CISR Personal Residential Property Questions with Correct Answers 2025

CISR Personal Residential Property Questions
with Correct Answers 2025
ActualGCashGValueG-GCORRECTGANSWERG-
property'sGreplacementGcostGvalueGlessGdepreciationGaccordingGtoGtheGageGofGtheGpropertyGorGres
ultsGinGaGreductionGinGvalueGforGnormalGwearGandGtearGofGtheGpropertyGjustGpriorGtoGtheGloss



BeneficiaryG-GCORRECTGANSWERG-aGpartyGthatGreceivesGaGtrust'sGassetsGwhenGaGtrustorGdies



Boarders/RoomersG-GCORRECTGANSWERG-
individualsGwhoGrentGroomsGinGaGdwellingGoccupiedGbyGotherGboardersGand/orGtheGdwelling'sGow
ner;GinhabitantsGshareGcommonGspacesGandGkitchenGfacilities



ConditionalGContractG-GCORRECTGANSWERG-
theGinsuredGmustGabideGbyGtheGtermsGofGtheGpolicyGforGtheGpolicyGcontractGtoGbeGenforceable



ConditionsG-GCORRECTGANSWERG-
obligationsGrequiredGofGanGinsuredGandGinsuranceGcompanyGtoGcarryGoutGotherGpolicyGprovisions



Co-OwnershipG-GCORRECTGANSWERG-dwellingsGownedGbyGtwoGindividuals



DeclarationsGPageG-GCORRECTGANSWERG-
theGpartGofGaGpolicyGthatGidentifiesGtheGnamedGinsured,GandGincludesGanGaddress,GtheGpolicyGperio
d,GtheGinsuredGlocation,GpolicyGlimits,GandGanyGotherGkeyGinformationGpeculiarGtoGtheGinsured



DwellingG-GCORRECTGANSWERG-
aGhouse'sGstructureGandGthingsGsuchGasGgarages,Gdecks,GorGporchesGattachedGtoGthatGstructure



DwellingGunderGConstructionG-GCORRECTGANSWERG-dwellingsGinGtheGcourseGofGconstruction

,EndorsementG-GCORRECTGANSWERG-
amendmentGorGadditionGtoGlanguageGinGaGpolicyGcontractGthatGaffectsGcoverage



ExclusionsG-GCORRECTGANSWERG-provisionsGthatGeliminateGcoverageGforGsomeGtypeGofGrisk



GrantorG-GCORRECTGANSWERG-anGindividualGwhoGestablishesGaGtrust



ISOG-GCORRECTGANSWERG-InsuranceGServicesGOffice



IncidentalGOccupancyG-GCORRECTGANSWERG-aGbusinessGoperatingGwithinGaGdwelling



LifeGEstateG-GCORRECTGANSWERG-
ownershipGarrangementGthatGsplitsGownershipGbetweenGtheGgiverGandGreceiver



Long-TermGPurchase/ContractGofGSaleG-GCORRECTGANSWERG-
ownershipGarrangementGwhenGtheGtitleGofGtheGpropertyGdoesGnotGpassGfromGtheGsellerGuntilGallGth
eGtermsGofGtheGinstallmentGcontractGhaveGbeenGsatisfied;GaG"lease-to-own"GtypeGagreement



NamedGPerilsG-GCORRECTGANSWERG-coverageGonlyGforGperilsGlistedGinGaGpolicy



OpenGPerilsG-GCORRECTGANSWERG-
coverageGforGanyGreasonGnotGspecificallyGexcludedGfromGaGpolicy



PerilG-GCORRECTGANSWERG-
anGeventGthatGcausesGorGhasGtheGpotentialGtoGcauseGdamageGorGloss,GsuchGasGaGfireGorGfallingGobje
ct

, P.I.N.E.SG-GCORRECTGANSWERG-
acronymGusedGtoGdescribeGtheGkeyGconditionsGofGdutiesGafterGloss:GProtect,GInventory,GNotify,GExh
ibit,GSubmit



ReplacementGCostG-GCORRECTGANSWERG-
costGtoGreplaceGdamagedGpropertyGwithGlikeGkindGandGqualityGatGtoday'sGvalue



SeasonalGDwellingG-GCORRECTGANSWERG-
dwellingGwithGcontinuousGunoccupancyGofGthreeGorGmoreGconsecutiveGmonthsGduringGanyGone-
yearGperiod



SettlorG-GCORRECTGANSWERG-anGindividualGwhoGestablishesGaGtrust



TangibleG-GCORRECTGANSWERG-
real,GphysicalGpropertyGthatGyouGcanGtouch,GorGpropertyGisGphysicallyGpresentGandGisGmadeGofGphy
sicalGmaterials



TrustG-GCORRECTGANSWERG-
aGrelationshipGinGwhichGoneGpartyGholdsGpropertyGforGtheGbenefitGofGanotherGparty



TrusteeG-GCORRECTGANSWERG-
anGindividualGwhoGmanagesGaGtrust;GoftenGanGattorneyGorGaccountant



TrustorG-GCORRECTGANSWERG-
anGindividualGwhoGestablishesGaGtrust;Gtrustor,Gsettlor,Gcreator,GorGgrantor



LiberalizationGClauseG-GCORRECTGANSWERG-
IfGtheGcarrierGmakesGaGchange,GduringGtheGpolicyGperiodGorGwithinG60GdaysGpriorGtoGtheGpolicy,Gwh
ichGbroadensGcoverage,GandGdoesGnotGchargeGpremium,GtheGchangeGwillGbeGappliedGonGtheGdama
geGitGisGimplementedGinGtheGpolicy'sGstate