Section 4 Dwelling Policy Practice Questions and Answers Already Passed

Section 4 Dwelling Policy Practice Questions and Answers Already Passed 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 - 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 - 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 - 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 - 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 - 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 - 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 - 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 - Answers b theft of built-in dwelling fixtures are covered under which dwelling form a. basic b. broad c. special d. none - 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 - 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?