Free Dwelling Policy Concepts Practice Questions
South Dakota Property exam — 55 practice questions.
Subtopics: Valued policy law, Eligibility, DP-1 basic, DP-3 special, Coverage A, Coverage B, Coverage C, Fair rental value, Additional living expense, Theft not covered, No liability in base, Inflation guard, Dwelling under construction, Extended coverage perils, DP-2 broad form, Broad theft endorsement, Dwelling replacement cost settlement, Personal Liability Supplement medical payments, Vandalism and malicious mischief, Recovered property, Personal property loss settlement, Improvements and betterments, Personal property off-premises, Trees shrubs and plants, Internal explosion, Property not covered, Functional Replacement Cost endorsement, DP-2 burglar damage, DP-3 vs DP-2, DP Coverage E, Fair rental value calc, DP civil authority, DP money excluded, DP Coverage A materials, DP general exclusion, DP water backup, DP freezing, DP windstorm interior, DP smoke peril, DP-3 theft not covered, DP reasonable repairs, DP ordinance or law, DP-3 exclusions, DP Coverage C named perils, DP deductible, DP vacancy - glass, DP mortgagee rights, DP Coverage B, DP-2 replacement cost, DP volcanic eruption, Dwelling forms, Dwelling coverages
Read the Dwelling Policy Concepts study guide
Sample questions & answers
1. Under South Dakota's valued policy law, when insured real property is wholly destroyed by fire, tornado, or lightning without criminal fault of the insured, the insurer pays:
The amount of insurance written in the policy
SDCL 58-10-10 makes the policy amount conclusively the true value and measure of damages for a total loss to real property by fire, tornado, or lightning.
2. South Dakota's valued policy law applies to total losses of real property caused by:
Fire, tornado, or lightning
SDCL 58-10-10 applies to real property insured against loss by fire, tornado, or lightning that is wholly destroyed.
3. South Dakota's valued policy law applies to a total fire loss only if the loss occurs at least how long after the policy was written?
90 days
SDCL 58-10-10(1) applies the law only if the total loss occurs ninety days or more after the policy was written or after limits were increased by 25 percent or more at the insured's request.
4. A South Dakota insured raised the dwelling limit by 30 percent last month and the home then burned to the ground. How is the loss valued?
Under the policy's valuation terms, not the valued policy law
Within ninety days after a limit increase of 25 percent or more, payment follows the policy's valuation terms rather than the stated amount (SDCL 58-10-10(1)).
Practice: Dwelling 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.
