Exam (elaborations)
INSURANCE PLANNING , PROPERTY & CASUALTY INSURANCE (MODULE 4) QUESTIONS WITH ACTUAL SOLUTIONS.
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INSURANCE PLANNING , PROPERTY & CASUALTY INSURANCE (MODULE 4) QUESTIONS WITH ACTUAL SOLUTIONS.
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INSURANCE PLANNING , PROPERTY &CASUALTY INSURANCE (MODULE 4)
QUESTIONS WITH ACTUAL SOLUTIONS
Declarations ll- llAnswer llname llthe llinsured lland llthe llproperty llcovered llunder llthe
llcontract, lland llpresent llfacts llabout llcoverage, llpremiums, lland llthe llinsurer's lllimits llof
llliability
Insuring llAgreements ll- llAnswer llset llforth llthe llcoverage llprovided llby llthe llinsurance
llcontract. llIt llstates llthe llinsurer's llobligation llto llprovide llcoverage llas llstated llin llthe
llpolicy llin llreturn llfor llthe llinsured's llcompliance llwith llall llpolicy llprovisions lland llpayment
llof llpremiums
Endorsements lland llRiders ll- llAnswer llchange llstandard llinsurance llcontracts llby
lladding llor lleliminating llcoverage llto llmeet llthe llinsured's llspecific llinsurance llneeds.
llCoverage llhere llis llusually llprovided llon lla llvalued llbasis
Conditions ll- llAnswer llExplain llin lldetail llthe llrelationships, llrights lland llduties llof llthe
llinsurer lland llthose llof llthe llinsured
What llis llthe lldifference llbetween llnamed-peril llcoverage lland llopen-peril llcoverage? ll-
llAnswer llNamed-peril llcoverage lllists llthe llspecific llperils llcovered llin llthe llhomeowners
llpolicy. llIn llopen-peril llcoverage llthe llinsurer llpays llfor lldamages llby llany llperil, llexcept
llfor llthose llexcluded llin llthe llpolicy
Homeowners llinsurance llhas llthree lllevels llof llcoverage. llWhat llare llthey? ll- llAnswer ll-
llBasic llor llstandard llcoverage: llprovides lla llminimum lllevel llof llprotection llrestricted llto
llperils llof llfire, lltheft, llvandalism lland llextended llcoverage
- llBroad llform llcoverage: llincludes llbasic llcoverage llplus ll16 llperils
- llSpecial llcoverage: llprovides llcoverage llon llan llopen-peril llbasis llwhich llalso llincludes
llcoverage llfor lltheft
What llis llthe llabbreviation llfor llhomeowners llinsurance? ll- llAnswer llHO
What llare llthe ll16 lladditional llperils llfound llin llbroad llform llHO llcoverage? ll- llAnswer ll-
llFire lland lllightening
- llWindstorm lland llhail
- llExplosion
, - llRiot lland llcivil llcommotion
- llVehicles
- llAircraft
- llSmoke
- llVandalism lland llmalicious llmischief
- llTheft
- llFalling llobjects
- llWeight llof llice, llsnow llor llsleet
- llAccidental lldischarge llor lloverflow llof llwater llor llstream
- llExplosion llof llsteam llor llhot llwater llsystem
- llFreezing llof llplumbing, llheating lland llair llconditioning llsystems lland lldomestic
llappliances
- llDamage llfrom llartificially llgenerated llelectrical llcurrents
- llVolcanic llEruption
HO-1 ll- llAnswer llBasic ll- lllesser llcoverage llas llcompared llto llHO-2 lland llHO-3. llHO-1
llhas llbeen lldiscontinued llin llmost llstates
HO-2 ll- llAnswer llBroad ll- llBetter llcoverage llas llcompared llto llHO-1. llThe lldwelling lland
llstructures llof llthis llcoverage llis llnamed llperil llcoverage. llProvide llcontents llcoverage llup
llto ll50% llof llthe lldwelling llcoverage
HO-3 ll- llAnswer llSpecial ll- llHO-2 llcoverage llis llbroad llcoverage, llwhereas llwith llHO-3
llpolicies, lllosses llare llcovered llunless llspecifically llexcluded. llThe lldwelling lland
llstructures llunder llthis llcoverage llare llconsidered ll"open llperil". llHO-3 llprovides
llcontents llcoverage llup llto ll50% llof llthe lldwelling llcoverage
HO-4 ll- llAnswer llContents llBroad ll- llthis llform llcovers llthe llcontents lland llpersonal
llliabilities llof llRENTERS. llIt llprovides llno llcoverage llon lla lldwelling llor llon llother
llstructures.
HO-6 ll- llAnswer llCondominium llowners llinsurance
HO-8 ll- llAnswer llModified ll- llthis llform llcovers llhouses llhaving lla llreplacement llcost
llgreater llthan llmarket llvalue, lltypically llolder llhomes
Section llOne llof llHO llconsists llof llwhat llfive llparts? ll- llAnswer ll- llCoverage llA
- llCoverage llB
- llCoverage llC
- llCoverage llD
- llAdditional llCoverages
Coverage llA ll- llAnswer llDwelling
Coverage llB ll- llAnswer llOther llstructures
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