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.1779:1779 -The personal property of your [boarder | visiting mother-in-law] would be covered by your HO policy.

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 -A HO-3 policy will protect your property from losses due to [all | listed] perils.

State financial responsibility laws require only auto liability insurance.

Your homeowner's policy will pay for damage to the neighbor's property when your 10 year old son throws a rock through her picture window.

The minimum limit for personal umbrella policies is generally $1,000,000.

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

Liability coverage provides payment to the

The no-fault automobile insurance movement has had a major effect on auto insurance premiums.

The principle of indemnity would prevent:

You would be considered to be negligent when you,a dependent,or another named insured's action causes harm or property loss.

The condominium owner would choose a ____ policy.

The advisable dollar limit for any one auto accident is $250,000.

After packing up to return home for the holidays after the fall semester,Peter 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 damages to his pickup would be covered by

Earthquakes are covered under most homeowners policies.

Factors that affect home insurance costs include:

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.

The principle of ____ states that an insured should not be compensated by an insurance company in an amount exceeding the economic loss.

The form of homeowner's insurance that is incorrectly paired with the insured is

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 professional designation you want your property insurance agent to have is the [ACLU | CPCU].

Homeowner policy forms are fairly standardized from one company to another.