AINS 102 Ch 3 Questions Latest Review 2023

AINS 102 Ch 3 Questions Latest Review 2023 Steve and Amy were about to purchase their first home. During the process, they were advised that they needed to purchase a HO-3 insurance policy. The HO-3 policy would provide Steve and Amy with coverage for all of the following, EXCEPT: Select one: A. Their cars B. Personal Liability C. The house D. The contents of the house - Correct Ans-A. Their cars David and Colleen insure their house under a HO-3 policy. One evening, while they were entertaining some friends at their home, the railing of the deck collapsed and one of their guests fell to the ground below. The individual suffered a serious leg injury which required surgery and two days in the hospital. Which one of the following coverages under David and Colleen's HO-3 policy would cover the expenses for the injured individual? Select one: A. Coverage A—Dwelling B. Coverage B—Other Structures C. Coverage D—Loss of Use D. Coverage E—Personal Liability - Correct Ans-D. Coverage E—Personal Liability Nicholas and Laura own property in the country which is insured under an HO-3 policy. There is a cottage, where they reside, and several detached structures on the property including a greenhouse, a pool house, and a storage shed. Under the HO-3, Coverage A—Dwelling applies to Select one: A. Any of the structures used by Nicholas, Laura, or any family member as a residential dwelling. B. None of the structures. C. The cottage, which is the structure that is their residence premises and is listed as such on the policy's declarations. CONTINUES...