Free Homeowners Policy Concepts Practice Questions
New Mexico Property exam (series 18-28) — 156 practice questions.
Subtopics: Fire protection class change, Burglar alarm discount, Security bars discount, Debris removal, Trees and shrubs, Fire department service charge, Special limits, Loss assessment, Ordinance or law, Appraisal, Loss payment, Mortgage clause, Coverage A, Coverage C, Coverage D, Replacement cost, Perils, Flood exclusion, Earth movement, Renters 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, Standard mortgage clause, Vacant vs unoccupied, Open vs named perils, 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, 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. After the New Mexico OSI issues a bulletin about an unfavorable change in a community's fire protection classification, insurers must notify affected customers within:
90 days of the bulletin
The OSI bulletin instructs insurers to notify customers who may be adversely affected within ninety days of publication.
2. Under New Mexico law, insurers writing homeowners insurance must provide a minimum premium discount for a house with an electronic burglar alarm system of:
10%
Homeowners insurers must provide a minimum 10% premium discount for houses with electronic alarm systems designed to prevent unauthorized entry.
3. Under New Mexico law, what minimum homeowners premium discount applies to a house with wrought iron bars covering all doors and windows?
5%
Insurers must provide a minimum 5% premium discount for houses with wrought iron bars covering all doors and windows.
4. Under the ISO HO-3 (2011), if the covered damage plus debris removal exceeds the limit for the damaged property, how much additional insurance is available for debris removal?
5% of that limit
When damage plus debris removal exceeds the limit, an additional 5% of that limit is available for debris removal expense.
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.
