Heather Donaldson
Test por , creado hace más de 1 año

Licensure (Quizzes) Insurance Test sobre Homeowners and Dwelling Insurance, creado por Heather Donaldson el 21/07/2016.

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Heather Donaldson
Creado por Heather Donaldson hace más de 8 años
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Homeowners and Dwelling Insurance

Pregunta 1 de 60

1

The homeowners form which provides all risk coverage on the dwelling and broad coverage on personal property is:

Selecciona una de las siguientes respuestas posibles:

  • HO-3

  • HO-6

  • HO-8

  • HO-4

Explicación

Pregunta 2 de 60

1

Which of the following can be insured under an unendorsed homeowners policy?

Selecciona una de las siguientes respuestas posibles:

  • A farm or ranch

  • A mobile home

  • A dwelling which the owner rents to his distant relatives

  • A residence in which the owner-occupant also maintains an office for her accounting business

Explicación

Pregunta 3 de 60

1

Each of the following is a coverage under section 1 of the homeowners form EXCEPT

Selecciona una de las siguientes respuestas posibles:

  • Other structures

  • Dwelling

  • Personal property

  • Medical payments

Explicación

Pregunta 4 de 60

1

Which of the following coverages is available under the homeowners policy but not under the dwelling policy?

Selecciona una de las siguientes respuestas posibles:

  • Dwelling

  • Other Structures

  • Personal property

  • Liability

Explicación

Pregunta 5 de 60

1

An insured's dwelling purchased two years ago for $58,000 has a replacement value of $60,000 in order to qualify for replacement cost coverage in the event of a loss, for what amount of insurance must the homeowners policy be written?

Selecciona una de las siguientes respuestas posibles:

  • $58,000 on coverage A

  • $60,000 on coverage A minus 10%

  • $60,000 on coverage A

  • $48,000 on coverage A

Explicación

Pregunta 6 de 60

1

Which of the following are true of the loss of use coverage of a homeowners policy?

Selecciona una de las siguientes respuestas posibles:

  • It covers additional living costs incurred when the dwelling becomes inhabitable due to a peril insured against in the policy.

  • When part of the dwelling is rented to others, it covers loss of rent.

  • Both are true

  • Neither are true

Explicación

Pregunta 7 de 60

1

A homeowners endorsement used to provide stated value coverage for one or more on nine categories of personal property?

Selecciona una de las siguientes respuestas posibles:

  • Scheduled personal property

  • Personal effects

  • Personal article

  • Personal property

Explicación

Pregunta 8 de 60

1

Scheduled personal property would include:

Selecciona una de las siguientes respuestas posibles:

  • The building scheduled under the policy

  • Jewelry, furs, firearms, cameras, etc

  • Personal possessions such as furniture and cooking utensils

  • Autos and trailers

Explicación

Pregunta 9 de 60

1

A person having a homeowner's policy might wish to add an additional residence premises endorsement to cover a two-family home which she rents in order:

Selecciona una de las siguientes respuestas posibles:

  • To have protection for $50,000 of furnishings that she provides in her rentals

  • To protect her from possible liability if a tenant is hurt on her premises

  • In case someone coming to repair a broken window in the rental unit is hurt while working there.

Explicación

Pregunta 10 de 60

1

What coverage would be the same on an HO-3 and HO-8?

Selecciona una de las siguientes respuestas posibles:

  • Dwelling coverage and medical payments

  • Loss of use and dwelling coverages

  • Personal liability and medical payments

  • Theft and dwelling coverage

Explicación

Pregunta 11 de 60

1

Jack owns a condo and he wishes to insure his personal property, have liability coverage, and loss assessment coverage. What policy would meet Jack's needs?

Selecciona una de las siguientes respuestas posibles:

  • HO-2

  • HO-4

  • HO-6

  • DP-1

Explicación

Pregunta 12 de 60

1

A person had liability coverage on his car and an HO-3 on his house. An earthquake occurred and there was no sign of damage. An explosion happened several hours later and the garage and car burned. What would be covered?

Selecciona una de las siguientes respuestas posibles:

  • House, garage, and auto.

  • Auto only

  • Garage only

  • No coverage at all

Explicación

Pregunta 13 de 60

1

A man had an HO-4 policy with limits of $60,000 on personal property. While traveling in Europe, he suffered the following THEFT loss:

Clothes and luggage --- $20,000
Jewelry --- $20,000

There was a 20% depreciation. How much of the loss will be covered by his HO-4?

Selecciona una de las siguientes respuestas posibles:

  • $16,000

  • $17,500

  • $40,000

  • $36,000

Explicación

Pregunta 14 de 60

1

An HO-4 is sometimes referred to as:

Selecciona una de las siguientes respuestas posibles:

  • The condo form

  • The renter's form

  • Special risk insurance

  • All risk personal property

Explicación

Pregunta 15 de 60

1

What type of homeowners policy would be purchased to protect a tenant?

Selecciona una de las siguientes respuestas posibles:

  • HO-4

  • HO-6

  • HO-8

  • HO-3

Explicación

Pregunta 16 de 60

1

An HO-4 would cover:

Selecciona una de las siguientes respuestas posibles:

  • Apartment buildings

  • An apartment tenants personal property

  • Structural loss

  • Equipment belonging to the landlord

Explicación

Pregunta 17 de 60

1

What coverage does an HO-4 provide?

Selecciona una de las siguientes respuestas posibles:

  • Broad form personal property

  • All risk personal property

  • All risk on structure; broad form on personal property

  • All risk on personal property; all risk on structures

Explicación

Pregunta 18 de 60

1

What coverage does and HO-6 provide?

Selecciona una de las siguientes respuestas posibles:

  • Broad form coverage on personal property of a condo owner.

  • All risk coverage on personal property of a condo owner

  • All risk on structure; broad form on personal property

  • All risk on structure; all risk on personal property

Explicación

Pregunta 19 de 60

1

What provides all risk coverage on both personal and real property?

Selecciona una de las siguientes respuestas posibles:

  • HO-3 endorsed with an HO-5

  • HO-6

  • HO-4

  • HO-8

Explicación

Pregunta 20 de 60

1

An HO-8 is similar to

Selecciona una de las siguientes respuestas posibles:

  • HO-1

  • HO-2

  • HO-3

  • HO-4

Explicación

Pregunta 21 de 60

1

Which of the following would be correct about the minimum limits in section 2 of the homeowners policy?

Selecciona una de las siguientes respuestas posibles:

  • Medical payments $1000; personal liability $100,000

  • Medical payments $2000; personal liability $200,000

  • Medical payments $3000; personal liability $300,000

  • Medical payments $4000; personal liability $400,000

Explicación

Pregunta 22 de 60

1

Medical payments under a homeowners policy section #2 would cover:

Selecciona una de las siguientes respuestas posibles:

  • Insured

  • Insured, spouse, and all family residing in home

  • Insured, family, and guests

  • Guests on the premises

Explicación

Pregunta 23 de 60

1

Who can never collect under section #2 of a homeowners policy?

Selecciona una de las siguientes respuestas posibles:

  • A person hurt on the premises

  • A neighbor

  • An uninvited guest

  • A resident family member of the insured

Explicación

Pregunta 24 de 60

1

Which of the following would be covered under section #2 of a homeowners policy?

Selecciona una de las siguientes respuestas posibles:

  • Property damage

  • Professional liability

  • The insured's son trips over a sprinkler and breaks his leg

  • A neighbor's child trips over a sprinkler and breaks his leg

Explicación

Pregunta 25 de 60

1

Which of the following would not be covered under the comprehensive liability section of a homeowners policy?

Selecciona una de las siguientes respuestas posibles:

  • An insured is at a country club, swings his gold club like Mike Russ does, and hits another member over the head.

  • A guest at your home is hit by a swing on the porch

  • Your dog is tied to a tree and bites a neighbor's child

  • A house guest in injured while going to the country club in the insured's auto

Explicación

Pregunta 26 de 60

1

Under a homeowner's policy, what is the limit for business equipment in the home and used for business purposes?

Selecciona una de las siguientes respuestas posibles:

  • 0

  • $500

  • $1000

  • $2500

Explicación

Pregunta 27 de 60

1

Which of the following would be covered under a homeowners policy?

Selecciona una de las siguientes respuestas posibles:

  • Flood damage

  • Earthquake damage

  • Bodily injury to the insured's son

  • An article falls off an airplane flying overhead and crashes into the insured's home.

Explicación

Pregunta 28 de 60

1

If jewelry is stolen and the owner had a homeowner's policy, what, if anything, would the company pay?

Selecciona una de las siguientes respuestas posibles:

  • Nothing

  • Pay up to the special limits in the policy

  • Pay unlimited amounts

  • None of the above

Explicación

Pregunta 29 de 60

1

On a homeowner's policy, personal property away from the premises will be covered up to what percent of personal property?

Selecciona una de las siguientes respuestas posibles:

  • 10%

  • 20%

  • 50%

  • Full limit of personal property

Explicación

Pregunta 30 de 60

1

Which of these is true about a personal article floater?

Selecciona una de las siguientes respuestas posibles:

  • It provides "all risk" coverage for personal possessions on an unscheduled basis.

  • It provides "all risk" coverage for personal possessions on a scheduled basis.

  • It provides coverage for personal possessions carried by tourists and usually only applies to such property while away from the insured's home.

  • It is usually an endorsement to a homeowners policy

Explicación

Pregunta 31 de 60

1

Companies that sell homeowners policies in California:

Selecciona una de las siguientes respuestas posibles:

  • Must offer earthquake insurance

  • Must include earthquake insurance

  • Must offer earthquake insurance only in certain areas of California

  • Never offer such coverage

Explicación

Pregunta 32 de 60

1

A man had a HO-4 with limits of $30,000 on personal property. While traveling in Europe, he suffered the following loss:

Clothes and luggage --- $10,000
Jewelry --- $10,000

Disregarding any deductible and assuming there is a 20% depreciation on both categories, what would the company pay?

Selecciona una de las siguientes respuestas posibles:

  • $9,200

  • $10,000

  • $16,000

  • $20,000

Explicación

Pregunta 33 de 60

1

Section 2 of a homeowners policy covers:

Selecciona una de las siguientes respuestas posibles:

  • Personal liability of the insured on the insured's premises

  • Insured's 3 year old son who hits another child with a bat

  • Bodily injury to a guest on the insured's premises and insured's personal liability away from the premises

  • All the above

Explicación

Pregunta 34 de 60

1

Under a standard unendorsed homeowners policy, what would not be covered?

Selecciona una de las siguientes respuestas posibles:

  • Fire damage

  • Other structures on the property

  • Personal liability

  • Loss due to changes in construction code (ordinance or law regarding construction)

Explicación

Pregunta 35 de 60

1

An HO-3 would provide coverage for:

Selecciona una de las siguientes respuestas posibles:

  • Damage caused by earthquake

  • Damage to furniture while being removed during a fire

  • Damage to personal property caused by floor

  • All of the above

Explicación

Pregunta 36 de 60

1

Which of the following would an HO-3 cover?

Selecciona una de las siguientes respuestas posibles:

  • An office building

  • An apartment building

  • Single family, owner occupied, detached dwelling

  • Single family, renter occupied, detached dwelling

Explicación

Pregunta 37 de 60

1

Ordinance or law coverage in a homeowner's policy applies to which of the following?

Selecciona una de las siguientes respuestas posibles:

  • City law required dogs to be leashed. Your dog is unleashed and bites someone in the park.

  • City ordinance required swimming pools to be fenced and have self-closing gates. Your gate is not self-closing and a neighbor's child falls in the pool and is seriously hurt.

  • Your house burns down and you incur more costs as you must rebuild the house to code.

Explicación

Pregunta 38 de 60

1

A homeowners policy loss protection pays for small building losses to $500 at replacement cost even if replacement cost limits were not met

Selecciona uno de los siguientes:

  • VERDADERO
  • FALSO

Explicación

Pregunta 39 de 60

1

If a homeowner wants coverage for such things as libel and slander, what should the agent tell his client?

Selecciona una de las siguientes respuestas posibles:

  • Not to worry. It is included in the liability section of the homeowner's policy.

  • Have the client add a personal injury endorsement to the contract.

  • This cannot be covered under a homeowner's policy. The client will need a commercial general liability (CGL) policy.

Explicación

Pregunta 40 de 60

1

Under a homeowner's policy, the dwelling is valued at $100,000 and the garage at $20,000. In order to maintain the proper amount of coinsurance , the insured needs to carry what amount of insurance?

Selecciona una de las siguientes respuestas posibles:

  • Dwelling $100,000; garage $16,000

  • Dwelling $100,000; garage $8,000

  • Dwelling $80,000; garage $16,000

  • Dwelling $80,000; garage $8,000

Explicación

Pregunta 41 de 60

1

Why might a proeprty owner purchase a homeowner's policy instead of a dwelling policy?

Selecciona una de las siguientes respuestas posibles:

  • He does not need liability coverage

  • He owns six units and occupies one of the units

  • He wants broader coverage

Explicación

Pregunta 42 de 60

1

Which of the following would be covered under the personal liability section of a homeowner's policy?

Selecciona una de las siguientes respuestas posibles:

  • A personal liability away from the premises.

  • The insured's three year old child intentionally hits another child with a bat.

  • The insured accidentally drops a neighbor's camera and damages it.

  • All answers are correct.

Explicación

Pregunta 43 de 60

1

Which of the following situations wuld not be covered under the liability section of a homeowner's policy?

Selecciona una de las siguientes respuestas posibles:

  • A vehicle (owned and registered) only driven on the insured's property which includes ten acres of undeveloped land

  • A 1923 Ford (with no engine) that the insured is restoring in his garage

  • A gold car which the insured drives on the golf course

  • A power mover the insured rides to mow his own land

Explicación

Pregunta 44 de 60

1

In a homeowners policy, coverages A, B, and C refer to:

Selecciona una de las siguientes respuestas posibles:

  • Dwelling, medical payments, and liability

  • Dwelling, other structures, and personal property

  • Dwelling, other structures, and loss of use

  • Dwelling, personal property, and loss of use.

Explicación

Pregunta 45 de 60

1

Under homeowners policies HO-2, HO-4, and HO-6, the coverage for personal property is virtually the same:

Selecciona uno de los siguientes:

  • VERDADERO
  • FALSO

Explicación

Pregunta 46 de 60

1

Who would not be considered an insured for liability protection under a homeowner's policy?

Selecciona una de las siguientes respuestas posibles:

  • The insured's resident son.

  • The insured's resident spouse

  • The insured's resident 25 year old nephew

  • The insured's non-resident spouse

Explicación

Pregunta 47 de 60

1

An individual owns a duplex. Because of damage to one of the units, he has a loss of rental income. His insurance would be covered under:

Selecciona una de las siguientes respuestas posibles:

  • Basic, broad, and special forms of dwelling policies

  • Broad and special forms only

  • Not covered as he did not become a member of the household as required in a homeowner's policy

  • There is no coverage for duplexes.

Explicación

Pregunta 48 de 60

1

Which of the following may not be covered by a dwelling policy?

Selecciona una de las siguientes respuestas posibles:

  • Tenants improvements, alterations, or additions

  • Detached garage on the insured's premises

  • The insured's coin collection

  • Rents an insured may lose if rental property is damaged.

Explicación

Pregunta 49 de 60

1

The insured has two separate dwelling policies which cover the same property: policy A for $30,000 and policy B for $60,000. If the insured suffers a $12,000 loss, how much will be paid under policy B according to the other insurance clause?

Selecciona una de las siguientes respuestas posibles:

  • $12,000

  • $8,000

  • $4,000

  • $6,000

Explicación

Pregunta 50 de 60

1

What perils are covered under a basic dwelling policy?

Selecciona una de las siguientes respuestas posibles:

  • Fire only

  • Fire and lightning

  • Fire, lightning, and smoke damage

  • Fire, lightning, and internal explosion

Explicación

Pregunta 51 de 60

1

A basic dwelling policy automatically provides coverage against fire, lightning and:

Selecciona una de las siguientes respuestas posibles:

  • Windstorm

  • Internal explosion

  • Explosion

  • Riot

Explicación

Pregunta 52 de 60

1

Which dwelling form excludes burglary of personal property?

Selecciona una de las siguientes respuestas posibles:

  • Basic

  • Broad

  • Special

  • None of the above, all include coverage for burglary of personal property

Explicación

Pregunta 53 de 60

1

Which of the dwelling (homeowners) policies provide the most coverage?

Selecciona una de las siguientes respuestas posibles:

  • Basic

  • Broad

  • Special

  • Standard

Explicación

Pregunta 54 de 60

1

Under a dwelling policy, personal property away from the premises would be covered for what percent of personal property?

Selecciona una de las siguientes respuestas posibles:

  • 5%

  • 10%

  • 50%

  • 100%

Explicación

Pregunta 55 de 60

1

All of the following are reasons that a dwelling policy might be used instead of a homeowners policy EXCEPT:

Selecciona una de las siguientes respuestas posibles:

  • To cover a rental property

  • The insured does not need liability coverage

  • The home did not qualify for a homeowners policy

  • The insured wanted broader coverage for a lower premium

Explicación

Pregunta 56 de 60

1

Which of the dwelling forms excludes damage due to burglary?

Selecciona una de las siguientes respuestas posibles:

  • Basic

  • Broad

  • Special

  • All of the above

Explicación

Pregunta 57 de 60

1

A basic dwelling policy includes all of the following except:

Selecciona una de las siguientes respuestas posibles:

  • Trees, shrubs, plants, and lawn

  • May include extended coverage

  • May include vandalism and malicious mischief

  • Covers internal explosion

Explicación

Pregunta 58 de 60

1

A dwelling policy would not provide coverage for:

Selecciona una de las siguientes respuestas posibles:

  • A dwelling with 2 boarders

  • A dwelling with 5 boarders

  • A detached garage

  • A dwelling used for occasional business by the injured

Explicación

Pregunta 59 de 60

1

Replacement cost coverage for dwellings is available under:

Selecciona una de las siguientes respuestas posibles:

  • All dwelling policy forms

  • Only the special dwelling form

  • Only the basic and broad forms

  • Only the broad and special forms

Explicación

Pregunta 60 de 60

1

When a policy states coverage is based on an insured to value or replacement cost basis, how much insurance must you carry on the dwelling as compared to the total value of the dwelling?

Selecciona una de las siguientes respuestas posibles:

  • 75%

  • 80%

  • 90%

  • 100%

Explicación

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