Insurance Licensing Exam TX 2026
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1. Dwelling Policy A type of property insurance policy that covers residential properties.
2. Basic (DP1) A dwelling policy form that covers named perils with no minimum amount of
insurance required.
3. Broad (DP2) A dwelling policy form that covers named perils, basic perils, extended coverage
perils, V&MM, and broad form perils.
4. Special (DP3) A dwelling policy form that covers open perils, including basic perils, extended
coverage perils, and V&MM.
5. Coverage A - Defines what is included for coverage as a dwelling and must be used principally
Dwelling for dwelling or residential purposes.
6. Coverage B - Oth- Covers other separate structures at the same location, like detached garages and
er Structures other outbuildings.
7. Coverage C - Per- Can be purchased to cover personal property usual to a residence.
sonal Property
8. Coverage D - Fair Applies if property under Coverage A, B, or C becomes damaged or destroyed by
Rental Value a peril covered in the policy.
9. Coverage E - Ad- Available if broad or special form dwelling coverage is written and pays for
ditional Living Ex- increased living expenses while the premises are unfit for use.
penses
10. HO-2 Homeowners policy form that provides broad form coverage for named perils.
11. HO-3 Homeowners policy form that covers dwelling and other structures on an open
peril basis; personal property only for broad perils.
12. HO-4 Homeowners policy form for tenants that insures personal property for broad
perils.
, Insurance Licensing Exam TX 2026
Study online at https://quizlet.com/_jor55w
13. HO-5 Homeowners policy form that covers both the dwelling and other structures on
an open peril basis.
14. HO-6 Homeowners policy form for condominium unit owners that expands coverage to
include parts of the building.
15. HO-8 Homeowners policy form used when replacement cost coverage is not practical.
16. Commercial A policy that can be packaged (single contract) or monoline (separate single
Package Policy coverages).
(CPP)
17. General Liability One of the coverage parts in a Commercial Package Policy.
18. Commercial Coverage part in a Commercial Package Policy that covers business property.
Property
19. Common Policy List who, what, when, where, and how much of coverage in a policy.
Declarations
20. Cancellation First named insured may cancel the policy with written notice.
21. Concealment, Coverage will be voided if the insured committed fraud related to the policy.
Misrepresenta-
tion, or Fraud
Coverage
22. Businessowners A prepackaged policy for small to medium businesses that includes both property
Policy (BOP) and liability coverages.
23. Optional Cover- Additional coverages that can be added to a Businessowners Policy, such as
ages outdoor signs and employee dishonesty.
24.
Study online at https://quizlet.com/_jor55w
1. Dwelling Policy A type of property insurance policy that covers residential properties.
2. Basic (DP1) A dwelling policy form that covers named perils with no minimum amount of
insurance required.
3. Broad (DP2) A dwelling policy form that covers named perils, basic perils, extended coverage
perils, V&MM, and broad form perils.
4. Special (DP3) A dwelling policy form that covers open perils, including basic perils, extended
coverage perils, and V&MM.
5. Coverage A - Defines what is included for coverage as a dwelling and must be used principally
Dwelling for dwelling or residential purposes.
6. Coverage B - Oth- Covers other separate structures at the same location, like detached garages and
er Structures other outbuildings.
7. Coverage C - Per- Can be purchased to cover personal property usual to a residence.
sonal Property
8. Coverage D - Fair Applies if property under Coverage A, B, or C becomes damaged or destroyed by
Rental Value a peril covered in the policy.
9. Coverage E - Ad- Available if broad or special form dwelling coverage is written and pays for
ditional Living Ex- increased living expenses while the premises are unfit for use.
penses
10. HO-2 Homeowners policy form that provides broad form coverage for named perils.
11. HO-3 Homeowners policy form that covers dwelling and other structures on an open
peril basis; personal property only for broad perils.
12. HO-4 Homeowners policy form for tenants that insures personal property for broad
perils.
, Insurance Licensing Exam TX 2026
Study online at https://quizlet.com/_jor55w
13. HO-5 Homeowners policy form that covers both the dwelling and other structures on
an open peril basis.
14. HO-6 Homeowners policy form for condominium unit owners that expands coverage to
include parts of the building.
15. HO-8 Homeowners policy form used when replacement cost coverage is not practical.
16. Commercial A policy that can be packaged (single contract) or monoline (separate single
Package Policy coverages).
(CPP)
17. General Liability One of the coverage parts in a Commercial Package Policy.
18. Commercial Coverage part in a Commercial Package Policy that covers business property.
Property
19. Common Policy List who, what, when, where, and how much of coverage in a policy.
Declarations
20. Cancellation First named insured may cancel the policy with written notice.
21. Concealment, Coverage will be voided if the insured committed fraud related to the policy.
Misrepresenta-
tion, or Fraud
Coverage
22. Businessowners A prepackaged policy for small to medium businesses that includes both property
Policy (BOP) and liability coverages.
23. Optional Cover- Additional coverages that can be added to a Businessowners Policy, such as
ages outdoor signs and employee dishonesty.
24.
