HO-C

A standard Homeowners policy has been issued with a $300,000 limit to cover a four-family dwelling. What is the automatic amount that will be provided for Coverage C?

$75,000

Mary has insured her one-family home under an HO-3 form with a Coverage A limit of $100,000. If she suffered a $100,000 loss to her covered dwelling, how much coverage would be provided under Coverage B for her unattached garage on the premises? A. $10,000 B. $15,000 C. $5,000 D. $7,500

A. $10,000

Perry has his home covered under an HO-5 policy. He borrows a friend's expensive camera and takes it on vacation, where it is stolen. Coverage for the stolen camera is: A. Included anywhere in the world B. More appropriately claimed under the friends policy because he was the owner of the camera C. Excluded by the care, custody and control rule D. Included for up to $500

A. Included anywhere in the world

All of the following items have a special limit of liability for Coverage C of the Homeowners forms, EXCEPT: A. Outdoor furniture B. Securities C. Watercraft D. Gold

A. Outdoor furniture

A standard Homeowners policy has been issued to cover a one-family structure with a coverage limit of $75,000 on the dwelling (Coverage A). What is the automatic amount of insurance coverage on the personal property (Coverage C)? A. $45,000 B. $37,500 C. $7,500 D. $15,000

B. $37,500

An insured is covered under an HO-2 form with a Coverage A limit of $125,000 and a Coverage C limit of $65,000. What amount will automatically be provided for Coverage D? A. $19,500 B. $37,500 C. $32,500 D. $12,500

B. $37,500

Jeremy's home is valued at $950,000. How much insurance does he need to carry on his home, in order to comply with the coinsurance requirement of a Homeowners insurance policy? A. $855,000 B. $760,000 C. $950,000 D. $874,000

B. $760,000

Isabelle is covered under a standard HO-6 form and must vacate her condominium because an adjacent unit has suffered extensive fire damage. Isabelle will need to collect additional living expenses from Coverage D of her HO-6 form? How will this amount be calculated? A. The HO-6 specifies a Coverage D limit of $3,000 B. Isabelle will receive 50% of the Coverage C limit she selected when she purchased the policy C. The HO-6 specifies a Coverage D limit of $5,000 D. Isabelle will receive 30% of the Coverage C limit she selected when she purchased the policy

B. Isabelle will receive 50% of the Coverage C limit she selected when she purchased the policy

Coverage D-Loss of Use on the Homeowners forms provides coverage for "Civil Authority Prohibits Use" for: A. For as long as it takes for the civil authority to declare the area fit for habitation B. No more than two weeks C. No more than four weeks D. For as long as it takes to find another location for the insured to temporarily reside

B. No more than two weeks

The insured is wearing a diamond ring while on vacation in Europe. Her ring valued at $1,500 is stolen. What coverage would apply under the Homeowners policy? A. The claim will be denied because they were out of the US B. The policy will pay the loss less the deductible C. Theft is not covered for jewelry valued in excess of $1,000 D. The loss has exceeded the theft limit

B. The policy will pay the loss less the deductible

The standard deductible in Section 1 of the Homeowners forms is: A. $100 B. $250 C.$500 D. $1,000

C. $500

Which of the following would NOT be covered under Coverage B of the Homeowners forms? A. An inground swimming pool B. A private garage rented to a non tenant C. A separate building on the insured premise used for business D. A building connected to the main dwelling only by a fence

C. A separate building on the insured premise used for business

An insured suffers a partial fire loss to his residence. Under an HO-3 policy what insuring agreement is available to pay for temporary, alternate living quarters? A. Coverage B B. Coverage C C. Coverage D D. Coverage A

C. Coverage D

Under a standard HO-3, the limit for Coverage C--Personal Property for a one or two family dwelling: A. Is set at 30% of Coverage A B. Cannot be higher than $10,000 C. Is set at 50% of Coverage A D. Owner-occupied residences with up to 2 boarders permitted

C. Is set at 50% of Coverage A

Blake is covered by a Homeowners policy with a $50,000 Coverage C limit. Disregarding any deductibles, what is the most Blake can collect if his $1,500 boat is stolen from the insured premises? A. $1,000 B. $1,400 C. $2,000 D. $1,500

D. $1,500