Question 1

Jordan's house and property has a market value of $450,000.She would have to carry ________ of insurance to meet the coinsurance provisions.

Accepted Answer

A)  $450,000
B)  $400,000
C)  $360,000
D)    $$350,000  C

Question 2

Which of the following will most likely pay the least for automobile insurance,assuming they all drive identical cars?

Accepted Answer

A)  A 29-year-old woman with a good credit score and driving record
B)  A 55-year-old woman with two drunk driving arrests
C)  A 32-year-old married man with bad credit and a bad driving record
D)  A 20-year-old man who drives 50,000 miles per year and lives in a big city A

Question 3

Driving at 55 miles per hour for five seconds-the minimum amount of time that texting takes your attention off of the road-you'll travel the length of a football field without looking.

Accepted Answer

A) True 
 B)False  True

Question 4

The first homeowner's policy in the United States was written in 1735 in what city?

Accepted Answer

A)  New York
B)  San Francisco
C)  Charleston,S.C.
D)  Chicago

Question 5

Most companies allow six endorsements or supplemental coverages to meet their customers' needs.Name and describe the six.Which one is unique and stands apart from the others?

Accepted Answer

The answer of Most companies allow six endorsements or supplemental...

Question 6

Explain Section I: Property Coverage for HO-2 and HO-3 policies.

Accepted Answer

The answer of Explain Section I: Property Coverage for HO-2...

Question 7

Outline the considerations for choosing the amount of homeowner's insurance you need.

Accepted Answer

The answer of Outline the considerations for choosing the amount...

Question 8

You have recently inherited a sum of money.You are purchasing an old Victorian home which was built in 1856.The type of insurance needed on the house would be

Accepted Answer

A)  HO-1.
B)  HO-4.
C)  HO-6.
D)  HO-8.

Question 9

Rosemary was hit by another vehicle on the way home from work.She believes the other driver was under the influence of alcohol.Rosemary is not within her rights to demand that the other driver take an alcohol test.

Accepted Answer

A) True 
 B)False

Question 10

HO-6 is for?

Accepted Answer

A)  Home Owners
B)  Condominiums
C)  Renters
D)  Older Homes

Question 11

To make sure all of your personal property is paid for in the event of a loss,it is a good idea to make an inventory of all household contents.Tell what should be included.

Accepted Answer

The answer of To make sure all of your personal...

Question 12

What determines the cost of your homeowner's insurance?

Accepted Answer

A)  The location of your home
B)  The type of structure
C)  The level of coverage and policy type
D)  All of the above

Question 13

While you were visiting a friend,someone robbed their apartment and stole your laptop computer.Unfortunately,they did not have renter's insurance.Where can you look for help to replace your computer?

Accepted Answer

A)  The landlord's loss of use coverage
B)  Your homeowner's insurance policy
C)  Your friend through small claims court
D)  None of the above are correct.

Question 14

Wilber Robinson found out that his homeowner's coverage comes in handy when a neighbor steps on a garden rake and it flips up and causes a concussion.Josh did just that and spent two weeks in the hospital running up a $23,000 bill.Josh was covered under

Accepted Answer

A)  section II medical payments.
B)  section II personal liability.
C)  section I loss of use.
D)  added liability insurance.
E)  the 80 percent rule.

Question 15

Uninsured motorists coverage

Accepted Answer

A)  can be purchased by uninsured drivers after an accident to retroactively cover their losses.
B)  will not provide coverage if the other driver's insurance company is insolvent.
C)  will cover injuries caused by a hit-and-run driver.
D)  All of the above are true.

Question 16

Valerie was very angry at her soon to be exhusband and when she found his expensive sports car at his girlfriend's home she rammed into it with her pickup truck.Will her insurance policy cover the damage to her vehicle?

Accepted Answer

A)  Yes,she has full coverage.
B)  No,one of the exclusions on her policy says it will not cover if the damage was intentional.

Question 17

You made a list of things to do when involved in an auto accident - but you lost it.You have just been in a wreck with another vehicle.What are five important things to do now?

Accepted Answer

The answer of You made a list of things to...

Question 18

The recommended limit on both collision and comprehensive physical coverage damage is the cash value of your automobile.

Accepted Answer

A) True 
 B)False

Question 19

With PAP coverage,if you're driving a car you don't own,your medical expenses won't be covered but those of other injured passengers or pedestrians will be.

Accepted Answer

A) True 
 B)False

Question 20

What type of auto insurance protects you in the case of accident regardless of who caused the accident?

Accepted Answer

A)  No-cause insurance
B)  No-fault insurance
C)  No-litigation insurance
D)  Cause-free insurance
E)  None of the above

Exam 10: Property and Liability Insurance

Jordan's house and property has a market value of $450,000.She would have to carry ________ of insurance to meet the coinsurance provisions.

Which of the following will most likely pay the least for automobile insurance,assuming they all drive identical cars?

Driving at 55 miles per hour for five seconds-the minimum amount of time that texting takes your attention off of the road-you'll travel the length of a football field without looking.

The first homeowner's policy in the United States was written in 1735 in what city?

Most companies allow six endorsements or supplemental coverages to meet their customers' needs.Name and describe the six.Which one is unique and stands apart from the others?

Explain Section I: Property Coverage for HO-2 and HO-3 policies.

Outline the considerations for choosing the amount of homeowner's insurance you need.

You have recently inherited a sum of money.You are purchasing an old Victorian home which was built in 1856.The type of insurance needed on the house would be

Rosemary was hit by another vehicle on the way home from work.She believes the other driver was under the influence of alcohol.Rosemary is not within her rights to demand that the other driver take an alcohol test.

HO-6 is for?

To make sure all of your personal property is paid for in the event of a loss,it is a good idea to make an inventory of all household contents.Tell what should be included.

What determines the cost of your homeowner's insurance?

While you were visiting a friend,someone robbed their apartment and stole your laptop computer.Unfortunately,they did not have renter's insurance.Where can you look for help to replace your computer?

Wilber Robinson found out that his homeowner's coverage comes in handy when a neighbor steps on a garden rake and it flips up and causes a concussion.Josh did just that and spent two weeks in the hospital running up a $23,000 bill.Josh was covered under

Uninsured motorists coverage

Valerie was very angry at her soon to be exhusband and when she found his expensive sports car at his girlfriend's home she rammed into it with her pickup truck.Will her insurance policy cover the damage to her vehicle?

You made a list of things to do when involved in an auto accident - but you lost it.You have just been in a wreck with another vehicle.What are five important things to do now?

The recommended limit on both collision and comprehensive physical coverage damage is the cash value of your automobile.

With PAP coverage,if you're driving a car you don't own,your medical expenses won't be covered but those of other injured passengers or pedestrians will be.

What type of auto insurance protects you in the case of accident regardless of who caused the accident?