Question 1

While you were away on winter vacation,there was a severe snowstorm that caused your roof to cave in causing a $20,000 loss.Your H0-2 policy will cover this loss.

Accepted Answer

A) True 
 B)False

Question 2

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.1779:1779
-The theft of your favorite jacket from your locked car [would be | would not be] taken care of by your renter's policy.

Accepted Answer

The answer of Choose the word or phrase in [...

Question 3

While you were away on your summer vacation,raccoons took up residence in your attic.They did $5,000 damage.Your H0-2 policy will cover this loss.

Accepted Answer

A) True 
 B)False

Question 4

Premium discounts may result from

Accepted Answer

A)  safe driving record and prompt premium payment. 
B)  good grades and long-term employment. 
C)  multiple auto ownership and good credit rating. 
D)  safe driving record and good grades. 
E)  long-term employment and prompt payment of traffic tickets. 
A)  safe driving record and prompt premium payment. 
B)  good grades and long-term employment. 
C)  multiple auto ownership and good credit rating. 
D)  safe driving record and good grades. 
E)  long-term employment and prompt payment of traffic tickets.

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

After packing up to return home for the holidays after the fall semester,Tex stopped at Double T bookstore to sell textbooks.After collecting $25,he headed back to his pickup truck only to find a broken window,the truck broken into,and all his suitcases and personal property gone.The loss of his personal property and suitcases would be covered by

Accepted Answer

A)  umbrella liability insurance. 
B)  comprehensive (other than collision) auto coverage. 
C)  property damage liability auto coverage. 
D)  property damage to the property of others (homeowners' coverage). 
E)  personal property off premises (homeowners' coverage). 
A)  umbrella liability insurance. 
B)  comprehensive (other than collision) auto coverage. 
C)  property damage liability auto coverage. 
D)  property damage to the property of others (homeowners' coverage). 
E)  personal property off premises (homeowners' coverage).

Question 7

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.1779:1779
-The advisable dollar limit for any one auto accident is [$100,000 | $300,000].

Accepted Answer

The answer of Choose the word or phrase in [...

Question 8

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.1779:1779
-The factor that is likely to have the greatest effect on your automobile insurance is your [driving record | address].

Accepted Answer

The answer of Choose the word or phrase in [...

Question 9

Protection for personal property both at home and away from home is a provision of the homeowners' policy.

Accepted Answer

A) True 
 B)False

Question 10

Kevin,who has liability limits of $20,000/$40,000/$20,000 and a $500 collision deductible,is involved in an accident.Due to his negligence he runs into a Rolls Royce.Three people sustained bodily injuries in the Rolls Royce.The driver's injuries were worth $1,000,000,a passenger received injuries worth $12,500,and another passenger received injuries of $7,100.How much will the PAP pay for these bodily injuries?

Accepted Answer

A)  $20,000 
B)  $40,000 
C)  $39,600 
D)  $39,100 
E)  Some other amount 
A)  $20,000 
B)  $40,000 
C)  $39,600 
D)  $39,100 
E)  Some other amount

Question 11

You will insure your house for $90,000.The premium on an HO-3 policy will be greater than that of an HO-2 policy.

Accepted Answer

A) True 
 B)False

Question 12

Which Homeowners' policy is best suited for a resident of a rented apartment to cover that person's personal property?

Accepted Answer

A)  HO-3 
B)  HO-4 
C)  HO-5 
D)  HO-8 
E)  A Homeowners' policy will not apply since the real estate involved is not owned by the insured. 
A)  HO-3 
B)  HO-4 
C)  HO-5 
D)  HO-8 
E)  A Homeowners' policy will not apply since the real estate involved is not owned by the insured.

Question 13

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.1779:1779
-You use a small building on your property to manufacture Widgets.This building [will | will not] be covered by your standard HO policy.

Accepted Answer

The answer of Choose the word or phrase in [...

Question 14

Section II of the homeowner's insurance contract covers

Accepted Answer

A)  libel. 
B)  contractual wrongdoing. 
C)  the house and contents. 
D)  liability of the insured. 
E)  none of these. 
A)  libel. 
B)  contractual wrongdoing. 
C)  the house and contents. 
D)  liability of the insured. 
E)  none of these.

Question 15

A personal liability umbrella policy typically includes coverage for auto related liability losses in excess of the limits purchased in a personal auto policy.

Accepted Answer

A) True 
 B)False

Question 16

Actual cash value provides coverage at the current market value of your property.

Accepted Answer

A) True 
 B)False

Question 17

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.1779:1779
-[Negligence | Indemnity] is the failure to act in a reasonable manner or take necessary steps to protect others from harm.

Accepted Answer

The answer of Choose the word or phrase in [...

Question 18

Maximum liability policy limits are determined by

Accepted Answer

A)  state law. 
B)  auto type. 
C)  the insured's choice. 
D)  court proceedings. 
E)  none of these. 
A)  state law. 
B)  auto type. 
C)  the insured's choice. 
D)  court proceedings. 
E)  none of these.

Question 19

Covered liability perils do not include claims for libel,slander,or character defamation.

Accepted Answer

A) True 
 B)False

Question 20

Homeowners' insurance will cover which of the following?

Accepted Answer

A)  The meter-reader was bitten by Cujo, your poodle. 
B)  Your attached garage destroyed by Hurricane Ivan. 
C)  Your new Pontiac Transport Mini-Van parked inside the garage. 
D)  a, b, and c 
E)  a and b 
A)  The meter-reader was bitten by Cujo, your poodle. 
B)  Your attached garage destroyed by Hurricane Ivan. 
C)  Your new Pontiac Transport Mini-Van parked inside the garage. 
D)  a, b, and c 
E)  a and b

While you were away on winter vacation,there was a severe snowstorm that caused your roof to cave in causing a $20,000 loss.Your H0-2 policy will cover this loss.

While you were away on your summer vacation,raccoons took up residence in your attic.They did $5,000 damage.Your H0-2 policy will cover this loss.

Premium discounts may result from

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

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.1779:1779 -The advisable dollar limit for any one auto accident is [$100,000 | $300,000].

Protection for personal property both at home and away from home is a provision of the homeowners' policy.

You will insure your house for $90,000.The premium on an HO-3 policy will be greater than that of an HO-2 policy.

Which Homeowners' policy is best suited for a resident of a rented apartment to cover that person's personal property?

Section II of the homeowner's insurance contract covers

A personal liability umbrella policy typically includes coverage for auto related liability losses in excess of the limits purchased in a personal auto policy.

Actual cash value provides coverage at the current market value of your property.

Maximum liability policy limits are determined by

Covered liability perils do not include claims for libel,slander,or character defamation.

Homeowners' insurance will cover which of the following?

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

Filters

Exam 10: Protecting Your Property

While you were away on winter vacation,there was a severe snowstorm that caused your roof to cave in causing a $20,000 loss.Your H0-2 policy will cover this loss.

While you were away on your summer vacation,raccoons took up residence in your attic.They did $5,000 damage.Your H0-2 policy will cover this loss.

Premium discounts may result from

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

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.1779:1779 -The advisable dollar limit for any one auto accident is [$100,000 | $300,000].

Protection for personal property both at home and away from home is a provision of the homeowners' policy.

You will insure your house for $90,000.The premium on an HO-3 policy will be greater than that of an HO-2 policy.

Which Homeowners' policy is best suited for a resident of a rented apartment to cover that person's personal property?

Section II of the homeowner's insurance contract covers

A personal liability umbrella policy typically includes coverage for auto related liability losses in excess of the limits purchased in a personal auto policy.

Actual cash value provides coverage at the current market value of your property.

Maximum liability policy limits are determined by

Covered liability perils do not include claims for libel,slander,or character defamation.

Homeowners' insurance will cover which of the following?

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

Filters