Comprehensive CISR Personal
Residential Property Practice Exam –
100 Questions & Answers Covering
Four Core Domains (2026/2027) 100%
correct
Q1: Actual Cash Value (ACV) is best defined as:
A. The original purchase price of the property
B. Replacement cost minus depreciation
C. Market value of the property
D. The assessed value for tax purposes
Answer: B. Replacement cost minus depreciation
Q2: Replacement cost provides for the repair or replacement of
damaged property:
A. With materials of like kind and quality without deduction for depreciation
B. At the original purchase price
C. At current market value
D. With a deduction for wear and tear
Answer: A. Replacement cost provides for repair or replacement with material of like
kind and quality without a deduction for depreciation
,Q3: A "beneficiary" in the context of insurance is:
A. The person who pays the premium
B. A party that receives a trust's assets when a trustor dies
C. The insurance company
D. The policyholder's spouse
Answer: B. A party that receives a trust's assets when a trustor dies
Q4: "Boarders/Roomers" are defined as:
A. Family members living in the household
B. Individuals who rent rooms in a dwelling occupied by other boarders and/or the
dwelling's owner
C. Temporary guests staying for less than 30 days
D. Employees of the insured
Answer: B. Individuals who rent rooms in a dwelling occupied by other boarders
and/or the dwelling's owner
Q5: A "conditional contract" in insurance means:
A. The insurer must pay all claims regardless of circumstances
B. The insured must abide by the terms of the policy for the policy contract to be
enforceable
C. The policy can be cancelled at any time
D. Coverage is guaranteed for the full policy period
Answer: B. The insured must abide by the terms of the policy for the policy contract
to be enforceable
,Q6: The "Declarations Page" of an insurance policy:
A. Lists all policy exclusions
B. Identifies the named insured, address, policy period, insured location, policy limits,
and other key information
C. Contains only the definitions section
D. Is the same as the conditions section
Answer: B. The Declarations Page identifies the named insured, address, policy
period, insured location, policy limits, and other key information peculiar to the
insured
Q7: A "dwelling" is defined as:
A. Only the interior living space of a house
B. A house's structure and things such as garages, decks, or porches attached to that
structure
C. Any building used for business purposes
D. Land only, without any structures
Answer: B. A house's structure and things such as garages, decks, or porches
attached to that structure
Q8: An "endorsement" is:
A. The main body of the insurance policy
B. An amendment or addition to language in a policy contract that affects coverage
, C. A type of claim form
D. The premium payment receipt
Answer: B. An amendment or addition to language in a policy contract that affects
coverage
Q9: "Exclusions" in an insurance policy are:
A. Provisions that eliminate coverage for some type of risk
B. Additional coverages provided at no extra cost
C. The policy limits
D. The premium calculation method
Answer: A. Provisions that eliminate coverage for some type of risk
Q10: A "grantor" is:
A. The insurance company
B. An individual who establishes a trust
C. The policy beneficiary
D. A type of insurance adjuster
Answer: B. An individual who establishes a trust
Q11: "ISO" stands for:
A. International Standards Organization
B. Insurance Services Office
Residential Property Practice Exam –
100 Questions & Answers Covering
Four Core Domains (2026/2027) 100%
correct
Q1: Actual Cash Value (ACV) is best defined as:
A. The original purchase price of the property
B. Replacement cost minus depreciation
C. Market value of the property
D. The assessed value for tax purposes
Answer: B. Replacement cost minus depreciation
Q2: Replacement cost provides for the repair or replacement of
damaged property:
A. With materials of like kind and quality without deduction for depreciation
B. At the original purchase price
C. At current market value
D. With a deduction for wear and tear
Answer: A. Replacement cost provides for repair or replacement with material of like
kind and quality without a deduction for depreciation
,Q3: A "beneficiary" in the context of insurance is:
A. The person who pays the premium
B. A party that receives a trust's assets when a trustor dies
C. The insurance company
D. The policyholder's spouse
Answer: B. A party that receives a trust's assets when a trustor dies
Q4: "Boarders/Roomers" are defined as:
A. Family members living in the household
B. Individuals who rent rooms in a dwelling occupied by other boarders and/or the
dwelling's owner
C. Temporary guests staying for less than 30 days
D. Employees of the insured
Answer: B. Individuals who rent rooms in a dwelling occupied by other boarders
and/or the dwelling's owner
Q5: A "conditional contract" in insurance means:
A. The insurer must pay all claims regardless of circumstances
B. The insured must abide by the terms of the policy for the policy contract to be
enforceable
C. The policy can be cancelled at any time
D. Coverage is guaranteed for the full policy period
Answer: B. The insured must abide by the terms of the policy for the policy contract
to be enforceable
,Q6: The "Declarations Page" of an insurance policy:
A. Lists all policy exclusions
B. Identifies the named insured, address, policy period, insured location, policy limits,
and other key information
C. Contains only the definitions section
D. Is the same as the conditions section
Answer: B. The Declarations Page identifies the named insured, address, policy
period, insured location, policy limits, and other key information peculiar to the
insured
Q7: A "dwelling" is defined as:
A. Only the interior living space of a house
B. A house's structure and things such as garages, decks, or porches attached to that
structure
C. Any building used for business purposes
D. Land only, without any structures
Answer: B. A house's structure and things such as garages, decks, or porches
attached to that structure
Q8: An "endorsement" is:
A. The main body of the insurance policy
B. An amendment or addition to language in a policy contract that affects coverage
, C. A type of claim form
D. The premium payment receipt
Answer: B. An amendment or addition to language in a policy contract that affects
coverage
Q9: "Exclusions" in an insurance policy are:
A. Provisions that eliminate coverage for some type of risk
B. Additional coverages provided at no extra cost
C. The policy limits
D. The premium calculation method
Answer: A. Provisions that eliminate coverage for some type of risk
Q10: A "grantor" is:
A. The insurance company
B. An individual who establishes a trust
C. The policy beneficiary
D. A type of insurance adjuster
Answer: B. An individual who establishes a trust
Q11: "ISO" stands for:
A. International Standards Organization
B. Insurance Services Office
