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Iowa Personal Lines Questions And Answers With Verified Solutions Already Passed!!!
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Iowa Personal Lines Questions And Answers With Verified Solutions Already Passed!!!
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Iowa Personal Lines Questions AndAnswers With Verified Solutions Already
Passed!!!
DP-1 - ANSWERS✔✔Basic Form Dwelling Policy: Provides coverage on a
named peril basis.
DP-1 - ANSWERS✔✔Losses are paid actual cash value
Extended Coverage Perils - ANSWERS✔✔W.C. SHAVVER: Wind, Civil
Commotion, Smoke, Hail, Aircraft, Vehicles, Volcanic Eruption, Explosion, and
Riot
DP-2 - ANSWERS✔✔Broad Form Dwelling Policy: Provides replacement cost
coverage on dwellings & buildings on a "named peril" basis, contents are actual
cash value
Uninsurable (excluded) losses - ANSWERS✔✔Under the open- peril insuring
agreement include damage caused by rust, mold, wear and tear, birds, insects,
vermin, domestic animals, and continuous or repeated seepage from water systems
DP-3 - ANSWERS✔✔Special Form Dwelling Policy: Provides replacement cost
coverage on the dwelling and other structures on an "open peril" basis, contents are
on a named peril basis
Exclusions to all Dwelling forms - ANSWERS✔✔Ordinance or law, earth
movement, water damage, power failure, neglect, war, nuclear hazard, intentional
loss, and governmental action
, "Other Insurance" clause of Dwelling Property - ANSWERS✔✔Provides for
distributing insurance among two or more insurers on a pro-rata basis
"Loss Payment" condition - ANSWERS✔✔The loss will be paid within 30 days
following agreement with the insured
Automatic increase in insurance - ANSWERS✔✔An endorsement used to provide
an annual increase of 4%, 6% or 8% in coverage A of the dwelling property forms
Broad Theft coverage - ANSWERS✔✔Covers theft of personal property for any
dwelling policy written on a dwelling, co-op, or condominium unit that is owner-
occupied, or a tenant in an apartment
Dwelling under construction - ANSWERS✔✔Insures the named insured while the
dwelling is under construction. The limit of liability is a percentage of the value of
the partially completed home at any given time
Dwelling: Coverage A - ANSWERS✔✔Dwelling
Dwelling: Coverage B - ANSWERS✔✔Other Structures
Dwelling: Coverage C - ANSWERS✔✔Personal Property
Dwelling: Coverage D - ANSWERS✔✔Fair Rental Value
Dwelling: Coverage E - ANSWERS✔✔Additional Living Expense
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