Property & Casualty Practice Exam: Personal Lines (A+ GUARANTEED)

Coverage under a comprehensive PL Policy or Homeowners Section II extends: A) To the premises described and to the personal activites of the insured on or off of the premises B) Only to the premises described in the policy C) Only to the personal activities of the insured D) To the premises described and to all personal and business activities of the insured on or off the described premises correct answers A Which property is excluded under an HO3 policy? A) Firearms B) Jewelry C) Securities D) Guard dog correct answers D Which is an additional benefit that is included in a DP2 that is not included in a DP1? A) Debris Removal B) Lawns, tree, shrubs C) Reasonable repairs D) Fire dept. services correct answers B What additional coverage does a DP2 have compared to a DP1? A) Debris Removal B) Improvements, alterations, and additons C) Personal liability D) Additional living expenses correct answers D Which of the following collapse losses would be covered under an HO3? A) Defective workmanship completed 2 years ago B) Known insect damage C) Weight of contents D) Earth movement from a volcanic eruption correct answers C Mary has an HO3 policy with replacement cost coverage on the insured buildings. The cost of replacement on the dwelling is $100,000, and the other structure (a garage) is $20,000. To be certain of replacement cost coverage on a partial loss to either structure, she must carry a minimum of A) $100,000 on the dwelling; $10,000 on the garage B) $100,000 on the dwelling; $20,000 on the garage C) $80,000 on the dwelling; $8,000 on the garage D) $80,000 on the dwelling; $16,000 on the garage correct answers D