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Personal Lines Exam Questions And Answers With Verified Solutions Already Passed Latest Updated 2024 $15.49   Add to cart
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Personal Lines Exam Questions And Answers With Verified Solutions Already Passed Latest Updated 2024
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Personal Lines Exam Questions And Answers With Verified Solutions Already Passed Latest Updated 2024

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  • October 1, 2024
  • 31
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • personal lines exam questions and answers with ver
  • which of the following would be eligible under a d
  • rates that cannot be used until the department or
  • which is true regarding dwelling policies

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  • Personal lines
  • Personal lines

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Personal Lines Exam Questions And
Answers With Verified Solutions Already
Passed Latest Updated 2024
Which of the following would be eligible under a dwelling policy?
A-Four-dwelling unit with 6 boarders
B-Rental house occupied by tenant
C-3 acre farm
D-A motor home - ANSWER✔✔B-Rental house occupied by tenant


Rates that cannot be used until the Department or Division of Insurance approves
them are referred to as:A-Use and file rates
B-File and use rates
C-Open competition rates D-Prior approval rate - ANSWER✔✔D-Prior approval
rate


Which is true regarding Dwelling policies?
A-Coverage C includes coverage for personal property of tenants and boarders
B-Coverage B would cover an attached garage
C-Coverage D is considered a direct loss coverage
D-Coverage C applies while insured property is located at the described location -
ANSWER✔✔D-Coverage C applies while insured property is located at the
described location


Which of the following is false regarding the Broad Theft Endorsement under the
Dwelling policy?
A-It may be added to any of the Dwelling forms

,B-It includes vandalism resulting from theft
C-It applies only to owner-occupied structures - ANSWER✔✔Which of the
following is false regarding the Broad Theft Endorsement under the Dwelling
policy?
A-It may be added to any of the Dwelling forms
B-It includes vandalism resulting from theft
C-It applies only to owner-occupied structures


When applying for Homeowners insurance, Mr. Applebee tells his agent that the
home is used strictly as a residence. Actually, he manufactures fireworks in the
basement at the home. What will happen if the insurance company discovers Mr.
Applebee's misrepresentation after the policy is issued?
A-It will void the policy because Mr. Applebee misrepresented a material fact
B-Nothing, because the agent should have been more thorough in completing the
application
C-None of the answers listed
D-Nothing, because the policy is considered a non-cancelable type policy -
ANSWER✔✔A-It will void the policy because Mr. Applebee misrepresented a
material fact


Which of the following is not true about medical payments under the Personal
Auto Policy?
A-The coverage limit applies per person, per accident
B-Coverage applies only for medical expenses incurred within one year of the
accident
C-Medical expenses of the insured and family members are covered
D-Medical expenses of all persons occupying the insured auto are covered -
ANSWER✔✔B-Coverage applies only for medical expenses incurred within one
year of the accident

,Which of the following is true regarding coverage of trees, shrubs or plants under
the Dwelling policies?
A-Damage to plants by wind, hail, weight of ice, snow or sleet is not covered
B-Theft of shrubs and plants is covered
C-All vehicle damage to trees, shrubs, or plants is covered
D-The Limit of Liability is $1,000 for any tree, shrub, or plant - ANSWER✔✔A-
Damage to plants by wind, hail, weight of ice, snow or sleet is not covered


Choose the statement that is false about the FAIR plan.
A-It provides basic property coverage to those who have been rejected in the
standard market
B-Agents cannot bind FAIR plan coverage
C-It provides property coverage to both residential and farm dwellings
D-FAIR means Fair Access to Insurance Requirements - ANSWER✔✔C-It
provides property coverage to both residential and farm dwellings


Policyholder M insures her owner-occupied single family residence under a
dwelling property policy (DP-3) with a limit of $100,000. If the dwelling is
damaged in a fire, what policy coverage will pay for M's extra costs to stay in a
motel and board her pets while the fire damage is being repaired?
A-Coverage E
B-Coverage C
C-Coverage B
D-Coverage D - ANSWER✔✔A-Coverage E


Each of the following business occupancies would be permitted in a dwelling
insured under a Dwelling form, EXCEPT:

, A-A professional office providing services to clients
B-A photographic studio
C-A beauty shop run by the insured and her daughter
D-A small store selling musical instruments to the general public at retail -
ANSWER✔✔D-A small store selling musical instruments to the general public at
retail


Under the Homeowners policy, which coverage provides indirect loss coverage?
A-Coverage B
B-Coverage C
C-Coverage D
D-Coverage A - ANSWER✔✔C-Coverage D


Choose the true statement about the Basic Dwelling Form.
A-The Basic Form covers loss to trees, shrubs and plants
B-The Basic Form covers contents on an open perils basis
C-The Basic Form automatically covers contents for theft
D-The Basic Form covers internal explosion - ANSWER✔✔D-The Basic Form
covers internal explosion


Under a Homeowners Policy, how much coverage is provided for theft or
unauthorized use of a credit card?
A-$1,000
B-$2,500
C-The Coverage C Limit of Insurance
D-$500 - ANSWER✔✔D-$500

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