Free Homeowners Policy Concepts Practice Questions
Oregon Property exam (series 12-12) — 151 practice questions.
Subtopics: Homeowner cancellation reasons, Homeowner cancellation notice, Homeowner nonrenewal, New policy period, Claim in first 60 days, Prior claims, First claim rule, Coverage inquiries, Child care coverage, Home day care exposure, Time to rebuild, Disaster rebuild time, Disaster ALE, Combining limits, Contents without inventory, Wildfire map, Wildfire notice, Defensible space, Wildfire rating disclosure, 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, 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, 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. After an Oregon homeowners policy has been in effect 60 days, which is a permitted reason for the insurer to cancel midterm?
A substantial increase in the risk of loss
ORS 746.687(1) limits midterm cancellation to nonpayment, fraud or misrepresentation, violation of policy terms, substantial increase in risk, or a solvency determination.
2. An Oregon insurer cancelling a homeowners policy for nonpayment of premium must give notice at least:
10 days before cancellation
ORS 746.687(3)(a) requires 10 days' notice for nonpayment or fraud; other permitted reasons require 30 days.
3. An Oregon insurer cancelling a homeowners policy because the insured violated policy conditions must give notice at least:
30 days before cancellation
ORS 746.687(3)(b) requires 30 days' notice for violation of terms, increased risk or a solvency determination.
4. An Oregon insurer must mail or deliver a notice of renewal or nonrenewal of a homeowners policy at least:
30 days before the policy expires
ORS 746.687(4) requires notice of renewal or nonrenewal at least 30 days prior to expiration of the policy period.
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.
