Dwelling Policy Quiz ExamFX
1. Under the dwelling policy, if an insurer chooses to repair or replace damaged or lost property, it must inform the insured within how many days of receiving proof of loss? a. 10 days b. 30 days c. 45 days d. 60 days
30 days
If an insured is in the process of moving to a new location, his personal property coverage under the dwelling policy will apply on a pro rata basis at both locations for a. 30 days. b. 60 days. c. 90 days. d. 5 days.
30 days
The removal coverage that is included in the broad form dwelling policy will cover property temporarily removed from the premises to protect it from damage for how long? a. 5 days b. 15 days c. 30 days d. 60 days
30 days
After the insurer receives proof of loss, it has _______ to pay for the loss.
60 days
The all-risk coverage applies to property insured under Coverages
A and B only
Which of the following would be covered by the broad theft endorsement on a dwelling policy? a. Fabric and patterns in a clothing designer's studio at her home b. An antique car c. A camera the insured has with him on vacation d. A pedigreed show dog
All of these examples except the camera are types of property specifically excluded from coverage under the broad theft endorsement.
Dwelling policy Coverage C - Personal Property will cover all of the following EXCEPT a. Computer software. b. Canoes. c. Animals and birds. d. Hobby aircraft.
Animals, birds and fish are among the types of property that will not be covered by Personal Property coverage.
Under which of the following conditions can broad theft coverage be added to a dwelling policy? a. Broad theft coverage cannot be added to a dwelling policy. b. If the policy has been in effect for 60 days c. If the insured is owner-occupant of the dwelling d. If permission is granted by the department of insurance
Broad theft coverage can be added as an endorsement to a dwelling policy if the insured is owner-occupant of the dwelling. C.
On a DP-3 DP Special Form Policy, the coverage provided for personal property is A. Open peril B. The same as provided on the DP-1 Basic Form C. The same as provided on the DP-2 Broad Form D. All risk
C. The same as provided on the DP-2 Broad Form. Although Coverage A and B on DP-3 are written on an open peril or all-risk basis, the coverage for personal property is written on a named or specified peril.
Which of the following statements is true concerning the special form dwelling policy? a. Coverage A is for all-risk perils, and Coverage C is for the broad form perils. b. Both Coverage A and Coverage C are provided on an all-risk basis. c. Both Coverage A and Coverage Care provided for the broad form perils. d. Coverage A is for all-risk perils, and Coverage C is for basic perils only.
Coverage A is for all-risk perils, and Coverage C is for the broad form perils.
Replacement cost coverage is provided in both the broad and special form dwelling policies when
The amount of insurance on the dwelling is at least 80% of its replacement cost at the time of loss
Changes made to broaden coverage in a DP, if made while the policy is in effect or 60 days before it goes into effect, will apply
automatically and will not need to be endorsed to the policy
Which of the following coverage is NOT included in the basic form dwelling policy?A. Other structure B. Loss of fair rental value C. Additional living expense D. Dwelling coverage
c
Removal coverage is provided for 30 days in the broad and special form, provided that
endangerment by a covered peril made the removal necessary.
Dwelling coverage includes all of the following EXCEPT a. The dwelling used principally for residential purposes. b. Materials on the described location used to alter or repair the dwelling. c. Building and outdoor equipment used to service the described location. d. Land on which the dwelling is located.
land
