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P and C Exam Prep: Chapter 6a - 6b Homeowners & Dwellings

Description

This practice quiz covers material presented in Geico's P and C Exam Prep Class for Chapters 6a-6b, Homeowners and Dwellings
ltcolonelswife
Quiz by ltcolonelswife, updated more than 1 year ago
ltcolonelswife
Created by ltcolonelswife about 9 years ago
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Resource summary

Question 1

Question
compared to the homeowners policy, the dwelling policy provides (broader/more limited) [blank_start]_______________________[blank_end]_property coverage.
Answer
  • more limited

Question 2

Question
Which of the following could be covered under a dwelling policy? (choose all that apply)
Answer
  • Mobile home not permanently located
  • Home under construction
  • Townhouse
  • Home rented to another person
  • Five-unit apartment building

Question 3

Question
Which of the following coverages are contained in an unendorsed dwelling policy?
Answer
  • Dwelling
  • Other structures
  • Liability
  • Personal Property
  • Fair Rental Value
  • Medical payments to others

Question 4

Question
Which of the following items of personal property would be covered under a dwelling policy?
Answer
  • Motorcycle
  • Poodle
  • Pool Table
  • Sailboat

Question 5

Question
A DP-1 automatically provides coverage for:
Answer
  • fire, lightning, and internal explosions
  • lightning and internal explosions
  • extended coverage perils only
  • vandalism and malicious mischief

Question 6

Question
Under the DP-1, the insured may opt to have property covered against:
Answer
  • fire, lightning, and internal explosions
  • all of the perils described in A plus the extended coverage perils
  • all of the perils described in A plus the extended coverage perils and vandalism and malicious mischief
  • any of the above

Question 7

Question
The DP-2 insures against fire, lightning, and which of the following?
Answer
  • The extended coverage perils, V&MM, and additional perils
  • The extended coverage perils only
  • V&MM only

Question 8

Question
The DP-3 provides:
Answer
  • basic coverage for the dwelling and broad coverage for personal property
  • broad coverage for the dwelling and basic coverage for personal property
  • open peril coverage for the dwelling and broad coverage for personal property
  • open peril coverage for both the dwelling and personal property

Question 9

Question
Which of the following other coverages are included in all dwelling forms? (choose all that apply)
Answer
  • Collapse
  • Fire department service charge
  • Debris removal
  • Reasonable repair
  • Trees, shrubs, and other plants
  • Glass or safety glazing material
  • Property removed

Question 10

Question
Under which of the dwelling forms may the insured be reimbursed for the replacement cost when the dwelling is destroyed?
Answer
  • All dwelling forms
  • DP-1 Only
  • DP-2 and DP-3
  • DP-3 only

Question 11

Question
the insured has a DP-3 covering a home that has a replacement value of $100,000. The insured carries $60,00 of insurance. Following a loss, it is determined that it would cost $12,000 to replace the damaged portion of the home. How much could the insured collect, assuming the ACV of the loss is $6,000?
Answer
  • $6,000
  • $9,000
  • $12,000
  • Nothing

Question 12

Question
Which dwelling forms pay losses to personal property on an actual cash value basis?
Answer
  • DP-1
  • DP-2
  • DP-3
  • All of the above

Question 13

Question
Which of the following would be covered under Coverage A or Coverage B of the dwelling policy?
Answer
  • A storage shed 100 feet in back of the insured's dwelling where she keeps various yard tools
  • A detached garage that has been altered to house a manufacturing operation
  • A stack of lumber placed at the edge of the insured's property that will be used to construct a boat shed
  • A water softener and water heater located in the insured's attached garage

Question 14

Question
Which of the following losses would be excluded under DP-1?
Answer
  • While the insured is on vacation, a power failure that occurs away from the insured's home causes the electricity to go off in the insured's neighborhood for 10 hours. As a result, large amounts of food stored in a freezer are ruined.
  • When Languid Lake overflows, the first story of the insured's home is flooded, causing extensive damage.
  • Following a fire, the insured suffers an additional loss because a city ordinance requires tht he replace his frame dwelling with more expensive fire-resistant materials.
  • An earthquake causes a fire that destroys the insured's home.

Question 15

Question
The Johnson's home is covered by the DP-3. When a fire damages the home, they are forced to stay at a motel for a month while repairs are made. What coverage would reimburse them for these expenses?
Answer
  • Coverage C - additional living space
  • Coverage E - additional living space
  • Coverage A (and; only if they had the additional open peril coverage)
  • None of the above.
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