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Chapter 7 - Miscellaneous Policy Features Flashcards | StudBud
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Chapter 7 - Miscellaneous Policy Features
Chapter 7 - Miscellaneous Policy Features
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1
All of the following are true about the Personal Articles Floater except...
There is no deductible
There are very few exclusions
Coverage is on an open perils basis
Claims are settled on a Market Value basis
2
Which is true of the boatowners policy?
It is for boats designed to be pulled by vehciles on a Personal Auto Policy
It provides personal property coverage
It includes a navigation territory
It includes a layup warranty
3
To be eligible for a flood policy the structure must have________.
underground access
a dedutible
two solid walls and a roof
at least one wall
4
Which floater contains a pair and sets clause?
Personal Jewelry
Musical instruments
Cameras
Personal Effects
5
Which is true about the Personal Effects Floater?
It is designed for tourists and travelers
It provides coverage anywhere in the world
It is the same as the Personal Articles Floater
There is a $500 deductible
6
In Mobile Home Insurance, what amount of coverage A is the Coverage C limit?
25%
50%
40%
100%
7
Which coverage on a mobile home policy has a different percentage assigned than on an HO-2, HO-3 or HO-5?
Coverage D
Coverage C
Coverage E
Coverage B
8
Which of the following would be covered with a Difference in Conditions Policy?
Earthquake
Lightning
Explosion
Fire
9
What does WYO stand for with regard to Flood Insurance?
"Wait for Your Offer"
WYO is not related to Flood Insurance
"Why are You Over" the limit?
"Write Your Own" Policy
10
Under the NFIP what is the maximum amount of coverage for a residential dwelling in the emergency program?
10,000
100,000
250,000
35,000
11
What policy might involve a Self Insured Retention?
Flood
Umbrella
Personal Articles Floater
Earthquake
12
What is the minimum amount to carry in Personal Umbrella Insurance?
$500
$1,000,000
$50,000
$500,000
13
The Fine Arts Floater provides all of the following except...
Coverage on an Agreed or Valued basis
Coverage for paintings, etchings and pictures
90 days of automatic coverage
Coverage for damage while being restored
14
Who qualifies for the NFIP?
Anyone who needs a federal loan
Communities near a body of water
Communities with an approved flood control program
Those who have a chance of experiencing a flood
