STATE FARM HOMEOWNER POLICY FP 7955
DEDUCTIBLE ACTUAL EXAM PAPER 2025 FULL
QUESTIONS WITH ELABORATED COMPLETE
SOLUTIONS
◉ 3 Coverage Forms (Dwelling Program). Answer: 1.DP 00 01- Basic
2.DP 00 02-Broad
3.DP 00 03-Special
◉ Basic Form. Answer: Is a named peril coverage form and provides the
most limited coverage of the 3 forms. Losses under this form will be
paid on ACV basis.
◉ Basic Form Insures Against. Answer: 1. Fire
2.Lightning
3.Internal Explosion
4. Windstorm or Hail
5.Explosion
6.Smoke- Loss or damage
7.Aircraft and vehicles- loss or damage
8.Riot or civil commotion
9.Volcanic Eruption
,◉ WHARVES. Answer: Can be used to remember extended coverage
perils: Windstorm Hail Aircraft/vehicle Riot/civil commotion Volcanic
eruption Explosion Smoke
◉ W.C SHAVER. Answer: Can be used to remember extended coverage
perils: Windstorm, Civil commotion ,Smoke Hail, Aircraft, Vehicle and
volcano, Explosion and Riots.
◉ Vandalism and Malicious Mischief (VMM). Answer: Protects
property against damage or loss caused by vandals. May be added by
Endorsement to the DP-1 Basic Form; included coverage in many other
Property forms. There is no coverage if proceeding the loss , the
insureds premisies have been vacant for more than 60 consecutive days
under (DP '02)
◉ Broad Form. Answer: Losses to the dwelling are covered on a
replacement cost basis as long as the insured maintains a minimum
amount of coverage equal to 80% of the dwelling replacement cost. This
form expands the cause of loss insured under the basic form. There are 7
additional perils insured in the broad form-extended coverage perils,
vandalism and malicious mischief.
◉ Broad Form Insures Against. Answer: All Basic Form Perils +
1.Burglary damage
2.Falling Objects- Loss or Damage
3.Weight of Ice, Snow, Sleet- Loss or Damage
, 4.Tearing apart, cracking, burning, or bulging
5.Accidental Discharge or Overflow of water or Steam
6.Freezing of Plumbing
7.Electrical ( artificially generated)
This also expands coverage for explosion, vehicles, and vandalism and
malicious mischief.
◉ B.B BICE-GOLF. Answer: Can be used to remember the broad
coverage perils.
*Bursting of heating systems
*Burglary damage
*Ice, snow, or sleet weight
*Collapse of building or part of building
* Glass breakage
*Objects falling from outside
*Leakage of water or steam damage
*Freezing of plumbing
In addition this also includes:
Lawns,Trees, shrubs, and palnts
Breakage of glass
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DEDUCTIBLE ACTUAL EXAM PAPER 2025 FULL
QUESTIONS WITH ELABORATED COMPLETE
SOLUTIONS
◉ 3 Coverage Forms (Dwelling Program). Answer: 1.DP 00 01- Basic
2.DP 00 02-Broad
3.DP 00 03-Special
◉ Basic Form. Answer: Is a named peril coverage form and provides the
most limited coverage of the 3 forms. Losses under this form will be
paid on ACV basis.
◉ Basic Form Insures Against. Answer: 1. Fire
2.Lightning
3.Internal Explosion
4. Windstorm or Hail
5.Explosion
6.Smoke- Loss or damage
7.Aircraft and vehicles- loss or damage
8.Riot or civil commotion
9.Volcanic Eruption
,◉ WHARVES. Answer: Can be used to remember extended coverage
perils: Windstorm Hail Aircraft/vehicle Riot/civil commotion Volcanic
eruption Explosion Smoke
◉ W.C SHAVER. Answer: Can be used to remember extended coverage
perils: Windstorm, Civil commotion ,Smoke Hail, Aircraft, Vehicle and
volcano, Explosion and Riots.
◉ Vandalism and Malicious Mischief (VMM). Answer: Protects
property against damage or loss caused by vandals. May be added by
Endorsement to the DP-1 Basic Form; included coverage in many other
Property forms. There is no coverage if proceeding the loss , the
insureds premisies have been vacant for more than 60 consecutive days
under (DP '02)
◉ Broad Form. Answer: Losses to the dwelling are covered on a
replacement cost basis as long as the insured maintains a minimum
amount of coverage equal to 80% of the dwelling replacement cost. This
form expands the cause of loss insured under the basic form. There are 7
additional perils insured in the broad form-extended coverage perils,
vandalism and malicious mischief.
◉ Broad Form Insures Against. Answer: All Basic Form Perils +
1.Burglary damage
2.Falling Objects- Loss or Damage
3.Weight of Ice, Snow, Sleet- Loss or Damage
, 4.Tearing apart, cracking, burning, or bulging
5.Accidental Discharge or Overflow of water or Steam
6.Freezing of Plumbing
7.Electrical ( artificially generated)
This also expands coverage for explosion, vehicles, and vandalism and
malicious mischief.
◉ B.B BICE-GOLF. Answer: Can be used to remember the broad
coverage perils.
*Bursting of heating systems
*Burglary damage
*Ice, snow, or sleet weight
*Collapse of building or part of building
* Glass breakage
*Objects falling from outside
*Leakage of water or steam damage
*Freezing of plumbing
In addition this also includes:
Lawns,Trees, shrubs, and palnts
Breakage of glass
Collapse
