Free Homeowners Policy Concepts Practice Questions
Arkansas Property & Casualty exam — 91 practice questions.
Subtopics: HO-2 broad form, HO-5 comprehensive, HO-8 older home, Ordinance or law, Loss assessment, Debris removal, Policy sections, Earth movement exclusion, Cancellation reasons, Cancellation notice, New policy cancellation, Scope of cancellation rule, Membership dues, Age of home, Earthquake exclusion, Coverage forms, Coverage C territory, Liability coverages, Property coverages, Coverage D limit, Coverage E limit, Coverage F limit, HO-4 renters, HO-6 condominium, HO-3 special form, HO-8 modified, Coverage F medical payments, Coverage E personal liability, Special limits of liability, Loss of use, Scheduled personal property, Coverage B percentage, Self-storage limit, Section II exclusions, Section I excluded perils, Definitions, Special limits, Personal property, Additional coverages, Perils insured against, Section I exclusions, Conditions, Section II additional coverages, Selected endorsements, Scheduled property endorsement, HO-6 special coverage, Replacement cost endorsement, HO-5 special limits, HO-5 Coverage C, HO-5 loss settlement
Read the Homeowners Policy Concepts study guide
Sample questions & answers
1. The HO-2 (broad form) homeowners policy insures the dwelling and personal property on a(n):
Named-perils basis
The HO-2 broad form insures both the dwelling and personal property on a named-perils basis.
2. The HO-5 (comprehensive form) homeowners policy generally insures both the dwelling and personal property on a(n):
Open-perils (all-risk) basis
The HO-5 insures both the dwelling and personal property on an open-perils basis.
3. The HO-8 homeowners form is intended for older homes and commonly settles dwelling losses on a(n):
Actual cash value or functional repair basis
The HO-8 form is for older homes and settles dwelling losses on an actual cash value or functional repair basis.
4. Ordinance or law coverage helps pay:
Increased cost to rebuild to current codes
The HO-3 Ordinance or Law additional coverage pays increased costs due to enforcement of ordinances or laws regulating construction or repair, up to 10% of Coverage A.
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Practice: Homeowners Policy Concepts
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
