2024 TEXAS PROPERTY & CASUALTY INSURANCE,
INSURANCE 4 LATEST VERSIONS| 480+QUESTIONS WITH
CORRECT VERIFIED ANSWER GRADED A+ (100%
ACCURATE ANSWERS)
The insured is looking for the amount of coverage in a property and
casualty policy. This information would be found in the ______. - correct
answer✔✔declarations
The coverages offered by an insurance policy are described in the ____. -
correct answer✔✔insuring agreement
The purpose of the conditions section of an insurance policy is to list the
____ of the insured and the insurance company. - correct
answer✔✔obligations
The list of perils covered under a policy is found in which part of the policy?
- correct answer✔✔Insuring agreement
The Declarations page consists of 5 P's. Person or property, policy
number, policy term, policy limit and ____. - correct answer✔✔premium
The Insuring agreement describes coverage provided and which ____ are
covered. - correct answer✔✔perils
Lost rent is covered by _____. Limited by 20% of coverage A. - correct
answer✔✔Coverage D
,Which part of an insurance policy describes the responsibilities and
obligations of both the insurance company and the insured under the
policy? - correct answer✔✔Conditions
The limits of liability are found in which of the following sections of a
casualty policy? - correct answer✔✔Declarations
The _____ page in an insurance contract contains information about the
risk, the effective date of coverage, deductible, premium amounts,
coinsurance percentage, and location of the insured property. - correct
answer✔✔Declarations
Under which of the dwelling forms may the insured be reimbursed for the
replacement cost of a dwelling when it is destroyed? - correct
answer✔✔DP-2 and DP-3
The insured has a DP-3 covering a home that has a replacement value of
$100,000. The insured carries $60,000 of insurance. Following a loss, it is
determined that it would cost $12,000 to replace the damaged portion of
the home. How much could the insured collect, assuming the ACV of the
loss is $6,000? - correct answer✔✔$9000
Damage to covered property caused by glass breakage is covered in ___. -
correct answer✔✔DP2 and DP3
Which dwelling forms pay losses to dwellings and other structures on an
actual cash value basis? - correct answer✔✔DP1
,Which dwelling forms pay losses to personal property on an actual cash
value basis? - correct answer✔✔DP1, DP2 and DP3
Would an earthquake that causes a fire that destroys an insured's home be
covered by a DP1? - correct answer✔✔yes
A dwelling policy with no endorsements attached contains personal
property coverage, dwelling coverage and _____. - correct
answer✔✔medical payments coverage
An unendorsed dwelling policy contains the dwelling, other structures,
personal property, and _____. - correct answer✔✔fair rental value
Other coverage included in all dwelling forms are fire department service
charges, debris removal, reasonable repairs, and _____ limited to 10% of
coverage C. - correct answer✔✔glass safety material
Does the DP1 provides coverage for appurtenant structures? - correct
answer✔✔yes
_____ coverage must be added to a dwelling policy by endorsement. -
correct answer✔✔Theft and liability
An insured has a $60,000 special form (DP-3). When a covered loss in the
amount of $10,000 damages the attached garage, how much of that
amount is paid under the Coverage B-Other Structures? - correct
answer✔✔$0
, Of the dwelling forms, which one of the following provides the broadest
coverage? - correct answer✔✔special
The special form (DP-3) covers the dwelling and other structures for ____. -
correct answer✔✔open perils
In the dwelling forms, damage from vandalism is not covered if the building
has been vacant for more than ____. - correct answer✔✔60 days
A property owner wants to insure both the rental property and any of the
tenant's belongings if they are stolen. Which policy would you recommend
and why? - correct answer✔✔DP-3 special form and a separate tenant's
policy to cover personal property.
The dwelling policy will provide how much additional coverage for a fire
department service charge? - correct answer✔✔$500
An insured suffers a covered loss to some rental property that forces the
tenant to move to another location. Under which section of the dwelling
policy would the insured receive payment during the time the property is
being repaired? - correct answer✔✔Coverage D--Fair Rental Value
How does the dwelling policy provide theft coverage, dwelling under
construction coverage or coverage for automatic increases in insurance? -
correct answer✔✔by endorsement
An insured has an $80,000 dwelling policy with a $500 deductible. In
addition to the house, the property includes a detached garage, storage
shed, and an artist's studio. During a thunderstorm, the garage and storage
INSURANCE 4 LATEST VERSIONS| 480+QUESTIONS WITH
CORRECT VERIFIED ANSWER GRADED A+ (100%
ACCURATE ANSWERS)
The insured is looking for the amount of coverage in a property and
casualty policy. This information would be found in the ______. - correct
answer✔✔declarations
The coverages offered by an insurance policy are described in the ____. -
correct answer✔✔insuring agreement
The purpose of the conditions section of an insurance policy is to list the
____ of the insured and the insurance company. - correct
answer✔✔obligations
The list of perils covered under a policy is found in which part of the policy?
- correct answer✔✔Insuring agreement
The Declarations page consists of 5 P's. Person or property, policy
number, policy term, policy limit and ____. - correct answer✔✔premium
The Insuring agreement describes coverage provided and which ____ are
covered. - correct answer✔✔perils
Lost rent is covered by _____. Limited by 20% of coverage A. - correct
answer✔✔Coverage D
,Which part of an insurance policy describes the responsibilities and
obligations of both the insurance company and the insured under the
policy? - correct answer✔✔Conditions
The limits of liability are found in which of the following sections of a
casualty policy? - correct answer✔✔Declarations
The _____ page in an insurance contract contains information about the
risk, the effective date of coverage, deductible, premium amounts,
coinsurance percentage, and location of the insured property. - correct
answer✔✔Declarations
Under which of the dwelling forms may the insured be reimbursed for the
replacement cost of a dwelling when it is destroyed? - correct
answer✔✔DP-2 and DP-3
The insured has a DP-3 covering a home that has a replacement value of
$100,000. The insured carries $60,000 of insurance. Following a loss, it is
determined that it would cost $12,000 to replace the damaged portion of
the home. How much could the insured collect, assuming the ACV of the
loss is $6,000? - correct answer✔✔$9000
Damage to covered property caused by glass breakage is covered in ___. -
correct answer✔✔DP2 and DP3
Which dwelling forms pay losses to dwellings and other structures on an
actual cash value basis? - correct answer✔✔DP1
,Which dwelling forms pay losses to personal property on an actual cash
value basis? - correct answer✔✔DP1, DP2 and DP3
Would an earthquake that causes a fire that destroys an insured's home be
covered by a DP1? - correct answer✔✔yes
A dwelling policy with no endorsements attached contains personal
property coverage, dwelling coverage and _____. - correct
answer✔✔medical payments coverage
An unendorsed dwelling policy contains the dwelling, other structures,
personal property, and _____. - correct answer✔✔fair rental value
Other coverage included in all dwelling forms are fire department service
charges, debris removal, reasonable repairs, and _____ limited to 10% of
coverage C. - correct answer✔✔glass safety material
Does the DP1 provides coverage for appurtenant structures? - correct
answer✔✔yes
_____ coverage must be added to a dwelling policy by endorsement. -
correct answer✔✔Theft and liability
An insured has a $60,000 special form (DP-3). When a covered loss in the
amount of $10,000 damages the attached garage, how much of that
amount is paid under the Coverage B-Other Structures? - correct
answer✔✔$0
, Of the dwelling forms, which one of the following provides the broadest
coverage? - correct answer✔✔special
The special form (DP-3) covers the dwelling and other structures for ____. -
correct answer✔✔open perils
In the dwelling forms, damage from vandalism is not covered if the building
has been vacant for more than ____. - correct answer✔✔60 days
A property owner wants to insure both the rental property and any of the
tenant's belongings if they are stolen. Which policy would you recommend
and why? - correct answer✔✔DP-3 special form and a separate tenant's
policy to cover personal property.
The dwelling policy will provide how much additional coverage for a fire
department service charge? - correct answer✔✔$500
An insured suffers a covered loss to some rental property that forces the
tenant to move to another location. Under which section of the dwelling
policy would the insured receive payment during the time the property is
being repaired? - correct answer✔✔Coverage D--Fair Rental Value
How does the dwelling policy provide theft coverage, dwelling under
construction coverage or coverage for automatic increases in insurance? -
correct answer✔✔by endorsement
An insured has an $80,000 dwelling policy with a $500 deductible. In
addition to the house, the property includes a detached garage, storage
shed, and an artist's studio. During a thunderstorm, the garage and storage
