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Missed test questions section 2

Terms in this set (35)

A Building and Personal Property policy usually provides coverage based on which basis
Actual Cash Value
The owner of a business carelessly left the rear door unlocked over the weekend, resulting in merchandise being stolen. Under a Building and Personal Property policy - Special, this loss
will be covered as a theft loss
Under the Business Income Form, indemnity refers to
payment for the actual income loss sustained
A Business Income Form
terminates when the building should have been restored
The Business Income form covers each of these EXCEPT
property replacement
The Extended Business Income Period
Pays for up to 30 days after reopening
A person who owns jewelry worth over $50,000 should get a
Personal Articles Floater
A Personal Article Floater can cover
golfer's equipment
Tourist luggage is insured by which floater
Personal Effects
A scheduled personal property endorsement may be used to cover each of the following EXCEPT
decks and awnings
Loading docks and cattle shipped to market are insured by what area of insurance
inland marine
The least likely method of payment for loss under a Floater is
Fair market value
Molly has a Homeowners Policy with a $2,000 limit on theft of jewelry. Molly also has a $2,500 scheduled personal property endorsement covering her jewelry. If her ring is stolen, the insurer will pay (given a $250 deductible)
$2,500
The HO forms have a special limit (aka inside limit) for which of the following
Silverware
If the insured is injured in her home, she will be compensated under
Her health insurance policy, but not under the HO at all
A Dwelling policy may be used if the structure has a maximum of how many boarders
5
A DP-1 (Dwelling Policy -1) covers each of the following EXCEPT
earth movement
The HO's Medical Payments pays
only up to the limit of liability
If the insured's dog bites a jogger, the HO will pay a maximum of defense costs plus
$100,000
With a mobile home endorsement, personal property is covered to
40% of A
The HO policy which provides the best coverage for an owner who occupies a single-family home is the
HO-5
In the evenings, Nancy runs a baby-sitting service in her home. She cheerfully babysits neighborhood kids because she loves the kiddies. She never charges for this service. If a child is injured in her home, Nancy's HO policy's Section II coverage limit for such a claim is
$100,000
Section II of a Homeowner Policy provides coverage for
acts of the homeowner's dog
In comparing an HO-2 and HO-3, the HO-3 has
None of the above
Which Homeowners policy is used when the cost to rebuild the home would cost more than the market value of the home
HO-8
Four trees valued at $200, $500, $700 and $800 were destroyed by fire. The HO-5 will cover this loss to a total of
$1,700
While at the lake, my boat could be destroyed by fire, striking another boat, lightning, sinking, etc. If the boat is destroyed, my HO Insurer will pay a maximum of
the policy limit
Molly's HO-00-03 has a $250 deductible and $1,500 limit for theft of jewelry.
Molly's jewelry is also covered by a Scheduled Personal Property Endorsement (that is, an Inland Marine floater) with a $2,500 limit of liability.
If $4,000 worth of Molly's jewelry is stolen, she will recover a maximum of how much
$2,500
A Mobile Home policy covers the Insured's personal property
to 40% of A
Section I of the HO-3 covers trees, shrubs, and plants for loss caused by each of the following EXCEPT
Wind
An HO-3 covers each of these EXCEPT
Flooding
Of the following, which provides the broadest coverage for the dwelling and contents
HO-3
The HO-3 covers which of the following
Vandalism if the structure has been vacant for 60 consecutive days
While on vacation, an insured suffered a fire loss to his personal property which he had taken with him on the vacation. His DP-3 will cover this loss in which manner
The loss will not be covered
The HO forms include a special limit for each of the following except
Clothes
Sets found in the same folder