CIC - PERSONAL LINES – STUDY GUIDE
EXAM QUESTIONS WITH CORRECT
ANSWERS
Owner Occupant - Answer--used exclusively as a private residence
- one through 4 family residence may be written as long as one occupant is the owner
Purchase under contract - Answer--seller maintains deed to property until terms are met
-Show the contract purchaser as named insured
Residence held in Trust - Answer--homeowner policy in name of occupant of home
Life Estate - Answer--individual holds full rights to possession and use of a property for
the length or his/her natural lifetime
-attach Additional Insured Endorsement
Home under Construction - Answer--must be issued in name of intended owner-
occupant
-advantages and disadvantages to having this under HO
Tennant of dwelling or apartment - Answer--may be issued to the tenant
Co-owner Occupants - Answer--issued when there may be separate interests in
personal prop and activities, but common interests in building and other structures.
-HO with building coverage can only be issued to one of them
Joint ownership/non occupant - Answer--when only one of the co-owners occupies the
bldg.
-Attach Additional Insured End. to the absent co-owner
Shared Ownership - Answer--For a townhouse or Condo
-For condo use HO 06 which covers everything inside the unit not specified as common
elements
Seasonal - Answer--separate HO written to cover an additional residence
-whenever possible both should be written by same company
Incidental Business occupancies - Answer--for small businesses operating in a home
- add endorsement Permitted Incidental Occupancies
Mobile Home - Answer--Best to insure through speciality lines
-are eligible though for a an HO
, HO 00 02 - Answer-BROAD FORM
-for owner occupied dwellings
-NAMED perils for both dwelling and PP
HO 00 03 - Answer-SPECIAL FORM
-most common form
-open perils for dwelling and named perils for PP
HO 00 04 - Answer-CONTENTS BROAD FORM
-tenant occupied
-named perils for PP
HO 00 05 - Answer-COMPREHENSIVE FORM
-owner occupied dwelling
-open perils for Dwelling and PP
HO 00 06 - Answer-UNIT OWNERS
-individual condo units
-Named perils
HO 00 08 - Answer-Modified Cov Form
-owner occupied dwellings
-older/low value dwellings
-very limited coverage
8 Common Definitions of an ISO HO 3 - Answer--you and your
-we, us, our
-aircraft/motor veh/watercraft
-Bodily Injury
-Business
-Employee
-Insured
-Insured location
You and Your - Answer--the person named in the declaration
-the spouse, if a resident of the same household
We, US, Our - Answer--the insurance co providing the coverage
-
Aircraft/motor veh/watercraft - Answer--liability for bodily injury or property damage
-purpose is to restrict coverage for exposures that should be provided under other
policies
Bodily Injury - Answer--usually requires a physical manifestation
EXAM QUESTIONS WITH CORRECT
ANSWERS
Owner Occupant - Answer--used exclusively as a private residence
- one through 4 family residence may be written as long as one occupant is the owner
Purchase under contract - Answer--seller maintains deed to property until terms are met
-Show the contract purchaser as named insured
Residence held in Trust - Answer--homeowner policy in name of occupant of home
Life Estate - Answer--individual holds full rights to possession and use of a property for
the length or his/her natural lifetime
-attach Additional Insured Endorsement
Home under Construction - Answer--must be issued in name of intended owner-
occupant
-advantages and disadvantages to having this under HO
Tennant of dwelling or apartment - Answer--may be issued to the tenant
Co-owner Occupants - Answer--issued when there may be separate interests in
personal prop and activities, but common interests in building and other structures.
-HO with building coverage can only be issued to one of them
Joint ownership/non occupant - Answer--when only one of the co-owners occupies the
bldg.
-Attach Additional Insured End. to the absent co-owner
Shared Ownership - Answer--For a townhouse or Condo
-For condo use HO 06 which covers everything inside the unit not specified as common
elements
Seasonal - Answer--separate HO written to cover an additional residence
-whenever possible both should be written by same company
Incidental Business occupancies - Answer--for small businesses operating in a home
- add endorsement Permitted Incidental Occupancies
Mobile Home - Answer--Best to insure through speciality lines
-are eligible though for a an HO
, HO 00 02 - Answer-BROAD FORM
-for owner occupied dwellings
-NAMED perils for both dwelling and PP
HO 00 03 - Answer-SPECIAL FORM
-most common form
-open perils for dwelling and named perils for PP
HO 00 04 - Answer-CONTENTS BROAD FORM
-tenant occupied
-named perils for PP
HO 00 05 - Answer-COMPREHENSIVE FORM
-owner occupied dwelling
-open perils for Dwelling and PP
HO 00 06 - Answer-UNIT OWNERS
-individual condo units
-Named perils
HO 00 08 - Answer-Modified Cov Form
-owner occupied dwellings
-older/low value dwellings
-very limited coverage
8 Common Definitions of an ISO HO 3 - Answer--you and your
-we, us, our
-aircraft/motor veh/watercraft
-Bodily Injury
-Business
-Employee
-Insured
-Insured location
You and Your - Answer--the person named in the declaration
-the spouse, if a resident of the same household
We, US, Our - Answer--the insurance co providing the coverage
-
Aircraft/motor veh/watercraft - Answer--liability for bodily injury or property damage
-purpose is to restrict coverage for exposures that should be provided under other
policies
Bodily Injury - Answer--usually requires a physical manifestation
