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Iowa Property and Casualty Question and answers verified to pass 2024

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Iowa Property and Casualty Question and answers verified to pass 2024 Iowa Property and Casualty HO-2, HO-3, HO-4, HO-5, HO-6, and HO-8 are all types of homeowners policies. Which two sets of policies are not solely designed for owner-occupied dwellings? - correct answer HO-4 and HO-6 The ...

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  • August 30, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • iowa property and casualty
  • iowa property and casualty question and answers ve

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Iowa Property and Casualty
HO-2, HO-3, HO-4, HO-5, HO-6, and HO-8 are all types of homeowners
policies. Which two sets of policies are not solely designed for owner-
occupied dwellings? - correct answer ✔HO-4 and HO-6


The HO-8, also known as the modified coverage form, is designed to meet the
needs of what type of insured? - correct answer ✔Owners of a historic home
whose replacement cost value exceeds the value of the home itself


A tenant who does not need to buy coverage for the dwelling itself but would
like to cover his own personal property should obtain which type of
homeowners policy? - correct answer ✔HO-4


To obtain the broadest coverage available for an owner-occupied dwelling, the
insured should purchase which type of homeowner's policy? - correct answer
✔HO-5 comprehensive form


Broad form provides coverage for which of the following perils? - correct
answer ✔Glass breakage, Ice and snow weight, freezing of pipes, collapse,
falling objects, and electrical damage


An unendorsed DP-3 policy does not provide coverage for which of the
following exposures? - correct answer ✔Theft


Covered by unendorsed DP-3 - correct answer ✔storage sheds and garages
(other structures), debris removal, and theft


The DP-3 Dwelling Form contains all of the following coverages EXCEPT: -
correct answer ✔Coverage A - Land

, Special forms coverage is coverage on a DP policy form that combines broad
form perils with what other form of perils? - correct answer ✔Open Perils


Coverage C - Personal Property provides coverage for the insured's personal
property under what circumstance? - correct answer ✔While on the covered
premises


Risks can be classified as pure or speculative. Which of the two, pure or
speculative, is always undesirable? - correct answer ✔Pure


Which hazard is defined as intentionally causing, fabricating, or exaggerating
a loss? - correct answer ✔Morale


There are four types of hazards that cause a loss. An insured failing to salt
and shovel her sidewalk after a snowstorm presents what type of hazard? -
correct answer ✔Moral Hazard


There are three elements to a loss exposure. What can be defined as a cause
of loss? - correct answer ✔Peril


Vandalism and Malicious Mischief (VMM) is an optional coverage that can be
added by endorsement to which policy? - correct answer ✔DP-1


If Coverage C (personal property coverage) is written on a dwelling form, the
Other Coverages section of the policy will extend the insurance to provide
worldwide personal property coverage for an amount up to which of the
following? - correct answer ✔10% of coverage C limit

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