Exam (elaborations)
CIC Personal Lines – Residential Questions With Correctly Solved Answers!!
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CIC Personal Lines – Residential Questions With Correctly Solved Answers!!
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Name: Score:32 Multiple choice questions
Definition 1 of 32
-Fire/Lightning
- Windstorm/Hail
- Explosion
- Riot/ Civil Commotion
- Aircraft
- Vehicles
- Smoke
- Vandalism
- Theft
- Falling Objects
- Weight of ice, sleet, snow (for property inside building)
- Accidental discharge/overflow of water/steam
- Cracking/burning of Heating System or AC or Hot Water Heater
- Freezing
- Sudden & Accidental Damage from Artifically Generated Electric Current
- Volcano
Advantages and Disadvantages of Scheduling
HO-3 Named Perils for Coverage C (Personal Property)
How to Protect Insurable Interest of a Non-Resident Owner
Scheduled Personal Property Endorsement: What items can you schedule?
,Definition 2 of 32
1. Residence Premises
2. Other Premises and Structures:
- Shown in Dec.
- Acquired in Policy Period for your use as residence
3. Temporary non-owned residence
4. Vacant land rented/owned
5. Land owned/rented on which a <= 4 family dwelling is being built
6. Premises occasionally rented for non-business use
Section II Additional Coverages
Define "Insured Location"
Coverage C - What's covered?
Homeowner's Additional Coverages
, Term 3 of 32
Coverage E - What's Covered?
Personal Property
- Property owned/used by insured anywhere in the world
- 50% of A
Not property usually located at an insured's residence other than residence premises or at
self-storage
- 10% of C or $1000 (greater of)
- Doesn't apply to new home < 30 days
Personal Liability
- Bodily Injury and Property Damage caused by "occurrence"
- Doesn't include Personal Injury
- Defense Costs in addition to Limits
Medical Payments
- Necessary/Reasonable expenses incurred within 3 years
- Medical, surgical, x-ray, dental, ambulance, etc
- Doesn't apply to Insured or Regular Resident
- Dwelling
- Structures attached to building
- Supplies for building, renovations, repair
- Does NOT include land under the building
Definition 4 of 32
a) Self-Propelled land/water vehicle
b) Any trailer towed by a)
Homeowner's Additional Coverages
Homeowner's Definition of Motor Vehicle
Homeowners "Business" Exceptions
Homeowners Coverage D
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