RMI 3011 FSU EXAM 3-STITH Question
and answers verified to pass
Homeowners Insurance - correct answer ✔-Forms, drafted by ISO are widely
used in United States
Insurance Services Office (ISO) - correct answer ✔-Designed for the owner-
occupants of family dwellings
-A policy can be used to cover the dwelling, other structures, personal
property, additional living expenses, personal liability claims, and medical
payments
-Six form are available
HO-2 (Broad Form) - correct answer ✔-Covers dwelling, other structures,
and personal property on named peril basis
HO-3 (Special Form) - correct answer ✔-Covers dwelling and other
structures on a risk of direct physical loss basis (all covered except for those
specifically excluded)
HO-4 (Contents Broad Form) - correct answer ✔-Covers a tenant's personal
property on a named perils basis
HO-5 (Comprehensive Form) - correct answer ✔-Provides open perils on the
dwelling, other structures and personal property (Except for those specifically
excluded
HO-6 (Unit Owners Form) - correct answer ✔-Covers property on a named
perils basis
, (Minimum of $5k of insurance is also provided on the condominium unit that
covers improvements and additions)
HO-8 (Modified Coverage Form) - correct answer ✔-Designed for older
homes
-(Dwelling and other structures are based on the amount required to repair or
replace using common construction materials and methods)
Insureds of HO-3 Policy - correct answer ✔-Named insured and spouse
-Resident relatives
-Other persons under age 21
-Full-time student away from home
Section II HO-3 Policy - correct answer ✔-Any person legally responsible for
covered animals or watercraft
-With respect to a motor vehicle covered by the policy, persons employed by
the named insured
Section I Coverages (Coverage A) - correct answer ✔-Covers the dwelling
on the residence premises and any structure attached to the dwelling
-(materials intended for construction are included)
-(The coverage specifically excludes land)
Section I Coverages (Coverage B) - correct answer ✔-Insures other
structures on the residence premises
-(Detached garage, tool shed, etc)
-(Structures that are rented out or used for a business are excluded)
-The amount of coverage is based on the amount of insurance in Coverage A)
and answers verified to pass
Homeowners Insurance - correct answer ✔-Forms, drafted by ISO are widely
used in United States
Insurance Services Office (ISO) - correct answer ✔-Designed for the owner-
occupants of family dwellings
-A policy can be used to cover the dwelling, other structures, personal
property, additional living expenses, personal liability claims, and medical
payments
-Six form are available
HO-2 (Broad Form) - correct answer ✔-Covers dwelling, other structures,
and personal property on named peril basis
HO-3 (Special Form) - correct answer ✔-Covers dwelling and other
structures on a risk of direct physical loss basis (all covered except for those
specifically excluded)
HO-4 (Contents Broad Form) - correct answer ✔-Covers a tenant's personal
property on a named perils basis
HO-5 (Comprehensive Form) - correct answer ✔-Provides open perils on the
dwelling, other structures and personal property (Except for those specifically
excluded
HO-6 (Unit Owners Form) - correct answer ✔-Covers property on a named
perils basis
, (Minimum of $5k of insurance is also provided on the condominium unit that
covers improvements and additions)
HO-8 (Modified Coverage Form) - correct answer ✔-Designed for older
homes
-(Dwelling and other structures are based on the amount required to repair or
replace using common construction materials and methods)
Insureds of HO-3 Policy - correct answer ✔-Named insured and spouse
-Resident relatives
-Other persons under age 21
-Full-time student away from home
Section II HO-3 Policy - correct answer ✔-Any person legally responsible for
covered animals or watercraft
-With respect to a motor vehicle covered by the policy, persons employed by
the named insured
Section I Coverages (Coverage A) - correct answer ✔-Covers the dwelling
on the residence premises and any structure attached to the dwelling
-(materials intended for construction are included)
-(The coverage specifically excludes land)
Section I Coverages (Coverage B) - correct answer ✔-Insures other
structures on the residence premises
-(Detached garage, tool shed, etc)
-(Structures that are rented out or used for a business are excluded)
-The amount of coverage is based on the amount of insurance in Coverage A)
