Free Homeowners Policy Concepts Practice Questions
Rhode Island Property exam — 164 practice questions.
Subtopics: Hurricane deductible maximum, Hurricane deductible example, Flat hurricane deductible, Windstorm deductible, Hurricane deductible trigger, Block Island trigger, Hurricane deductible once per year, Hurricane deductible examples, Mitigation waives deductible, Mitigation nonrenewal, Small claim protection, Small claim exception, Catastrophe claim, Prior owner claims, Hurricane mediation, Hurricane deductible change notice, Surplus lines exempt, Nonrenewal plan, Flood notice, Flood notice timing, Flood notice content, Fire policy vacancy, Fire policy insurer cancellation, Fire policy proof of loss, Fire policy suit limitation, Fire policy mortgagee cancellation, Fire policy loss payable, Vandalism vacancy, Earthquake offer, Fire binder length, Lender must accept binder, Policy after binder at closing, Fire policy head statement, 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. What is the maximum hurricane deductible a Rhode Island residential property policy may include?
5 percent of the dwelling's insured value
The maximum hurricane deductible that can be offered or included is 5 percent of the insured value of the dwelling (Coverage A), and optional deductibles above 5 percent may not be offered.
2. A Rhode Island home is insured for $400,000 on Coverage A with a 5 percent hurricane deductible. How much of a covered hurricane loss does the insured pay first?
$20,000
A percentage hurricane deductible is applied to the Coverage A insured value: 5 percent of $400,000 is $20,000. The regulation's own example is 5 percent of $200,000, or $10,000.
3. If a Rhode Island insurer offers a flat dollar hurricane deductible in addition to a percentage deductible, the total deductible:
May not exceed 5 percent of the insured value
Flat dollar hurricane deductibles are allowed in place of or in addition to a percentage deductible, but the total may not exceed 5 percent of the insured value.
4. Under Rhode Island's weather-related loss regulation, a separate windstorm deductible for wind events that are NOT hurricanes:
May not be included in residential property policies
The regulation states that windstorm deductibles may not be included in residential property insurance policies; only hurricane deductibles (and ordinary all-perils deductibles) are allowed.
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.
