Free Other Property Insurance Practice Questions
Kentucky Property exam — 73 practice questions.
Subtopics: Mine subsidence, FAIR plan, NFIP flood, NFIP waiting period, NFIP limits, Difference in conditions, Mobile home policy, Ocean marine implied warranty, General average, NFIP Risk Rating 2.0, NFIP Increased Cost of Compliance, Write Your Own program, Nationwide marine definition, Personal articles floater, Beachfront and windstorm plans, Ocean marine hull coverage, NFIP flood definition, NFIP contents limit, NFIP nonresidential limit, NFIP ICC limit, NFIP waiting exception - loan, NFIP map revision, NFIP building valuation, NFIP contents valuation, NFIP basement, NFIP proof of loss, NFIP lawsuits, NFIP loss avoidance, NFIP Community Rating System, NFIP participating community, NFIP emergency vs regular program, NFIP forms, Inland marine floater, Homeowners vs boat theft, Cargo coverage, Crop insurance, Crop-hail, DIC flood and quake, NFIP, Ocean marine, Farm property, Farm liability, Farm machinery, Inland marine floaters, Scheduled property, FAIR plans, Cyber - first party, Cyber coverage gaps, Cyber coverage forms
Read the Other Property Insurance study guide
Sample questions & answers
1. A Kentucky homeowners policy insuring a dwelling in a county that has not been exempted must include mine subsidence coverage:
At a separately stated premium unless the insured waives it in writing
KRS 304.44-030(1)(a) requires policies insuring structures in nonexempt counties to include mine subsidence coverage at a separately stated premium unless waived in writing.
2. Kentucky mine subsidence coverage pays the loss in excess of a deductible equal to 2 percent of the policy's total insured value, but never less than ____ nor more than ____.
$250; $500
KRS 304.44-030(1)(c) sets the deductible at 2 percent of total insured value, with a minimum of $250 and a maximum of $500.
3. Unless the administrator sets a different amount with the commissioner's approval, the maximum total insured value the Kentucky mine subsidence fund reinsures per structure is:
$500,000
KRS 304.44-030(1)(d) sets the per-structure maximum at $500,000, or an amount set by the administrator with the commissioner's approval.
4. Kentucky's mine subsidence coverage also pays additional living expenses for a residence owner temporarily displaced by subsidence damage, up to:
$50,000
KRS 304.44-030(2) includes up to $50,000 for additional living expenses reasonably and necessarily incurred by a displaced owner.
Practice: Other Property Insurance
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.
