Ch. 5 - Dwelling Policy Exam Questions and Answers Already Passed Graded A+

Ch. 5 - Dwelling Policy Exam Questions and Answers Already Passed Graded A+ provides property insurance to residential dwellings that may not be eligible for a homeowners policy due to age, value, or location - Answers dwelling program dwellings that may be insured under the dwelling program may be owner-occupied or tenant-occupied, but they must be used principally for residential purposes, with up to __________ dwelling units and no more than __________ roomers or boarders - Answers 4; 5 mobile homes are eligible for coverage only under the basic form and only if they meet certain qualifications, such as being __________ - Answers permanently affixed to a foundation __________ dwellings are not eligible - Answers farm coverage __________ of the dwelling program applies to the residential dwelling described in the declarations, including structures attached to the dwelling, such as an attached garage, carport, breezeway, or deck - Answers A coverage __________ of the dwelling program applies to appurtenant structures, which are structures other than the dwelling that are on the described location and detached from the dwelling by a clear space - includes structures connected to the dwelling only by a fence, utility line, or similar connection - Answers B the limit of liability applicable to other structures under coverage b is an amount equal to __________ of the coverage a limit - Answers 10% coverage __________ of the dwelling program applies to household and personal property (sometimes called contents) usual to the occupancy of a dwelling - Answers C coverage __________ of the dwelling program applies when a portion of the described location is rented to others, and it provides insurance for indirect losses that occur as a result of covered direct losses to property insured under coverages a, b, or c - Answers D coverage __________ of the dwelling program provides insurance for indirect losses that occur as a result of covered direct losses to property insured under coverages a, b, or c; pays any necessary increases in living expenses incurred by the named insured when a covered loss makes the unit in which the named insured lives uninhabitable - Answers E provides basic insurance coverage to insure the dwelling, its contents, and other structures on the premises against three named perils: fire, lightning, and internal explosion - Answers DP-1 (basic form) may be added onto DP-1 for an additional premium, which would cover losses resulting from the following perils: windstorm and hail, aircraft, riot or civil commotion, vehicles (such as losses caused by a vehicle driving into the dwelling), volcanic eruption, explosion, and smoke - Answers extended coverage (EC) may be added onto DP-1 for an additional premium, which would exclude losses for vandalism occurring after 60 consecutive days of vacancy and losses by theft, larceny (theft of personal property), burglary, or pilferage - Answers vandalism or malicious mischief (VMM) under DP-1 (basic form) coverage applies to Coverages A, B, and C, and all losses are paid on an __________ basis - Answers actual cash value on the DP-1, the limit for fair rental value coverage is __________ of the Coverage A limit - Answers 20% insures against named perils that include the Basic Form's base perils, EC and VMM perils, and certain other perils. These other perils include: property damage by burglars, falling objects, the weight of snow, accidental overflow of water from certain systems or appliances, accidental cracking of those systems and appliances, and accidental damage from electrical currents - Answers DP-2 (broad form) provides coverage on an open perils basis, which includes all of the Broad Form's covered perils and any other peril that is not specifically excluded. Exclusions include: wind damage to outdoor TV antennas, deterioration, smog and rust, pollutants, smoke from agricultural smudging or industrial operations, and cracking of foundations - Answers DP-3 (special form) under DP-2 (broad form) and DP-3 (special form), losses under Coverages A and B are settled on a __________ basis, and losses under Coverage C are settled on an __________ basis - Answers replacement cost; actual cash value on the DP-2 and DP-3, the limit for fair rental value and additional living expenses coverages is __________ of the Coverage A limit - Answers 20% under DP-3 (special form), personal property is insured against __________ - Answers named perils pays for the insured's reasonable expenses for the removal of debris of covered property if the