Section 4 Dwelling Policy Practice Questions and Answers.
all of the following are true regarding the DP-2 Broad Form policy EXCEPT
a. it is a Named Peril form
b. is is ACV on the contents
c. it contains the 80% Coinsurance clause
d. theft is a covered peril correct answers d
On the DP-1 Basic Form, all of the following are covered under the Perils of Extended Coverage
EXCEPT
a. vehicles
b. aircraft
c. vandalism
d. riot and civil commotion correct answers c
The DP-2 Broad Form automatically insures covered property against loss from any cause while
being removed from a premises endangered by a peril insured against for no more than:
a. five days
b. 30 days
c. 60 days
d. 90 days correct answers b
On a dwelling property form, coverage B, Other Structures, excludes all of the following
EXCEPT
a. private garage rented to others
b. farm structures
c. commercial structures
d. manufacturing structures correct answers a
On Dwelling Property forms, there is no coverage for vandalism if the dwelling has been vacant
for more than
a. 10 days
b. 30 days
c. 45 days
d. 60 days correct answers d
If Coverage C, Person Property (or Contents) coverage is written on a Dwelling Form, an
Extension of Coverage may be used to provide worldwide Personal Property coverage for an
amount up to
a. 10% of the Coverage C limit
b. 25% of the Coverage C limit
c. 40% of the Coverage C limit
d. 50% of the Coverage C limit correct answers a
The Broad and Special Dwelling Forms provide two Extensions of Coverage not found on the
Basic form. What are they?
, a. Debris Removal and Worldwide Personal Property coverages
b. Removal coverage and coverage for Other Structures
c. Coverage for Other Structures and Loss of Rental Value
d. Coverages for Building Collapse and for Lawns, trees, and plants correct answers d
the clause in the dwelling policy that limits the liability of the insurer to a portion of the loss no
greater than "the amount hereby insured shall bear to the whole insurance covering the property
against the peril involved, whether collectible or not" is called the
a. appraisal clause
b. pro rata liability clause
c. cancellation clause
d. abandonment clause correct answers b
theft of built-in dwelling fixtures are covered under which dwelling form
a. basic
b. broad
c. special
d. none correct answers c
coverage B, other structures, is in addition to limits on all dwelling property policy forms
EXCEPT
a. Basic
b. Broad
c. Special
d. No exceptions correct answers a
when canceling or non-renewing a dwelling fire policy for nonpayment, an insurer must give
how many days advance notice to the insured?
a. five
b. 10
c. 20
d. 30 correct answers b
after a claim, unless the insured requests otherwise, the salvage value of the damaged property
belongs to
a. the insured
b. the mortgagee
c. the insurer
d. the fire department correct answers c
on an all-risk property policy, where would you look to determine if a loss is covered?
a. declarations
b. insuring agreement
c. conditions
d. exclusions correct answers d
all of the following are true regarding the DP-2 Broad Form policy EXCEPT
a. it is a Named Peril form
b. is is ACV on the contents
c. it contains the 80% Coinsurance clause
d. theft is a covered peril correct answers d
On the DP-1 Basic Form, all of the following are covered under the Perils of Extended Coverage
EXCEPT
a. vehicles
b. aircraft
c. vandalism
d. riot and civil commotion correct answers c
The DP-2 Broad Form automatically insures covered property against loss from any cause while
being removed from a premises endangered by a peril insured against for no more than:
a. five days
b. 30 days
c. 60 days
d. 90 days correct answers b
On a dwelling property form, coverage B, Other Structures, excludes all of the following
EXCEPT
a. private garage rented to others
b. farm structures
c. commercial structures
d. manufacturing structures correct answers a
On Dwelling Property forms, there is no coverage for vandalism if the dwelling has been vacant
for more than
a. 10 days
b. 30 days
c. 45 days
d. 60 days correct answers d
If Coverage C, Person Property (or Contents) coverage is written on a Dwelling Form, an
Extension of Coverage may be used to provide worldwide Personal Property coverage for an
amount up to
a. 10% of the Coverage C limit
b. 25% of the Coverage C limit
c. 40% of the Coverage C limit
d. 50% of the Coverage C limit correct answers a
The Broad and Special Dwelling Forms provide two Extensions of Coverage not found on the
Basic form. What are they?
, a. Debris Removal and Worldwide Personal Property coverages
b. Removal coverage and coverage for Other Structures
c. Coverage for Other Structures and Loss of Rental Value
d. Coverages for Building Collapse and for Lawns, trees, and plants correct answers d
the clause in the dwelling policy that limits the liability of the insurer to a portion of the loss no
greater than "the amount hereby insured shall bear to the whole insurance covering the property
against the peril involved, whether collectible or not" is called the
a. appraisal clause
b. pro rata liability clause
c. cancellation clause
d. abandonment clause correct answers b
theft of built-in dwelling fixtures are covered under which dwelling form
a. basic
b. broad
c. special
d. none correct answers c
coverage B, other structures, is in addition to limits on all dwelling property policy forms
EXCEPT
a. Basic
b. Broad
c. Special
d. No exceptions correct answers a
when canceling or non-renewing a dwelling fire policy for nonpayment, an insurer must give
how many days advance notice to the insured?
a. five
b. 10
c. 20
d. 30 correct answers b
after a claim, unless the insured requests otherwise, the salvage value of the damaged property
belongs to
a. the insured
b. the mortgagee
c. the insurer
d. the fire department correct answers c
on an all-risk property policy, where would you look to determine if a loss is covered?
a. declarations
b. insuring agreement
c. conditions
d. exclusions correct answers d
