All of the following are considered an insured under a Homeowners Policy, except: A.

Medical Payments under Section II of the Homeowners Policy would cover all of the following, except: A Loss of income of an injured person B Medical and surgical expenses C Prosthetic devices D Dental expenses

A

Policyholder C's debit card is stolen, and $1,000 is subsequently stolen from his account. How much will his HO-3 pay for the loss? A $500 B $1,000 C 0% D $250

A

Under a Homeowners Policy, structures on the premises that are separated by a clear space from the dwelling, are covered under: A Coverage B B Coverage D C Coverage A D Coverage C

A

Under the HO-4 and HO-6, personal property is covered on which basis? C

A Open perils coverage B Replacement cost coverage C Broad perils coverage D Basic perils coverage

An HO-3 policy provides coverage on which basis? A

A Open perils coverage on the dwelling and broad form coverage on the personal property B Broad form perils coverage on both the dwelling and personal property C Open perils coverage on both the dwelling and personal property D Replacement cost coverage on both the dwelling and personal property

Residence Premises

A 1-4 family dwelling, where the insured resides, including other structures and grounds at that location. If the dwelling is more than 1 unit, the insured must reside in one of the units.

Under the HO-4 and HO-6, personal property is covered on which basis? A Replacement cost coverage B Broad perils coverage C Basic perils coverage D Open perils coverage

B

Under the unendorsed Homeowners Policy, jewelry is covered up to what amount? A $2,500 for loss by fire B $1,500 for loss by theft C $1,000 for loss by collapse D $1,500 for loss by any peril

B

Which coverage is not provided under Section II of a Homeowners Policy? A Personal injury liability B Medical expense of a guest C Damage to property of others D Medical expense of a boarder

D

Which of the following is not true about the Home Business endorsement? A Advertising injury is covered B The business must be owned by the insured C Professional services are excluded D Only property damage is covered

D

Under Coverage C of a Homeowners Policy, all of the following losses are included, except: A Property of a servant B Property of a roomer, boarder or tenant C Property of a guest D Property of the insured's child who is away at college

B-Property of roomers, boarders, or tenants is not covered under the policy.

All of the following are considered an insured under a Homeowners Policy, except: A A 30-year-old friend living at the insured premises B Any person legally responsible for animals owned by an insured C Persons under age 21 who are residents of the household D Relatives who are residents of the household

C

All of the following are covered under a Homeowners Policy, except: A Vandalism to a dwelling that was vacant for less than 60 days B Equipment that is used to maintain the property C All living expenses incurred when a dwelling becomes uninhabitable after a covered loss D Property of guests and servants

C

All of the following definitions are true of a Homeowners Policy, except: A Residence employee -- An employee of an insured whose duties are related to the maintenance or use of the residence premises B Bodily injury -- Bodily harm, sickness or disease, including required care, loss of services and death that results C Property damage -- Physical injury to tangible property, but does not include loss of use of that property D Occurrence -- An accident, including exposure to conditions that result during the policy period in bodily injury or property damage

C-Property Damage does include loss of use of the property.

Comprehensive Form (HO-5)

Coverages A - Dwelling, Coverage B - Other Structures, and Coverage C - Personal Property provide insurance on an open perils basis.Losses to the dwelling and other structures are valued on a replacement cost basis, losses to personal property are valued on an actual cash value basis.

Under the Homeowners policy, which coverage provides indirect loss coverage? A Coverage B B Coverage D C Coverage C D Coverage A

D-Coverage D provides for the insured's additional living expenses necessitated by damage to the dwelling, an example of indirect loss.

Contents Broad Form (HO-4)

Designed to insure those who are tenants.HO-4 insures personal property under Coverage C against loss from the 16 named broad form perils found in the HO-2 and HO-3 forms.

HO-3(Special Form)

In the Special Form (HO-3), the dwelling and others structures (Coverages A and B) are insured on an open perils basis, meaning all perils are insured if they aren't specifically excluded in the policy.

Government Action

The destruction, confiscation, or seizure of covered property by order of the government and is excluded in the Homeowner policy.

Libel

The dissemination of any written or printed matter tending to unjustly injure a person's reputation.

Slander

The oral dissemination of a falsehood that damages another's reputation.

Modified Form(HO-8)

Used when insuring older homes where replacement value and market value are disproportionate or when a moral hazard would be created if insurance were written in an amount equal to 100% of a dwelling's replacement value.

Residence Employee

is an employee of an insured, or an employee leased under agreement to the insured, and whose duties are related to the maintenance or use of the residence premises.

Under the HO-4 and HO-6, personal property is covered on which basis? B

A Replacement cost coverage B Broad perils coverage C Basic perils coverage D Open perils coverage

Choose the false statement regarding the coverage of property under a Homeowners Policy. A The Personal Property Replacement Cost Endorsement may be added to cover the contents on a replacement cost basis B Theft of silverware is covered up to $2,500 C Money is covered up to $500 per occurrence D The Scheduled Personal Property Endorsement provides open perils coverage

C

Reviewing Missed Questions Choose the correct statement regarding the HO-3. A The dwelling and other structures are written on a Broad Form Perils basis B Coverages A, B, and C are all written on a Replacement Cost basis C The dwelling and other structures are written on an Open Peril basis D The contents are written on an Open Peril basis

C

Which property would be settled for its actual cash value even if the Personal Property Replacement Cost Loss Settlement Endorsement is attached to the HO-3 policy? A Carpeting B Outdoor equipment C Antiques D Appliances

C

A deer chews a hole in an insured's shed sitting next to a pond. Which of the following forms could cover this damage? A HO-8 B HO-2 C DP-1 D HO-3

D

Section II of a Homeowners policy may cover which of the following incidents? A The homeowner's family dog bites their 2 year old son B An insured's guest damages the stair railing during a visit C The insured hits and injures a swimmer while enjoying a ride in an owned inboard motorboat D Bodily injury caused by an insured's activities while picnicking at a city park

D

Choose the correct statement regarding the HO-3. A Coverages A, B, and C are all written on a Replacement Cost basis B The contents are written on an Open Peril basis C The dwelling and other structures are written on a Broad Form Perils basis D The dwelling and other structures are written on an Open Peril basis

D-he HO-3 (Special Form) provides the broadest Coverage available on structures: Open Perils (or all-risk) Coverage.

Broad Form(HO-2)

Dwelling and Homeowners Policy Fire, lightning, internal explosion, wind, hail, aircraft, riot, vehicles, volcanic eruption, explosion, smoke, VMM. Plus: Damage by burglars, falling objects, weight of snow/ice/sleet, accidental discharge/overflow of steam or water, sudden and accidental freezing or tearing apart/cracking/burning/bulging of steam/hot water heating system, plumbing, air conditioning or automatic fire protection sprinkler system, household appliance for heating water, sudden and accidental damage from artificially generated electrical current.

Which statement is false concerning a Homeowners Policy?

W A The HO-4 covers the dwelling against the Broad Form Perils B The HO-3 covers the contents against the Broad Form Perils C The HO-4 is sometimes called a Tenants Form D The HO-3 covers the dwelling on an open perils basis

Medical Payments under Section II of the Homeowners Policy would cover all of the following, except: A

A) Loss of income of an injured person B) Medical and surgical expenses C) Prosthetic devices D) Dental expenses

Which of the following coverages is provided under the Additional Coverage of Property Removed? B

A) Named peril coverage for 30 days B) Open peril coverage for 30 days C) Open peril coverage for 10 days D) Named peril coverage for 15 days

Section II of a Homeowners policy may cover which of the following incidents?

A) The homeowner's family dog bites their 2 year old son B) An insured's guest damages the stair railing during a visit C) The insured hits and injures a swimmer while enjoying a ride in an owned inboard motorboat D) Bodily injury caused by an insured's activities while picnicking at a city park

Broad Form(HO-2)

Dwelling and Homeowners Policy-Fire, lightning, internal explosion. 16 Named perils; wind, hail, aircraft, riot, vehicles, volcanic eruption, explosion, smoke, VMM. Plus: Damage by burglars, falling objects, weight of snow/ice/sleet, accidental discharge/overflow of steam or water, sudden and accidental freezing or tearing apart/cracking/burning/bulging of steam/hot water heating system, plumbing, air conditioning or automatic fire protection sprinkler system, household appliance for heating water, sudden and accidental damage from artificially generated electrical current.