©FYNDLAY 2025 ALL RIGHTS RESERVED 11:49 AM A+
Cheat Sheet - Property & Casualty Exam
Questions And Answers |Latest 2025 |
Guaranteed Pass
What are the forms of homeowner policies? - Answer✔HO-2, HO-3, HO-4, HO-5, HO-6, HO-8.
Each of these forms provides identical liability coverage. The property coverage varies with the
homeowners form selected. The following is a list of the forms with the covered perils of each.
HO-2 - Answer✔Broad form; owner occupant
HO-3 - Answer✔Special Form; owner occupant
HO-4 - Answer✔Tenants or Renters
HO-5 - Answer✔Comprehensive Form; owner-occupant (open to all except exclusions)
HO-6 - Answer✔Condominium Owners
HO-8 - Answer✔Modified Form for Special Risks (such as older homes that would cost more to
rebuild than they're worth)
Dwelling Basic Form - Answer✔DP-1
1|Page
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 11:49 AM A+
DP-1 - Answer✔*Dwelling basic form that provides certain other coverages that are
automatically included for not additional premium.*
-Other structures allows use of up to 10% of the Coverage A limit of liability for covered losses
to other structures as described in coverage B.
-Debris removal pays for the expense of removing debris as the result of a loss covered by the
policy.
-Reasonable repairs pays for reasonable costs to make necessary repairs to protect property
from further damage following a covered loss.
-Improvements, alterations, and additions provide coverage for insureds who are tenants for
improvements or alterations made to the dwelling at the tenant's expense
-Fire department service charge - pays up to $500 for fire department charges incurred when
they're called to save or protect property.
-Worldwide coverage provides 10% of coverage C (personal property on premisis)
-Rental value - provides up to 20% of Coverage A (dwelling) limit of liability for loss of fair rental
value.
Dwelling Broad Form - Answer✔DP-2
DP-2 - Answer✔*Includes all the coverages in DP-1 plus some other coverages that are not
found in DP-1.* + BIG AFFECT
-Trees, shrubs, and other plants pays up to 5% of Coverage A limit for damage to trees, shrubs,
plants. etc. Policy will not pay more than $500 for damage.
-Collapse pays for the collapse of the dwelling caused by a specified list of perils. To be
considred a collapse, the loss must involve the building or part of building abruptly falling or
caving.
-Glass or safety glazing material pays for the breakage of glass or safety glazing material and
damage to covered property caused by glass breakage.
-Ordinance or law coverage allows payment of up to 10% of coverage A limit of liability for the
increased cost to repair or rebuild a dwelling or other structure to conform to applicable
building and land use codes.
2|Page
Cheat Sheet - Property & Casualty Exam
Questions And Answers |Latest 2025 |
Guaranteed Pass
What are the forms of homeowner policies? - Answer✔HO-2, HO-3, HO-4, HO-5, HO-6, HO-8.
Each of these forms provides identical liability coverage. The property coverage varies with the
homeowners form selected. The following is a list of the forms with the covered perils of each.
HO-2 - Answer✔Broad form; owner occupant
HO-3 - Answer✔Special Form; owner occupant
HO-4 - Answer✔Tenants or Renters
HO-5 - Answer✔Comprehensive Form; owner-occupant (open to all except exclusions)
HO-6 - Answer✔Condominium Owners
HO-8 - Answer✔Modified Form for Special Risks (such as older homes that would cost more to
rebuild than they're worth)
Dwelling Basic Form - Answer✔DP-1
1|Page
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 11:49 AM A+
DP-1 - Answer✔*Dwelling basic form that provides certain other coverages that are
automatically included for not additional premium.*
-Other structures allows use of up to 10% of the Coverage A limit of liability for covered losses
to other structures as described in coverage B.
-Debris removal pays for the expense of removing debris as the result of a loss covered by the
policy.
-Reasonable repairs pays for reasonable costs to make necessary repairs to protect property
from further damage following a covered loss.
-Improvements, alterations, and additions provide coverage for insureds who are tenants for
improvements or alterations made to the dwelling at the tenant's expense
-Fire department service charge - pays up to $500 for fire department charges incurred when
they're called to save or protect property.
-Worldwide coverage provides 10% of coverage C (personal property on premisis)
-Rental value - provides up to 20% of Coverage A (dwelling) limit of liability for loss of fair rental
value.
Dwelling Broad Form - Answer✔DP-2
DP-2 - Answer✔*Includes all the coverages in DP-1 plus some other coverages that are not
found in DP-1.* + BIG AFFECT
-Trees, shrubs, and other plants pays up to 5% of Coverage A limit for damage to trees, shrubs,
plants. etc. Policy will not pay more than $500 for damage.
-Collapse pays for the collapse of the dwelling caused by a specified list of perils. To be
considred a collapse, the loss must involve the building or part of building abruptly falling or
caving.
-Glass or safety glazing material pays for the breakage of glass or safety glazing material and
damage to covered property caused by glass breakage.
-Ordinance or law coverage allows payment of up to 10% of coverage A limit of liability for the
increased cost to repair or rebuild a dwelling or other structure to conform to applicable
building and land use codes.
2|Page
