Free Homeowners Policy Concepts Practice Questions
Indiana Property exam — 152 practice questions.
Subtopics: Residential termination scope, Inland marine exclusion, Residential cancellation notice form, Nonpayment cancellation, Cancellation after 60 days, Cancellation in first 60 days, Independent producer notice, Residential nonrenewal notice, Willingness to renew, Affiliate transfer, Failure to give nonrenewal notice, Explanation standard, Permitted cancellation reasons, Tax delinquency ground, Code violations, Prohibited termination grounds, Residual market history, Occupation as a ground, Termination defined, Aerial image nonrenewals, Aerial image age, Eligibility, HO-3 special, HO-4 renters, HO-6 condo, HO-8 modified, Coverage C limit, Coverage B limit, Loss of use, Coverage E liability, Coverage F medical payments, Replacement cost requirement, Special limits, Standard mortgage clause, Vacant vs unoccupied, Open vs named perils, Loss assessment, Debris removal, Trees and shrubs, Ordinance or law, Appraisal condition, Business pursuits, Home day care, Personal injury, Watercraft endorsement, Fungi limitation, Permitted incidental occupancies, Identity fraud, Earthquake endorsement, Scheduled personal property, Water and sewer backup, HO-2 broad form, HO-5 comprehensive form, Coverage A dwelling, Section I vs Section II, Medical payments exclusions, Credit card and forgery coverage, Collapse additional coverage, Glass or safety glazing, Landlords furnishings, Fire department service charge, Reasonable repairs, Property removed coverage, Damage to property of others, Money special limit, Volcanic eruption, Firearms theft limit, Business property on-premises limit, Personal property replacement cost, Grave markers, Refrigerated food spoilage, Concealment or fraud condition, Intentional loss exclusion, Neglect exclusion, Power failure exclusion, Nuclear hazard exclusion, Motor vehicle liability exclusion, Aircraft liability exclusion, Severability of insurance, Loss payment condition, Our option to repair or replace, Definition of insured, Full-time student, Residence premises, HO civil authority, HO-4 Coverage C, HO-4 additions and alterations, HO-6 Coverage A, HO-3 Coverage C perils, Theft from dwelling under construction, Theft - rented to others, Watercraft property limit, Securities limit, Jewelry theft limit, Silverware theft limit, Business property off premises, Property not covered, Coverage C worldwide, Personal property at other residence, Debris removal additional amount, Tree removal, Trees perils, Loss assessment limit, Ordinance or law limit, Grave markers limit, Landlord furnishings limit, Property removed duration, Replacement cost holdback, HO underinsured RC calc, Loss settlement - contents, Medical payments time limit, Section II additional - claim expenses, First aid expenses, Watercraft liability exclusion, Business exclusion, Coverage E exclusion - insured injury, Rented property liability, Expected or intended, Section II other insurance, Section I other insurance, HO cancellation - new policy, HO nonrenewal notice, Death of named insured, Mold exclusion HO-3, Animals owned exclusion, Vacancy - vandalism HO, Inflation guard HO, Additional living expense example, Section II, HO-5 vs HO-3, HO-5 special limits, HO-8 loss settlement, HO-8 theft, HO-8 perils, Water backup, Identity fraud expense
Read the Homeowners Policy Concepts study guide
Sample questions & answers
1. Indiana's residential property cancellation and nonrenewal law (IC 27-7-12) applies to which policy?
A homeowners policy on an owner-occupied duplex
The chapter covers real property of not more than four residential units, one of which is the named insured's principal residence, and personal property used in a residence; inland marine and auto are excluded.
2. Which policy is expressly excluded from Indiana's residential property termination chapter?
A policy of inland marine insurance
IC 27-7-12-1(c) states the chapter does not apply to inland marine policies, auto policies under IC 27-7-6, or commercial policies under IC 27-1-31.
3. An Indiana insurer cancels a homeowners policy. Which statement about the notice is correct?
Written, mailed to the last known address, with the date
IC 27-7-12-3(a) requires the notice to be in writing, mailed to the named insured at the last known address, and to state the effective date; reasons are given on request.
4. How much advance notice must an Indiana insurer mail before cancelling a homeowners policy for nonpayment of premium?
10 days
IC 27-7-12-3(b)(1) requires at least 10 days' mailed notice for cancellation for nonpayment.
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.
