Exam 10: Protecting Your Property

Choose the word or phrase in [ ] which will correctly complete the statement.Select "a" for the first item,"b" for the second item,and "c" if neither item will correctly complete the statement. -An HO-3 policy will protect your property from losses due to [all | listed] perils.

(Short Answer)

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Question 21

Auto medical payments cover:

(Multiple Choice)

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Question 22

HO-4 and HO-6 are for renters and owners of condominiums,respectively.

(True/False)

4.9/5

(75)

Question 23

Your standard homeowner's policy will not include coverage for damage done by:

(Multiple Choice)

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(81)

Question 24

Choose the word or phrase in [ ] which will correctly complete the statement.Select "a" for the first item,"b" for the second item,and "c" if neither item will correctly complete the statement. -The type of car you drive will have [no | a large] effect on the premiums you pay.

(Short Answer)

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(83)

Question 25

Like the standard homeowners' policies,a renters' policy liability coverage includes coverage away from home.

(True/False)

5.0/5

(82)

Question 26

If you have two insurance policies on the same property,the _____ clause explains how the two insurance companies will share the loss.

(Multiple Choice)

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(88)

Question 27

Personal property floaters provide increased coverage for jewelry and other collectable items at an additional premium.

(True/False)

4.9/5

(80)

Question 28

Age of home affects insurance premiums the most.

(True/False)

4.8/5

(69)

Question 29

Property insurance is meant to protect property owners from two basic types of exposures,physical loss of property and loss through depreciation.

(True/False)

4.8/5

(85)

Question 30

A homeowner's policy does not provide protection for the personal property of:

(Multiple Choice)

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Question 31

The principle of indemnity generally limits the amount that the insured may collect to the actual cash value of the property.

(True/False)

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(76)

Question 32

The right of _____ gives the insurer the right to recover its costs from the at-fault party after the company has paid a claim to its insured.

(Multiple Choice)

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Question 33

In order to collect under uninsured motorists coverage,three specific conditions must be in effect.They are:

(Multiple Choice)

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(76)

Question 34

Nancy's house has been completely destroyed by fire.Prior to the accident,the house had a value of $100,000.Nancy had two separate policies totaling $60,000 each.She may collect $60,000 from each insurance company.

(True/False)

4.9/5

(80)

Question 35

A claims adjustor may work for:

(Multiple Choice)

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(71)

Question 36

Choose the word or phrase in [ ] which will correctly complete the statement.Select "a" for the first item,"b" for the second item,and "c" if neither item will correctly complete the statement. -Actual cash value (ACV)is calculated by subtracting depreciation from the [purchase price | replacement cost] of an item.

(Short Answer)

5.0/5

(70)

Question 37

A personal property floater and a personal liability umbrella policy offer similar coverage.

(True/False)

4.7/5

(71)

Question 38

A liability suit could result when:

(Multiple Choice)

4.9/5

(77)

Question 39

The Right of Subrogation allows the insurer to get reimbursed for claims paid.

(True/False)

4.9/5

(81)

Question 40

Showing 21 - 40 of 189

Choose the word or phrase in [ ] which will correctly complete the statement.Select "a" for the first item,"b" for the second item,and "c" if neither item will correctly complete the statement. -An HO-3 policy will protect your property from losses due to [all | listed] perils.

Auto medical payments cover:

HO-4 and HO-6 are for renters and owners of condominiums,respectively.

Your standard homeowner's policy will not include coverage for damage done by:

Choose the word or phrase in [ ] which will correctly complete the statement.Select "a" for the first item,"b" for the second item,and "c" if neither item will correctly complete the statement. -The type of car you drive will have [no | a large] effect on the premiums you pay.

Like the standard homeowners' policies,a renters' policy liability coverage includes coverage away from home.

If you have two insurance policies on the same property,the _____ clause explains how the two insurance companies will share the loss.

Personal property floaters provide increased coverage for jewelry and other collectable items at an additional premium.

Age of home affects insurance premiums the most.

Property insurance is meant to protect property owners from two basic types of exposures,physical loss of property and loss through depreciation.

A homeowner's policy does not provide protection for the personal property of:

The principle of indemnity generally limits the amount that the insured may collect to the actual cash value of the property.

The right of _____ gives the insurer the right to recover its costs from the at-fault party after the company has paid a claim to its insured.

In order to collect under uninsured motorists coverage,three specific conditions must be in effect.They are:

Nancy's house has been completely destroyed by fire.Prior to the accident,the house had a value of $100,000.Nancy had two separate policies totaling $60,000 each.She may collect $60,000 from each insurance company.

A claims adjustor may work for:

A personal property floater and a personal liability umbrella policy offer similar coverage.

A liability suit could result when:

The Right of Subrogation allows the insurer to get reimbursed for claims paid.

Understanding the Financial Planning Process

Using Financial Statements and Budgets

Preparing Your Taxes

Managing Your Cash and Savings

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Insuring Your Health

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds

Planning for Retirement

Preserving Your Estate

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