1. What type of information would be found in a Renewal Dates
policy's insuring agreement?
Policy limits
Insurer's address
Renewal dates
Location of premises
2. Which of the following is true of dwelling policy cov- Exclusions apply
erage? to all three policy
forms
Exclusions only apply to broad policy forms.
There are no exclusions in basic forms.
Special forms only have special exclusions.
Exclusions apply to all three policy forms.
3. All of the following are considered parts of the policy Provisions
structure EXCEPT
4. First aid costs for others injured on the insured's Are paid in addi-
premises: tion to the liability
limit.
Apply only if the insured is legally liable.
Also cover injuries to the insured's family members.
Are deducted from the liability limit.
Are paid in addition to the liability limit.
5. Which of the following risks is eligible for coverage Condominiums
under a businessowners policy? a)Banks
, Idaho Property Test Review
b)Automobile dealers
c)Bars or taverns
d)Condominiums
6. An insured has a homeowners policy and is required $1,000 to be a
member of the homeowners association in her neighborhood. The
association's community house has burned down, and the insured
has been assessed $1200 for her share of the rebuilding cost. How
much of the assessment will her homeowners policy pay? a)None
b)$500
c)$1,000
d)$1,200
7. What is the maximum number of roomers or boarders 5 for properties
insured under the dwelling policy? a)2
b) 3
c)5
d) 6
8. A type of policy that is used to provide a specific Specific Risk
Poliamount of replacement cost for a given risk after an cy insured
property has been destroyed is called a(n) a)Specific risk policy.
b)Valued policy.
c)Pro-forma appraisal policy.
d)Equitable sum policy.
9. Which of the following types of valuation works best Agreed Value for
property whose value does not fluctuate much? a)Stated amount
b)Inflation guard
c)Agreed value
d)Market value
10. The part of a property policy that shows the amount Declarations of
insurance, premium, and policy term is the a)Insuring clause.
, Idaho Property Test Review
b)Conditions.
c)Endorsements.
d)Declarations.
11. A commercial property special form covers property $5,000 in transit
up to a)$500.
b)Full replacement cost.
c)$5,000.
d)ACV.
12. The policy conditions define The amount of
a)The amount of coverage. coverage
b)How parties to the contract must act following a loss.
c)The basic underwriting information.
d)The excluded perils.
13. The HO-3 homeowners policy provides: Open peril cov-
erage on the
a)Open peril coverage on the dwelling and broad form dwelling and
coverage on personal property. broad form cover-
b)Open peril coverage on the dwelling and basic form age on personal
coverage on personal property. property.
c)Basic coverage for the dwelling and broad form
coverage for personal property.
d)All-risk coverage for both the dwelling and personal
property.
14. Which of the following is eligible for a businessown- A 6-story of-
ers policy? fice building with
less than 100,000
a)A convenience store with gas pumps with 60% of square feet total
gross sales from gasoline sales area
b) A mercantile risk with gross sales of $4 million
, Idaho Property Test Review
c)A 6-story office building with less than 100,000 square feet total
area
d)An 8-story office building
15. When other insurance is written on the same basis A share of the loss
as a commercial property policy, the obligation of the insurer is to
cover a)All of the loss.
b)The loss on an excess basis.
c)The loss on a primary basis.
d)A share of the loss.
16. An insured owns several buildings, each at a different Specific
location and insured on a separate policy. What type of coverage
does the insured have?
a)Specific
b)Schedule
c)Blanket
d)Special
17. In order to purchase Marine insurance, which of the The applicant
following conditions must exist? must have an in-
surable interest in a)The risk must be on water the property to be
b)The applicant must have an insurable interest in the insured
property to be insured
c)The property must be movable
d)All of the above
18. Which of the following terms describes making false Defamation
statements about the financial condition of any insurer that are
intended to injure any person engaged in the business of insurance?
a)Defamation
b)Undercutting
c)Twisting
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