An HO3 provides open peril protection for which of the following?

Which form offers the broadest coverage for homeowners?

Which of the following is covered under an H03?

Which of the following forms is appropriate for the owner of a condominium unit?

Which of the following homeowner’s forms does not cover buildings?

When would interior damage caused by windstorm be covered under homeowner’s insurance?

An insured has a dwelling insured for $36,000 with a deductible of $1,000. A structure located on the same lot ( but not attached to the dwelling ) sustained $40,000 in fire damage. How much will the insured receive?

A homeowner suffered an explosion loss that made the house unfit to live in. The homeowners policy dwelling limit is $225,000 with a $1,000 deductible. A month later, after repairs were complete, the homeowner submitted the following information to the adjuster regarding expenses, and during the time of repair: Normal expenses: Meals $450 Utilities $250 Transportation $300 Housing $1,000 Actual expenses: Meals $900 Utilities $100 Transportation $350 Housing $3,500 How much will the insurer pay under loss of use coverage?

Which of the following would be covered on a homeowner’s policy?

How many days does a homeowner’s insured have to complete a period of loss?

A homeowner must replace or repair property in order to receive replacement cost settlement. However, the insurer will pay replacement cost in a covered loss to buildings or other structures prior to repair or replacement of the loss is less than $2,500 and:

An insurer took salvage after paying $55,000 in a covered fire loss under a homeowner’s policy. The insurer sold the salvage for $10,000 after spending $2,000 in advertising costs. What amount should show up on the insured’s loss history?

An insured who suffered a total loss to the dwelling is required by new building codes to install a sprinkler system when the house is rebuilt. Under which of the following would the cost of the sprinklers be covered?

In an HO3 under the appraisal condition, who decides the amount of loss?

A schedule personal property endorsement is attached to an HO3 form. The endorsement had a jewelry limit of $6,000 and a $500 deductible. A theft occurred and the insured’s proof of loss stated that $7,000 of jewelry was stolen. How much will the insured receive?

A homeowner’s insured wants to add earthquake coverage to good policy. Which of the following would also be covered under the earthquake endorsement?

Under a Farmowner’s policy, which would be the most appropriate coverage for a farm tractor?

Which of the following would not be covered under a farm policy?

What kind of loss or losses can commercial property insurance cover?

What is the broadest commercial causes of loss form?

To calculate a building limit for coinsurance purposes under a commercial property policy, which of the following would not be deducted?

An insured commercial building insured for $500,000 sustains $100,000 in fire damage. Which of the following would not also be covered?

An insured commercial is destroyed by a covered peril. During the rebuilding it is discovered that a sprinkler system will need to be installed due to a change in building codes. Which is correct?

In a commercial property policy, which of the following is not a potential duty of the insured in the event of loss?

When are losses to improvements and betterments on commercial property covered under a tenant’s commercial property policy?

A commercial tenant signed a 10-year lease and immediately added $70,000 worth of improvements and betterments. The tenant purchased commercial property insurance with a limit of $500,000 with a deductible of $1,000. Five years later, a fire destroyed half of the improvements. The landlord paid for the repairs. How much will the tenant’s insurer pay for the loss?

A commercial property policy has a blanket limit of $1,000,000. Three buildings are insured on the policy: building 1 has an ACV of $400,000; building 2 has an ACV of $500,000; building 3 has an ACV of $200,000. A covered total loss to building 2 occurs. Disregarding deductibles, how much will the insured receive?

A commercial insured with a building limit of $200,000 on a building valued at $240,000 suffers a windstorm loss of one-half of the building. Disregarding deductibles, how much will the insured receive?

A manufacturer with a policy limit of $1,000,000 and a deductible of $5,000 has a fire loss that damaged $150,000 worth of inventory. With prior permission of the insurer, the insurer sold some of the mildly damaged inventory for $24,000. How much will the insurer pay for the loss?

A commercial building valued at $500,000 is insured at $300,000 on a policy containing 80% coinsurance clause. How much would be paid on a $200,000 loss? Disregard deductibles.

A commercial building valued at $1,000,000 is insured for $60,000 on a policy containing an 80% coinsurance clause. How much would be paid on a covered $80,000 loss?

Which property coverage form should be used for a building under construction?

A contract to construct a commercial building at a new location has just been agreed to, for an estimated complete value of $1,000,000. To avoid a coinsurance penalty, what limit of builder’s risk coverage should be purchased?

Business income pays for which of the following?

To calculate a business income limit, what time period should be considered?

Extra expenses are covered on a commercial property policy when:

A manufacturing plant with business income and extra expense coverage is highly damaged in a fire. During the reconstruction period, the chief financial officer (who works at the company headquarters which is located four hours away) is required to drive several times to the plant to dig out records and files. He is paid $12,000 in salary for this time period and he submits $2,500 in travel expenses. How much would be covered by business income and extra expense?

Commercial property insurance would exclude which of the following acts of vandalism?

Stock-in-sight should be adjusted by using or inspecting which of the following?

Stock-out-of-sight would not be settled using which of the following?

A commercial insured has purchased an inland marine policy covering a sign, with a limit of $20,000 and a 5% deductible. There was a covered loss of $10,000 to the sign. How much will the insured receive?

Which of the following is not an indirect loss?