Prep Review Exam: Types of Property Insurance Policies - Pearson Vue with correct answers 100% 2025/2026

Prep Review Exam: Types of Property Insurance Policies - Pearson Vue with correct answers 100% 2025/2026 Which of the following Dwelling Property forms insures against loss to dwelling on an open perils basis? - Correct Answer DP-3 Which of the following Dwelling Property policy forms offers the most comprehensive coverage? - Correct Answer DP-03 Which of the following perils is covered by a Dwelling Property Basic form? - Correct Answer Destruction of property caused by lightning The standard deductible of a Dwelling Policy is: - Correct Answer $500 An insured has a Basic Dwelling policy with a replacement value of $100,000. To save some money on premiums, the insured decides to insure the property for $40,000. If the insured suffers a $10,000 loss, how much with the insurer pay? - Correct Answer $5,000 Betty Lou has a DP-1 insuring her dwelling for $48,000 and the contents for $24,000. What part of the insurance may she have applied to rental value coverage? - Correct Answer 20% of the coverage of the dwelling, which is $9,600 with a monthly limit of $800 Which of the following perils is only covered on a DP-01 policy if the policyholder has purchased extended perils coverage? - Correct Answer Hail and windstorm All of the following are optional coverages under a DP-1 policy, EXCEPT: - Correct Answer fair rental value G's was drinking coffee at a local coffee shop and working on his laptop. He went back to the counter and ordered a Danish and left his computer on the ta