Free Other Property Insurance Practice Questions
Montana Property exam — 70 practice questions.
Subtopics: Specific valuation, Specific valuation scope, Inland marine act, Instrumentalities, Wedding present floater, Musical instrument floater, Personal floaters, Inland marine exceptions, Money in safes, Wet marine, Marine P&I, Ocean marine exemption, 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
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Sample questions & answers
1. A Montana policy schedules a painting at a stated value of $20,000 and the premium is based on that value. If the painting is totally destroyed in a covered loss, the insurer must pay:
the $20,000 stated value less any deductible
Mont. Code Ann. 33-24-103 requires total losses of specifically valued personal property (other than motor vehicles) to be paid at the stated valuation less only the deductible.
2. Montana's specific valuation rule for scheduled personal property does NOT apply to policies covering:
motor vehicles
Mont. Code Ann. 33-24-103(1) applies to policies insuring specific listed personal property, except motor vehicle insurance policies.
3. Montana's statutes defining the risks that marine, inland marine, and transportation policies may cover are cited as the:
Nationwide Inland Marine Definition Act
Mont. Code Ann. 33-1-221: sections 33-1-221 through 33-1-229 may be cited as the Nationwide Inland Marine Definition Act.
4. Under Montana's inland marine definitions, which property may be insured as an instrumentality of transportation and communication?
Radio and television towers and antennas
Mont. Code Ann. 33-1-226 includes bridges, piers, pipelines, power and telephone lines, radio and TV communication equipment including towers and antennas, and outdoor cranes, but excludes property at generating stations.
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.
