Free Businessowners Policy Property Practice Questions
New Mexico Property exam (series 18-28) — 62 practice questions.
Subtopics: Seasonal increase, BOP business income, BOP ordinary payroll, BOP, Purpose, Eligibility, Business income included, Property covered, Cause of loss, Optional coverages, Deductible, Protective safeguards, Utility services direct damage, Utility services time element, Common conditions, Newly acquired property, Valuation, Package advantage, Mechanical breakdown option, Building coverage BOP, Business personal property BOP, Replacement cost valuation BOP, Money and securities BOP, Outdoor signs, Outdoor property, Fire department service charge BOP, Debris removal BOP, Pollutant cleanup BOP, Collapse coverage BOP, Civil authority BOP, Extra expense BOP, No coinsurance requirement, Limited fungi coverage BOP, Electronic data, Accounts receivable BOP, BOP sections, BOP business income limit, BOP waiting period, BOP extended business income, BOP seasonal increase, BOP building replacement cost, BOP forgery, BOP money orders, BOP pollutant cleanup limit, BOP water damage tear-out, BOP employee dishonesty, BOP money and securities, BOP outdoor signs, BOP vacancy, BOP mortgageholders, BOP common conditions, BOP civil authority, BOP coverage territory, BOP personal property of others, BOP spoilage, BOP deductible exceptions, Equipment breakdown
Read the Businessowners Policy Property study guide
Sample questions & answers
1. Under the ISO businessowners form (BP 00 03), if no seasonal increase percentage is shown, the business personal property limit is automatically increased by:
25%
The BPP limit automatically increases by the declared seasonal percentage or, if none is shown, by 25% (subject to conditions).
2. Under the ISO businessowners form (BP 00 03), business income loss is covered only if sustained within how long after the direct physical loss?
12 consecutive months
The BOP pays business income sustained during the period of restoration that occurs within 12 consecutive months after the loss; ordinary payroll is limited to 60 days unless more is shown.
3. Under the ISO businessowners form (BP 00 03), unless a greater number is shown, business income pays ordinary payroll expenses for how many days after the loss?
60 days
The BOP pays ordinary payroll expenses for 60 days following the direct physical loss unless the declarations show a greater number of days.
4. A businessowners policy (BOP) sold to a New Mexico small business generally combines:
Property and general liability in one package
A BOP packages commercial property and general liability coverage for eligible small businesses in one policy.
Practice: Businessowners Policy Property
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.
