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Dwelling Ins
Dwelling Insurance
| Question | Answer |
|---|---|
| Suppose you own a duplex as an investment that you rent to two separate families. Which of the following policy types would your duplex be eligible for? | Dwelling |
| A Broad Form Dwelling Policy, with E.C. endorsement, would include coverages for which of the following causes of loss? | Windstorm; Removal |
| Which of the following items is covered under a Dwelling Form Coverage C? | Rowboats and Canoes |
| Under the Dwelling Policy Program, which of the following would be classified as part of the "dwelling"? | Building materials used to repair the dwelling; Equipment used to maintain the dwelling |
| Which of the following DP Forms would be called the Broad Form? | DP-2 |
| Which of the following DP Forms would give you All Risk coverage on the contents? | DP-3 |
| Which of the following DP Forms would give you All Risk coverage on the dwelling? | DP-3 |
| In which of the following DP forms is there no coverage on the dwelling? | DP-4 |
| Which of the following is the coinsurance formula? | Insurance Carried / Insurance Required X Loss = Amount Insurance Company Pays |
| Maxwell owns a Broad Named Perils policy that covers his house for losses caused by falling objects. It is insured for $40,000 and there is a flat $500 deductible. If the house suffers a $30,000 loss as a result of a falling meteor, Maxwell should collect | $29,500 |
| An insured buys a house for $52,000. It is estimated that if the house were totally destroyed, it would cost approximately $47,000 to rebuild because of the condition and age, the depreciated value is $39,000. The replacement cost of the house is | $47,000 |
| When determining the amount required to be coinsured, the second part of the formula in arriving at the claim payment of a dwelling policy is: | Amount carried divided by amount required X Loss = Claim, payment |
| To protect his television set from further damage, the insured, who is covered by a Standard Fire Policy, has removed it from his burning building. Which of the following is applicable? | He would be compensated on the actual cash value of his 2-year-old television set. |
| Bill Jones has insured his house under a Dwelling-Building and Contents Broad Form for $24,000. A windstorm causes $4,000 damage to the building. Replacement cost of the dwelling is $30,000. The insurer will pay? | $4,000 |
Created by:
BGeisert
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