Which of the following loss conditions gives the insurer the right to repair or replace the damaged property with material or property of like kind within 30 days of the insured's statement of loss?

Which of the following is NOT excluded in all dwelling policies?

Which of the following losses is NOT excluded by Coverage L?

Which of the following properties would not be eligible for coverage under a dwelling policy?

Which of the following statements regarding other endorsements that may be used in a dwelling policy is NOT correct?

Which of the following is covered in the DP-1 —dwelling basic form?

Under Coverage M- medical payments to others, which of the following statements is INCORRECT?

Nick and Melissa bought a homeowners policy and due to their special needs they attached an endorsement to the policy. The endorsement will override any exclusions that apply to Nick's business activities conducted at their home. Which of the following endorsements did they purchase?

Supplementary payments of the homeowners policy Section Il are paid

Which of the following pays all necessary medical expenses to others incurred within 3 years of an accident that causes bodily injury?

What are the main advantages to the insured if the homeowners policy is a package policy?

Which of the following is the correct formula used to calculate actual cash value?

All of the following statements regarding additional coverages in all homeowners forms are correct EXCEPT

ABC insurance company is cancelling a policy that has been in effect for 90 days due to a nonpayment of premium. How many days' notice does ABC insurance company have to give the insured?

Under the cancellation condition, the insurer can cancel for any reason with 10 days' written notice to the insured during

When an insured adds a scheduled personal property endorsement to a homeowners policy

Which of the following is NOT covered if the insured has broad peril coverage?

All of the following are eligible for coverage under a homeowners policy EXCEPT

Which of the following Section Il liability endorsements provides coverage for business conducted away from the residence premises?

Josephine has a $100,000 loss to her dwelling. She has insurance greater that 80% of the replacement cost and also agrees to replace the damaged property. Which of the following explains how the insurer will pay the HO-2 claim?

All of the homeowners forms provide identical

The standard mortgage clause specifies the rights and duties of the mortgagee which include

The insured is renting a residential condominium. If the condominium owner requires all her tenants to buy insurance, which homeowners policy would the insured purchase?

All of the following statements about Coverage A in a homeowners policy under Section I are true EXCEPT

Which of the following individuals would NOT be insured in a homeowners policy?

Which of the following additional coverages is only included in certain homeowners forms?

The insurance limit for Coverage B- other structures is

Which of the following losses would be 100% covered under Coverage C- personal property?

Which of the following is NOT a common exclusion that applies to Coverage E and F in a homeowners policy?

All of the following statements about Coverage E-personal liability are true EXCEPT

Which of the following coverage applies to the personal property owned or used by an insured and is included in all homeowners policies?

Which of the following is NOT covered if the insured has basic peril coverage?

Heather decided that she wants to have a second car to drive in the winter. She buys a new car and automatically has the same auto coverage as her other car. How many days does Heather have to notify the insurance company if she wants her coverage on the new car to continue?

Which statement regarding transportation expenses coverage is FALSE?

The personal auto policy includes both property and liability coverages. Which of the following provides property coverage?

The personal auto policy uses the words you and your in the declarations. This is referring to

Nia accidentally closes her car door on her finger. Which coverage, if any, in the personal auto policy would cover the expenses arising out of this injury??

Participating insurance companies have agreed to share the risk of insuring individuals with poor driving records. This voluntary agreement is called

According to the out-of-state coverage provision in a personal auto policy, while temporarily driving in another state the insurer will pay

ABC Insurance Company and Mr. Smith, the insured, cannot agree on a claim settlement amount, so they each hire an appraiser. How does the dispute get resolved?

Which of the following coverages pays the difference between the insured's actual damages for bodily injury and the amount of liability insurance that the insured could collect from the at-fault driver?

Which of the following personal auto policy endorsements may be issued to someone who does not own a vehicle but drives rented autos?

All of the following statements about Part A liability coverage are correct EXCEPT

Part D - coverage for damage to your auto covers all of the following EXCEPT

All of the following statements about the term covered auto are correct EXCEPT

Which of the following would be covered under collision coverage?

The term occupying includes all of the following EXCEPT

Samuel and his wife retired and bought a 40-foot boat for $200,000. Which of the following policies are they most likely to purchase in order to insure this boat?

The personal articles floater provides coverage for all newly acquired property, except fine art, for up to

An insured has $300,000 of primary insurance and excess liability coverage of $1,000,000. The excess liability policy has a self insured retention limit of $10,000. If the insured has a $350,000 claim that is covered by both the primary insurance and excess liability policy, how much will the excess liability policy pay?

All of the following statements about mobile home insurance are correct EXCEPT

Which of the following statements does NOT accurately describe a personal umbrella policy?

Which of the following is NOT covered under flood insurance?

All of the following statements about flood insurance coverage are correct EXCEPT

All of the following items are excluded from the open peril personal inland marine for EXCEPT

Under the regular program, what are the maximum limits for flood insurance coverage on a residential building?

Self-insured retention limits work like

Which of the following statements regarding the National Flood Insurance Program (NFIP) is INCORRECT?

The transfer of rights and duties under this policy condition is sometimes referred to as

The common policy declarations include all of the following EXCEPT

All of the following statements about the commercial package policy (CPP) are correct ЕХСЕРТ

Which of the following is an example of a commercial casualty form that can be included in a CPP?

Which of the following common policy conditions states that only the first-named insured is authorized to make changes in the terms of the policy with the consent of the insurance company?

Which of the following is a common commercial property coverage form?

In order to call a CPP a package policy, it must include

The inspections and surveys condition gives the insurance company the right to do all of the following EXCEPT

Which of the following is found in the common policy conditions for a CPP?

Which of these conditions describes how losses will be settled by the insurance company?

Which of the following coverage extensions provides up to $2,500 for coverage of personal effects of the named insured, employees, and others?

Joe's Marina has fluctuating inventory and property that often moves from one location to another. In order to avoid any problems with underinsurance or overinsurance, Joe's Marina should purchase which of the following forms?

Which of the following is an example of real property?

The condominium commercial unit-owners coverage form covers all of the following EXCEPT

Which of the following would NOT be covered under a builders risk coverage form?

Which of the following forms provides no reimbursement for lost business income but reimburses the insured for extra expenses to remain in operation?

Which of the following perils are excluded in the broad cause of loss form?

Which commercial cause of loss form provides open peril coverage?

Fred's Bike Shop wants insurance to cover damage to property of other's while in his control, but only if he is legally liable for the damage. Which of the following coverage forms should he purchase?

Which of the following statements about additional coverages found in the business and personal property coverage form is CORRECT?

The builders risk coverage form requires that the insured has limits equal to

All of the following statements about the vacancy condition are true EXCEPT

The transfer of recovery rights against others is found in the commercial property condition form and is also known as

Which of the following optional coverages limits reimbursement for extra expenses or loss of business income to no more than the amount of loss incurred during the first 120 days following the direct loss?

The liberalization condition will automatically apply to the coverage if the revision is adopted by the insurer

All of the following are excluded from coverage under the building and personal property form EXCEPT

Regina chose to add the outdoor property coverage extension to her building and personal property coverage plan. There was a horrible storm that destroyed her fence and the estimate to repair it is $3,000. What amount will the insurer pay to Regina for this damage?

All of the following are coverage forms that may be found in a commercial property coverage policy EXCEPT

Alan owns a landscaping business in which a majority of his personal property is stored off of the premise. Which of the following items would NOT be covered under the building and personal property form?

Which of the following coverage forms is designed to cover dealers of mobile and construction equipment?

All of the following are types of commercial inland marine coverage forms EXCEPT

Sandra, a photographer who also owns a camera repair shop, has the commercial articles coverage with a $100,000 policy limit. Sandra has a $15,000 loss to brand new equipment that she has not yet insured. She submits her claim to the insurer within 2 days after the loss. How much will the insurer pay?

Which of the following forms is designed for companies that transport their own goods and provides direct damage coverage instead of liability coverage?

In a commercial inland marine policy, the property's value is determined

Who gets paid in a bailee policy?

Which of the following is NOT a common feature of inland marine coverages?

Bob's Bait and Tackle has one or two large shipments each year he needs to insure. Which of the following property in transit policies should he purchase?

All of the following categories are covered by commercial inland marine insurance EXCEPT

Brandon and Tiffany leave their wedding attire at local dry cleaners to be cleaned before their big day. In a bailee policy, which of the following statements is CORRECT?

The insured's home is severely damaged by a covered loss and must stay in a hotel for a month. Which coverage will pay for the hotel expenses?

Coverage — medical payments to others pays medical expenses incurred within how many years of the accident or injury regardless of who is at fault?

Which of the following coverages covers farm personal property on a blanket basis on or away from the insureds location?