Question 1

Which of the following statements about the personal liability coverage (Coverage

Accepted Answer

A) Coverage is written on an accident basis. 
B) Coverage is provided for bodily injury liability. 
C) Coverage is provided for business and professional liability. 
D) Coverage is provided for personal injury liability. 
E) of an unendorsed homeowners policy is true? 
A) Coverage is written on an accident basis. 
B) Coverage is provided for bodily injury liability. 
C) Coverage is provided for business and professional liability. 
D) Coverage is provided for personal injury liability. 
E) of an unendorsed homeowners policy is true?

Question 2

John purchased an unendorsed Homeowners 3 policy.The coverage will expire next month.Which of the following changes will lower the premium that John will pay?

Accepted Answer

A) reducing the deductible 
B) adding a replacement cost endorsement for personal property 
C) switching to an HO-2 policy 
D) adding a personal injury endorsement 
A) reducing the deductible 
B) adding a replacement cost endorsement for personal property 
C) switching to an HO-2 policy 
D) adding a personal injury endorsement

Question 3

Which of the following statements about buying homeowners insurance is true?

Accepted Answer

A) There is no reason to carry insurance for more than 80 percent of a dwelling's replacement cost. 
B) The deduction for depreciation will be increased if a personal property replacement cost endorsement is purchased. 
C) Premiums often can be reduced substantially by selecting a higher deductible. 
D) There is little reason to compare cost since the lack of competition results in little price variation among companies. 
A) There is no reason to carry insurance for more than 80 percent of a dwelling's replacement cost. 
B) The deduction for depreciation will be increased if a personal property replacement cost endorsement is purchased. 
C) Premiums often can be reduced substantially by selecting a higher deductible. 
D) There is little reason to compare cost since the lack of competition results in little price variation among companies.

Question 4

Which of the following statements regarding Section II conditions under the homeowners policy is true?

Accepted Answer

A) Other insurance is handled on a pro rata basis. 
B) Under no circumstances may the insured bring a lawsuit against the insurer. 
C) The liability limit is the same regardless of the number of persons injured in a covered occurrence. 
D) There is no requirement for the insured to submit written notification of a possible claim to the insurer. 
A) Other insurance is handled on a pro rata basis. 
B) Under no circumstances may the insured bring a lawsuit against the insurer. 
C) The liability limit is the same regardless of the number of persons injured in a covered occurrence. 
D) There is no requirement for the insured to submit written notification of a possible claim to the insurer.

Question 5

Which of the following statements about the additional coverage for damage to property of others in Section II of the homeowners policy is true?

Accepted Answer

A) The maximum amount of coverage is $25,000 per occurrence. 
B) Payments are made on the basis of the replacement cost of the damaged property. 
C) There is coverage for property damage arising out of a business engaged in on a full-time basis by an insured. 
D) There is coverage for intentional property damage by any insured who is a teenager. 
A) The maximum amount of coverage is $25,000 per occurrence. 
B) Payments are made on the basis of the replacement cost of the damaged property. 
C) There is coverage for property damage arising out of a business engaged in on a full-time basis by an insured. 
D) There is coverage for intentional property damage by any insured who is a teenager.

Which of the following statements about the personal liability coverage (Coverage

John purchased an unendorsed Homeowners 3 policy.The coverage will expire next month.Which of the following changes will lower the premium that John will pay?

Which of the following statements about buying homeowners insurance is true?

Which of the following statements regarding Section II conditions under the homeowners policy is true?

Which of the following statements about the additional coverage for damage to property of others in Section II of the homeowners policy is true?

Risk and Its Treatment

Insurance and Risk

Introduction to Risk Management

Advanced Topics in Risk Management

Types of Insurers and Marketing Systems

Insurance Company Operations

Financial Operations of Insurers

Government Regulation of Insurance

Fundamental Legal Principles

Analysis of Insurance Contracts

Life Insurance

Life Insurance Contractual Provisions

Buying Life Insurance

Annuities and Individual Retirement Accounts

Health-Care Reform; Individual Health Insurance Coverages

Employee Benefits: Group Life and Health Insurance

Employee Benefits: Retirement Plans

Social Insurance

The Liability Risk

Homeowners Insurance,section I

Auto Insurance

Auto Insurance and Society

Other Property and Liability Insurance Coverages

Commercial Property Insurance

Commercial Liability Insurance

Crime Insurance and Surety Bonds

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Exam 21: Homeowners Insurance,section II

Which of the following statements about the personal liability coverage (Coverage

John purchased an unendorsed Homeowners 3 policy.The coverage will expire next month.Which of the following changes will lower the premium that John will pay?

Which of the following statements about buying homeowners insurance is true?

Which of the following statements regarding Section II conditions under the homeowners policy is true?

Which of the following statements about the additional coverage for damage to property of others in Section II of the homeowners policy is true?

Risk and Its Treatment

Insurance and Risk

Introduction to Risk Management

Advanced Topics in Risk Management

Types of Insurers and Marketing Systems

Insurance Company Operations

Financial Operations of Insurers

Government Regulation of Insurance

Fundamental Legal Principles

Analysis of Insurance Contracts

Life Insurance

Life Insurance Contractual Provisions

Buying Life Insurance

Annuities and Individual Retirement Accounts

Health-Care Reform; Individual Health Insurance Coverages

Employee Benefits: Group Life and Health Insurance

Employee Benefits: Retirement Plans

Social Insurance

The Liability Risk

Homeowners Insurance,section I

Auto Insurance

Auto Insurance and Society

Other Property and Liability Insurance Coverages

Commercial Property Insurance

Commercial Liability Insurance

Crime Insurance and Surety Bonds

Filters