IDAHO PROPERTY AND CASUALTY INSURANCE
Exam Review Questions With 100% Correct Answers
(Verified) Latest Update Grade A+
1. What type of information would be found in a
policy's insuring agreement?
Policy limits
Insurer's address
Renewal dates
Location of premises
ANS Renewal Dates
2. Which of the following is true of dwelling policy coverage?
Exclusions only apply to broad policy forms.
There are no exclusions in basic forms.
Special forms only have special exclusions.
Exclusions apply to all three policy forms.
ANS Exclusions apply to all three policy forms
,3. All of the following are considered parts of the policy structure EXCEPT
Insuring clause.
Conditions.
Provisions. Exclusions.
ANS Provisions
4. First aid costs for others injured on the insured's premises
Apply only if the insured is legally liable.
Also cover injuries to the insured's family members. Are
deducted from the liability limit.
Are paid in addition to the liability limit.
ANS Are paid in addition to the liability limit.
5. Which of the following risks is eligible for coverage under a businessowners
policy?
a) Banks
b)Automobile dealers
c) Bars or taverns
d)Condominiums
,ANS Condominiums
6. An insured has a homeowners policy and is required to be a member of the
homeowners association in her neighborhood. The association's community
house has burned down, and the insured has been assessed $1200 for her share
of the rebuilding cost. How much of the assessment will her homeown- ers
policy pay?
a) Non
e
b)$500
, c) $1,000
d) $1,200
ANS $1,000
7. What is the maximum number of roomers or boarders for properties insured
under the dwelling policy?
a)2
b)3
c)5
d)6
ANS 5
8. A type of policy that is used to provide a specific amount of replacement
cost for a given risk after an insured property has been destroyed is called
a(n)
a) Specific risk policy.
b) Valued policy.
c) Pro-forma appraisal policy.
d) Equitable sum policy.
ANS Specific Risk Policy
Exam Review Questions With 100% Correct Answers
(Verified) Latest Update Grade A+
1. What type of information would be found in a
policy's insuring agreement?
Policy limits
Insurer's address
Renewal dates
Location of premises
ANS Renewal Dates
2. Which of the following is true of dwelling policy coverage?
Exclusions only apply to broad policy forms.
There are no exclusions in basic forms.
Special forms only have special exclusions.
Exclusions apply to all three policy forms.
ANS Exclusions apply to all three policy forms
,3. All of the following are considered parts of the policy structure EXCEPT
Insuring clause.
Conditions.
Provisions. Exclusions.
ANS Provisions
4. First aid costs for others injured on the insured's premises
Apply only if the insured is legally liable.
Also cover injuries to the insured's family members. Are
deducted from the liability limit.
Are paid in addition to the liability limit.
ANS Are paid in addition to the liability limit.
5. Which of the following risks is eligible for coverage under a businessowners
policy?
a) Banks
b)Automobile dealers
c) Bars or taverns
d)Condominiums
,ANS Condominiums
6. An insured has a homeowners policy and is required to be a member of the
homeowners association in her neighborhood. The association's community
house has burned down, and the insured has been assessed $1200 for her share
of the rebuilding cost. How much of the assessment will her homeown- ers
policy pay?
a) Non
e
b)$500
, c) $1,000
d) $1,200
ANS $1,000
7. What is the maximum number of roomers or boarders for properties insured
under the dwelling policy?
a)2
b)3
c)5
d)6
ANS 5
8. A type of policy that is used to provide a specific amount of replacement
cost for a given risk after an insured property has been destroyed is called
a(n)
a) Specific risk policy.
b) Valued policy.
c) Pro-forma appraisal policy.
d) Equitable sum policy.
ANS Specific Risk Policy
