ILLINOIS PROPERTY EXAM QUESTIONS
AND ANSWERS WITH COMPLETE
SOLUTIONS (GRADED A+)
HO-2 Form – Answer ✔✔
A broad form homeowners insurance policy that provides coverage for the
dwelling and personal belongings against specifically listed perils
HO-3 Form – Answer ✔✔
A special form homeowners policy that covers the structure against all perils
except exclusions, while personal property is protected against named perils only
HO-4 Form – Answer ✔✔
A renters or tenants insurance policy that provides named-peril coverage for
personal belongings and liability protection
HO-5 Form – Answer ✔✔
A comprehensive homeowners insurance policy offering all-peril coverage for both
the home structure and personal belongings
HO-6 Form – Answer ✔✔
A homeowners insurance policy designed for condominium unit owners, covering
personal property and certain parts of the unit
HO-8 Form – Answer ✔✔
A modified homeowners policy that provides named-peril coverage for older
homes, including both the structure and contents
16 Named Perils -ANSWER ✔✔- Fire / Lightning
, - Windstorm / Hail
- Explosion
- Riot
- Aircraft
- Vehicles
- Smoke
- Volcanic Eruption
- Vandalism or malicious mischief
- Theft
- Falling Objects
- Weight of Ice, Snow, or Sleet
- Accidental discharge or overflow of water
- Sudden and accidental tearing apart, cracking, burning, or bulging of heating or
air condition systems (HVAC)
- Freezing
- Sudden & Accidental damage from artificially generated electrical current
Dwelling Policies -ANSWER ✔✔DP-1 (basic)
DP-2 (broad)
DP-3 (special)
DP-1 -ANSWER ✔✔"Basic Form" of Dwelling Policy. Covers direct physical loss
to property caused by only three perils: fire, lightning, and internal explosion
(coverage for other perils can be added by endorsement).
Other coverages offered for no AP:
AND ANSWERS WITH COMPLETE
SOLUTIONS (GRADED A+)
HO-2 Form – Answer ✔✔
A broad form homeowners insurance policy that provides coverage for the
dwelling and personal belongings against specifically listed perils
HO-3 Form – Answer ✔✔
A special form homeowners policy that covers the structure against all perils
except exclusions, while personal property is protected against named perils only
HO-4 Form – Answer ✔✔
A renters or tenants insurance policy that provides named-peril coverage for
personal belongings and liability protection
HO-5 Form – Answer ✔✔
A comprehensive homeowners insurance policy offering all-peril coverage for both
the home structure and personal belongings
HO-6 Form – Answer ✔✔
A homeowners insurance policy designed for condominium unit owners, covering
personal property and certain parts of the unit
HO-8 Form – Answer ✔✔
A modified homeowners policy that provides named-peril coverage for older
homes, including both the structure and contents
16 Named Perils -ANSWER ✔✔- Fire / Lightning
, - Windstorm / Hail
- Explosion
- Riot
- Aircraft
- Vehicles
- Smoke
- Volcanic Eruption
- Vandalism or malicious mischief
- Theft
- Falling Objects
- Weight of Ice, Snow, or Sleet
- Accidental discharge or overflow of water
- Sudden and accidental tearing apart, cracking, burning, or bulging of heating or
air condition systems (HVAC)
- Freezing
- Sudden & Accidental damage from artificially generated electrical current
Dwelling Policies -ANSWER ✔✔DP-1 (basic)
DP-2 (broad)
DP-3 (special)
DP-1 -ANSWER ✔✔"Basic Form" of Dwelling Policy. Covers direct physical loss
to property caused by only three perils: fire, lightning, and internal explosion
(coverage for other perils can be added by endorsement).
Other coverages offered for no AP:
