PERSONAL LINES FINAL
EXAM QUESTIONS WITH
100% CORRECT
ANSWERS.
Which coverage in a HO-3 policy applies on an open-peril basis to the dwelling?
A. Coverage B
B. Coverage C
C. Coverage A
D. Coverage D
Answer: C
Personal property in a HO-3 policy is covered against which perils?
A. Open perils
B. Named perils
C. Excluded perils only
D. Earth movement only
Answer: B
Which loss settlement applies to personal property unless endorsed otherwise?
A. Replacement cost
B. Actual cash value
C. Market value
D. Stated amount
Answer: B
,Which coverage pays for additional living expenses after a covered loss?
A. Coverage A
B. Coverage B
C. Coverage C
D. Coverage D
Answer: D
Which HO form is designed for renters?
A. HO-3
B. HO-4
C. HO-5
D. HO-6
Answer: B
Which policy is designed for condominium unit owners?
A. HO-2
B. HO-3
C. HO-6
D. HO-8
Answer: C
Which peril is excluded under standard homeowners policies?
A. Fire
B. Windstorm
C. Theft
D. Flood
Answer: D
Flood insurance is primarily written through which program?
A. FAIR Plan
B. NFIP
,C. Surplus Lines
D. State Guaranty Fund
Answer: B
What deductible applies to most flood insurance claims?
A. Percentage deductible
B. Mandatory deductible
C. Separate building and contents deductibles
D. No deductible
Answer: C
Which endorsement schedules high-value personal property?
A. Additional insured
B. Personal articles floater
C. Inflation guard
D. Earthquake
Answer: B
Which HO form provides open-peril coverage on both dwelling and personal
property?
A. HO-2
B. HO-3
C. HO-5
D. HO-8
Answer: C
Which coverage protects against lawsuits for bodily injury or property damage?
A. Coverage A
B. Coverage C
C. Coverage D
D. Coverage E
Answer: D
, Medical payments coverage applies regardless of what?
A. Policy limits
B. Deductible
C. Negligence
D. Location
Answer: C
Which limit typically applies to jewelry theft in a HO policy?
A. $500
B. $1,500
C. $2,500
D. $5,000
Answer: C
What is subrogation?
A. Payment of claims without proof
B. Transfer of rights to the insurer
C. Waiver of deductible
D. Replacement cost valuation
Answer: B
Which auto coverage pays for damage to your car from collision with another
vehicle?
A. Comprehensive
B. Liability
C. Collision
D. Medical payments
Answer: C
Which auto coverage pays for theft, vandalism, or hail?
A. Collision
EXAM QUESTIONS WITH
100% CORRECT
ANSWERS.
Which coverage in a HO-3 policy applies on an open-peril basis to the dwelling?
A. Coverage B
B. Coverage C
C. Coverage A
D. Coverage D
Answer: C
Personal property in a HO-3 policy is covered against which perils?
A. Open perils
B. Named perils
C. Excluded perils only
D. Earth movement only
Answer: B
Which loss settlement applies to personal property unless endorsed otherwise?
A. Replacement cost
B. Actual cash value
C. Market value
D. Stated amount
Answer: B
,Which coverage pays for additional living expenses after a covered loss?
A. Coverage A
B. Coverage B
C. Coverage C
D. Coverage D
Answer: D
Which HO form is designed for renters?
A. HO-3
B. HO-4
C. HO-5
D. HO-6
Answer: B
Which policy is designed for condominium unit owners?
A. HO-2
B. HO-3
C. HO-6
D. HO-8
Answer: C
Which peril is excluded under standard homeowners policies?
A. Fire
B. Windstorm
C. Theft
D. Flood
Answer: D
Flood insurance is primarily written through which program?
A. FAIR Plan
B. NFIP
,C. Surplus Lines
D. State Guaranty Fund
Answer: B
What deductible applies to most flood insurance claims?
A. Percentage deductible
B. Mandatory deductible
C. Separate building and contents deductibles
D. No deductible
Answer: C
Which endorsement schedules high-value personal property?
A. Additional insured
B. Personal articles floater
C. Inflation guard
D. Earthquake
Answer: B
Which HO form provides open-peril coverage on both dwelling and personal
property?
A. HO-2
B. HO-3
C. HO-5
D. HO-8
Answer: C
Which coverage protects against lawsuits for bodily injury or property damage?
A. Coverage A
B. Coverage C
C. Coverage D
D. Coverage E
Answer: D
, Medical payments coverage applies regardless of what?
A. Policy limits
B. Deductible
C. Negligence
D. Location
Answer: C
Which limit typically applies to jewelry theft in a HO policy?
A. $500
B. $1,500
C. $2,500
D. $5,000
Answer: C
What is subrogation?
A. Payment of claims without proof
B. Transfer of rights to the insurer
C. Waiver of deductible
D. Replacement cost valuation
Answer: B
Which auto coverage pays for damage to your car from collision with another
vehicle?
A. Comprehensive
B. Liability
C. Collision
D. Medical payments
Answer: C
Which auto coverage pays for theft, vandalism, or hail?
A. Collision
