Guarantee ExamFX, Idaho Personal Lines Simulation UPDATED Exam Questions and CORRECT Answers
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Idaho Personal Lines Simulation
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Idaho Personal Lines Simulation
Guarantee ExamFX, Idaho Personal Lines
Simulation UPDATED Exam Questions and
CORRECT Answers
In the last 72 hours, there were 3 instances of volcanic eruptions that damaged a property
covered by a dwelling policy. How many deductibles will the insured have to pay before the
policy covers t...
Guarantee ExamFX, Idaho Personal Lines
Simulation UPDATED Exam Questions and
CORRECT Answers
In the last 72 hours, there were 3 instances of volcanic eruptions that damaged a property
covered by a dwelling policy. How many deductibles will the insured have to pay before the
policy covers the damages caused by the eruptions?
1. Zero
2. One
3. Two
4. Three - Correct Answer- one
In a personal auto policy (PAP), a covered auto includes all of the following EXCEPT
1. A trailer owned by the insured.
2. A farm implement being towed behind the insured's pickup.
3. A nonowned temporary substitute vehicle.
4. A van used in the delivery business. - Correct Answer- A van used in the delivery business.
Which of the following would NOT be covered as a loss under Coverage D of a homeowners
policy?
1. An insured has an apartment in his home. The tenant's negligence started a fire, and the
apartment was not fit to live in for 4 months while repairs were being completed.
2. After a fire in a building next to the insured's home, the insured could not occupy his home,
and had to stay at a motel for one week.
3. An insured's home is damaged by fire. The insured incurs expenses for living in a motel
and having meals in a restaurant while repairs are made.
4. An insured leased a dwelling for 5 years. Two years later, the property owner died, and the
new property owners wanted to make the property their principal residence, so the lease was
canceled. - Correct Answer- An insured leased a dwelling for 5 years. Two years later, the
property owner died, and the new property owners wanted to make the property their
principal residence, so the lease was
canceled.
,An insurance policy form that lists specific covered perils provides
1. Special peril coverage.
2. Blanket coverage.
3. Named peril coverage.
4. Open peril coverage. - Correct Answer- Named peril coverage.
An insured is injured while driving his own car. Which of the following coverages will pay
for the loss?
1. Part A-Liability
2. Part B - Medical Payments
3. Part C - Uninsured Motorist
4. Part D-Damage to Your Auto - Correct Answer- Part B - Medical Payments
An insured believes that his insurer is not properly fulfilling its obligations regarding his
policy. What section of the policy will give the insured more information about specific
duties of the insurer?
1. Obligations
2. Conditions
3. Endorsements
4. Definitions - Correct Answer- Conditions
*A trucking company has a $1 million umbrella policy in place. The businessowner agrees to
maintain a 200/500/100 limit on auto liability, and a personal liability of $400,000. After a car
accident, the business is sued. Injuries are awarded to a single injured party in the amount of
$300,000. It turned out that the business actually carried only 100/250/50 auto liability limits.
What is the total amount the umbrella policy will pay?
1. $100,000
2. $50,000
3. $200,000
4. $300,000 - Correct Answer- $100,000
If an insurance policy has the additional coverage provision, how does it affect the policy
premium?
,1. Premium will be calculated on a pro rata basis based on the amount of additional coverage.
2. There is no additional premium.
3. Premium will be recalculated when a specific loss covered by this provision occurs.
4. Additional premium will be assessed. - Correct Answer- There is no additional premium.
An insured has $5,000 of medical coverage under a personal auto policy at the time of a
covered accident. The insured and 3 passengers are injured. The insured's medical expenses
are $8,000. The first passenger's total $4,000; the second passenger's total $6,500; and the
third passenger's total $1,200. How much will the policy pay under the medical payments
coverage?
1. $5,000
2. $8,000
3. $15,200
4. $19,700 - Correct Answer- $15,200
Each of the following may be insured under an HO-3 homeowners policy EXCEPT
1. The owner-occupant of a condominium unit.
2. An occupant of a dwelling under a life estate arrangement when dwelling coverage is at
least 80% of the current replacement cost.
3. One co-owner when each distinct portion of a two-family dwelling is occupied by co-
owners.
4. The intended owner-occupant of a dwelling under construction. - Correct Answer- The
owner-occupant of a condominium unit.
The declarations section in a homeowners policy provides all of the following information
EXCEPT
1. Basic underwriting information.
2. Amount of deductible applied to a loss.
3. Insured locations.
4. Policy exclusions. - Correct Answer- Policy exclusions.
What part of the insurance contract describes the covered perils and the nature of coverage of
the contractual agreement between the insurer and the insured?
1. Conditions
An insured is at fault in an auto accident, damaging the insured's own car. The damage to the
car is covered by
1. The other driver's liability coverage.
2. The insured's comprehensive coverage.
3. Uninsured motorist coverage.
4. The insured's collision coverage. - Correct Answer- The insured's collision coverage.
An insured has decided to never drive another vehicle and wants to transfer his auto
insurance policy to his wife. What does the insured need to transfer the policy?
1. The written consent of all other insureds covered by the policy
2. The written consent of the insurer
3. An auto policy cannot be transferred.
4. Nothing, because the wife is automatically included as an insured - Correct Answer- The
written consent of the insurer
Which of the following risks would be eligible for coverage under a dwelling policy form?
1. A single-family dwelling that is located on farm premises
2. A duplex that is occupied by two families, each of which have a bedroom rented to a
boarder
3. A single-family dwelling occupied by a single person who operates a business of buying
and selling firearms in the basement
4. A single-family dwelling that contains a beauty shop that employs three full-time operators
- Correct Answer- A duplex that is occupied by two families, each of which have a bedroom
rented to a boarder
What does HO personal property coverage NOT cover?
1. The resident's son's personal property
2. Personal property of roomers not related to the insured
3. The spouse's personal property
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