Property Certification Exam AD Banker
Questions And Answers 100% Pass
For insurance purposes, an unfurnished beach house in which no one lives is considered:
1.Empty
2.Vacant
3.Unused
4.Unoccupied - answer✔Vacant
Which peril is covered under the DP-1?
1.Freezing
2.Weight of ice, snow, or sleet
3.Falling objects
4.Lightning - answer✔Lightning
An insured and insurer will utilize which of the following when they are unable to agree on the
amount of a property claim to be paid?
1.Appraisal
2.Assignment
3.Recession
4.Subrogation - answer✔Appraisal
Which term describes the cost to replace property with a deduction for depreciation?
1.Fair market value
2.Actual cash value
4.Stated value - answer✔Actual cash value
What is another name for the Homeowners form HO-4?
1.Broad Form
2.Tenant's Form
3.Special Form
4.Modified Coverage Form - answer✔Tenant's Form
Which Homeowners policy form is for dwelling owners who cannot insure their older homes for
replacement cost?
HO-8
HO-2
HO-3
НО-6 - answer✔HO-8
Which condition provides the insurer the right to collect against a responsible third party?
1.Liberalization
2.Restoration
3.No Benefit to Bailee
4.Subrogation - answer✔Subrogation
If an insured's claim was denied, the mortgagee can collect under the policy as long as the
mortgagee meets all of the following requirements, except:
1.Notify the insurer of any change of ownership or change in risk if aware of those changes
2.Pay any premium due under the policy on demand if the insured fails to do so
3.Submit proof of loss to the insurer if the insured fails to do so
4.Hire a private investigator to follow the insured - answer✔4.Hire a private investigator to
follow the insured
All of the following perils are automatically covered under the DP-3, except:
1.Hail
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