CAIB 1 Chapter 2 Question and answers correctly solved 2024

CAIB 1 Chapter 2 Question and answers correctly solved 2024 Identify the three most common homeowners policies in use today. - correct answers Homeowners Basic Form (IBC1151) Homeowners Broad Form (IBC1153) Homeowners Comprehensive Form (IBC1155) In addition to single family dwellings, identify 4 other risks that may be eligible for homeowner's policy. - correct answers 1. Dwellings containing more than 1 family 2. For insureds having more than one principal dwelling 3. Mobile homes situation on a full basement 4. Dwellings in the course of construction when the insured intends to occupy the dwelling Regardless of the Homeowners policy selected, they all have a common format or structure. Identify the two sections of coverage and the coverages under each - correct answers Property Coverages A. Dwelling Building B. Detached Private Structures C. Personal Property D. Additional Living Expenses Liability Coverage E. Personal liability F. Voluntary Medical Payments G. Voluntary payment for Damage to Property H. Voluntary Com