Free Homeowners Policy Concepts Practice Questions
Minnesota Property exam — 154 practice questions.
Subtopics: Nonrenewal notice, Underwriting period, Definition of homeowners insurance, Nonrenewal for weather losses, Wind and hail deductibles, Right to object, Unearned premium, Loss experience nonrenewal, Claim inquiries, Refusal to write, Notice contents, Coverage options, Home day care, Flood disclosure, Unfair underwriting, Application forms, Grounds for nonrenewal, Experience period, Nonrenewal notices, Copy of policy, 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, 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. How much advance notice must a Minnesota insurer give before nonrenewing a homeowners policy?
60 days
No insurer may refuse to renew, reduce limits, or eliminate coverage on a homeowners policy without at least 60 days' advance notice stating the specific reason.
2. What notice must Minnesota homeowners insurance applicants receive at the time of application?
The insurer may cancel in the first 59 days
Applicants must receive a bold-print notice that the insurer may elect to cancel at any time during the first 59 days following issuance for any reason not specifically prohibited by statute.
3. For Minnesota cancellation and nonrenewal protections, "homeowner's insurance" includes which policy?
A tenant (renters) package policy
The definition includes homeowner's, mobile/manufactured home, dwelling owner, condominium owner, and tenant policies.
4. A Minnesota insurer may refuse to renew a homeowners policy for weather losses if, in the prior five years, the insured had
three or more weather losses over $10,000 each
An insurer may refuse to renew if the insured had three or more covered losses each over $10,000 from lightning, wind, rain, or hail in the preceding five years, with 60 days' notice mentioning the FAIR plan.
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.
