protect from further damage is covered for

Accepted Answer

30 days

Question 18

Which of these is NOT specifically excluded from Coverage C of the homeowners policy?

Accepted Answer

Property of a guest

Question 19

Which of these statements is NOT true regarding the eligibility of insured under a homeowners policy?

Accepted Answer

The home cannot contain more than 2 families

Question 20

Which of these losses is NOT excluded in all homeowners forms?

Accepted Answer

Accidental and sudden discharge of water

Question 21

Which of these is excluded under Coverage E and F?

Accepted Answer

A 30 horsepower watercraft

Question 22

Damage to property of others is an additonal coverage that pays up to how much for property damaged by the insured?

Accepted Answer

$1,000 per occurence

Question 23

Which of these covers damages that the insured is legally obligated to pay because of bodily injury or property damage?

Accepted Answer

Coverage E

Question 24

Which of these classes of personal property have special limits for theft losses, but not for any other type of loss?

Accepted Answer

Firearms

Question 25

Which of these perils is covered in all homeowners forms?

Accepted Answer

Smoke

Unit 7

Questions 25

Unit 7

Questions 25