MI Property & Casualty Exam - Dwelling Policy ||
QUESTIONS WITH CERTIFIED ANSWERS!!
True/False: The dwelling policy was developed by the ISO and can insure the dwelling only.
correct answers False; It can also cover the contents of a dwelling only, or both the dwelling
and its contents.
Coverage Form DP1 - Basic Dwelling is ____ peril coverage. correct answers Named
Losses under DP1 are paid on a ___ ___ ___ basis. correct answers Actual Cash Value.
Name the perils covered by the basic DP1 form. correct answers Fire, Lightning, Internal
Explosion
What are the extended coverages that can be added to the Baisc form by endorsement?
(WHARVES / W.C. SHAVER) correct answers Windstorms or Hail, Aircraft & vehicles,
Riot or civil commotion, Vandalism volcanos, Explosion, Smoke
Coverage form DP2 - Broad Form Dwelling is ____ peril coverage. correct answers Named
Losses under DP2 are paid on a ____ ____ basis. correct answers Replacement Cost
Coinsurance on DP2 must be maintained at ___. correct answers 80%
DP2 includes all basic common perils and adds 7 broad common perils; name the new 7.
(B.B. BICE GOLF) correct answers 1. Burglary Damage
2. Falling Objects
3. Weight of ice, snow or sleet
4. Tearing apart, cracking, burning or bulging of appliances
5. Accidental discharge or overflow of water or steam
6. Freezing of plumbing
7. Elecrical (artificially generated)
DP2 also covers L___, B____, and C____. correct answers Lawns, trees, shrubs and plants;
Breakage of glass; Collapse
Coverage form DP3 - Special Dwelling is ____ peril coverage. correct answers Open
Losses under DP3 are paid on a ____ ____ basis. correct answers Replacement Cost
What does Dwelling Coverage A cover? correct answers The Dwelling: The building and all
attached structures..
What does Dwelling Coverage B cover? correct answers Other Structures: Structures not
attached to the dwelling.
What does Dwelling Coverage C cover? correct answers Personal Property of insured, family
members or guests.
QUESTIONS WITH CERTIFIED ANSWERS!!
True/False: The dwelling policy was developed by the ISO and can insure the dwelling only.
correct answers False; It can also cover the contents of a dwelling only, or both the dwelling
and its contents.
Coverage Form DP1 - Basic Dwelling is ____ peril coverage. correct answers Named
Losses under DP1 are paid on a ___ ___ ___ basis. correct answers Actual Cash Value.
Name the perils covered by the basic DP1 form. correct answers Fire, Lightning, Internal
Explosion
What are the extended coverages that can be added to the Baisc form by endorsement?
(WHARVES / W.C. SHAVER) correct answers Windstorms or Hail, Aircraft & vehicles,
Riot or civil commotion, Vandalism volcanos, Explosion, Smoke
Coverage form DP2 - Broad Form Dwelling is ____ peril coverage. correct answers Named
Losses under DP2 are paid on a ____ ____ basis. correct answers Replacement Cost
Coinsurance on DP2 must be maintained at ___. correct answers 80%
DP2 includes all basic common perils and adds 7 broad common perils; name the new 7.
(B.B. BICE GOLF) correct answers 1. Burglary Damage
2. Falling Objects
3. Weight of ice, snow or sleet
4. Tearing apart, cracking, burning or bulging of appliances
5. Accidental discharge or overflow of water or steam
6. Freezing of plumbing
7. Elecrical (artificially generated)
DP2 also covers L___, B____, and C____. correct answers Lawns, trees, shrubs and plants;
Breakage of glass; Collapse
Coverage form DP3 - Special Dwelling is ____ peril coverage. correct answers Open
Losses under DP3 are paid on a ____ ____ basis. correct answers Replacement Cost
What does Dwelling Coverage A cover? correct answers The Dwelling: The building and all
attached structures..
What does Dwelling Coverage B cover? correct answers Other Structures: Structures not
attached to the dwelling.
What does Dwelling Coverage C cover? correct answers Personal Property of insured, family
members or guests.
