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Personal Lines Final Exam 1 Questions And Answers With Verified Solutions Already Passed!!! Latest Updated 2024
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Personal Lines Final Exam 1 Questions And Answers With Verified Solutions Already Passed!!! Latest Updated 2024

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  • October 1, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • personal lines final exam 1 questions and answers
  • on a ho 00 policy coverage for personal proper
  • on a property policy the exclusion on earth movem
  • on a ho 3 00 rain damage to contents is covere

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  • Personal lines
  • Personal lines

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Personal Lines Final Exam 1 Questions
And Answers With Verified Solutions
Already Passed!!! Latest Updated 2024
On a HO ('00) policy, coverage for personal property applies:
A) On premises only
B) Within the U.S Only
C) In North America Only
D) Anywhere in the world - ANSWER✔✔D) Anywhere in the world


On a Property policy, the exclusion on earth movement excludes all EXCEPT:
A) Earthquake
B) Explosion
C) Landslide
D) Mud flow - ANSWER✔✔B) Explosion


On a HO-3 ('00), rain damage to contents is covered:
A) Never, since contents coverage is named peril
B) Always, since rain damage is coverage peril
C) Always, since the HO-3 is all-risk
D) If the wind damages the dwelling allowing the rain to enter - ANSWER✔✔D)
If the wind damages the dwelling allowing the rain to enter


All are true about an HO-4 ('00) policy EXCEPT:
A) It is often sold to those who rent apartments
B) It is also known as "contents broad form" coverage

, C) It does not cover theft of personal liability
D) It covers both personal property and personal liability - ANSWER✔✔C) It does
not cover theft of personal liability


An insured w/ a HO-3 ('00) policy covering his dwelling for $100,000 rents out his
garage to a friend for his wood-working business. In the event the garage burns
down, what is the most the policy will pay:
A) Zero
B) $10,000
C) $10,000 plus loss of rental income
D) $10,000 plus the value of the friend's woodworking equipment -
ANSWER✔✔A) Zero


On a DP policy, which provision applies to a loss when two or more policies are in
force:
A) Co-insurance
B) Other insurance
C) Liberalization
D) Subrogation - ANSWER✔✔B) Other insurance


On an all-risk HO-3 ('00), which of the following is fully covered:
A) Theft of your outboard motor from your boat at the marine
B) Your canoe is stolen from your unattached garage
C) Dropping and breaking your $2,500 camera
D) Theft of your $2,500 Rolex - ANSWER✔✔B) Your canoe is stolen from your
unattached garage

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