Ho 3 special form - Study guides, Class notes & Summaries

1. Which of the following dwelling forms provides coverage for loss of rental income? - The Basic, Broad and Special Form - The Basic and Broad Forms only - The Broad and Special Forms only - The Special Form only: The correct answer is: The Basic, Broad and Special Form. EXPLANATION: All of the forms provide for rental value coverage. In the DP-2 and DP-3, it is 20% of the Coverage A limit and is additional coverage. With the DP-1, the 20% coverage reduces the available Coverage A amoun...

New York All Lines Adjuster Exam with Correct Answers 2024/2025 (Graded) DP-2/3 - RCV building & ACV contents DP - limit for fair rental value - ANSWER-20% of A DP - coverages (A-E) - ANSWER-A - dwelling B - other structures C - personal property D - fair rental value E - additional living expense DP - limit for additional living expenses - ANSWER-DP-1 - NONE DP-2/3 - 20% of A DP - Property removed is covered for ___ days. - ANSWER-DP-1 - 5 days DP-2 - 30 days DP - limit for trees/pl...

TEXAS All Lines Adjuster Exam Questions & Answers 2024/2025 The insured has filed a claim under the "Business Income Department Properties - Broad Form" because the primary buyer of products and services from the business has filed for bankruptcy under this form the primary buyers business would be known as - ANSWERSA recipient location recipient location - ANSWERSBusinesses who support insured by being the primary buyer for their products HO-3 (special form) - ANSWERScovers the dwe...

The Standard Fire Policy -1st used in 1918 in NY -Provided homeowner & commercial property protection. -ACV valuation -Named peril policy -Only covered fire & lightening "165 Line" Policy The original Standard Fire Policy spent 165 lines explaining new insurance concepts that are still used today: -Concealment & misrepresentation -Property & perils excluded from coverage -Insurance cancellation due to an increase in hazards -Obligations to a mortgagee -Insured's duties in th...

1. The insured has filed a claim under the "Business Income Department Properties - Broad Form" because the primary buyer of products and services from the business has filed for bankruptcy under this form the primary buyers business would be known as ANS A recipient location 2. recipient location ANS Businesses who support insured by being the primary buyer for their products 3. HO-3 (special form) ANS covers the dwelling and other structures on a risk-of-di- rect-physical loss basis. Al...

New York All Lines Adjuster Exam with 100% Correct Answers (Graded A+) DP - valuation - ANSWER-DP-1 - ACV building & contents DP-2/3 - RCV building & ACV contents DP - limit for fair rental value - ANSWER-20% of A DP - coverages (A-E) - ANSWER-A - dwelling B - other structures C - personal property D - fair rental value E - additional living expense DP - limit for additional living expenses - ANSWER-DP-1 - NONE DP-2/3 - 20% of A DP - Property removed is covered for ___ days. - ANSWER-...

SC Personal Lines Questions and Answers Graded A+ 6 loss valuation methods actual cash value, replacement value, functional replacement value, market value, stated amount, agreed value waiver & estoppel a person has given up a known or legal right 4 components of a legal contract agreement, consideration, competent parties, legal purpose 6 classes of insurers authorized(admitted), unauthorized(nonadmitted), domestic, foreign, alien, independent rating services 5 marketing dis...

Florida 2-20 Agents License Exam Questions with 100% Correct Answers The Florida Surplus Service Lines Office (FSLSO) was created to - Correct Answer ️️ -oversee the surplus lines industry in the state Which of the following is NOT a required qualification for a General Lines Agent: - Correct Answer ️️ -Seeking the license only to write controlled business The Department of Financial Services performs the following, EXCEPT: - Correct Answer ️️ -Pays insurance claims Once lice...

PA Property & Casualty License Practice ExamAn exclusion that states that an insurer will not pay any claim in which an individuals property is damaged as a result of an earthquake, mudslide, landslide, or sinkhole. - correct answer an Earth movement exclusion An exclusion that states that an insurer will not pay any claim in which an individuals property is damaged as a result of the fact that the individual did not maintain the property. - correct answer Neglect exclusion Which Home Owne...

HO-1 - Answer Basic named perils policy. Only covers 10 listen perils. RCV. HO-2 - Answer Broad named perils policy. Covers dwelling & personal property. 16 named perils. HO-3 - Answer Homeowners special form. Basic open perils policy. Dwelling - open peril, covers everything except exclusions. Contests - named peril. HO-4 - Answer Renters policy. No coverage for dwelling, other structures or loss of use. Personal property (amount that you specify.) Liability (amount th...