Free Dwelling Policy Concepts Practice Questions
Virginia Property & Casualty exam (series 11-03) — 40 practice questions.
Subtopics: Owner-occupied scope, Dwelling fire policy law, Dwelling content standards, Coverage forms, Characteristics, Property coverages, Perils insured against, Eligibility, Fair rental value, Other structures, DP-1 basic form, DP-3 special form, Additional living expense, Replacement cost loss settlement, Other coverages, Coverage A property, DP-1 perils, DP-1 loss settlement, DP-2 perils, DP-3 personal property, Vacancy, Cancellation, Personal liability supplement, Selected endorsements, Loss settlement
Read the Dwelling Policy Concepts study guide
Sample questions & answers
1. Virginia's cancellation-reason limits and 30-day notice rules in Va. Code 38.2-2114 protect policies that insure:
Owner-occupied dwellings
The statute applies to any policy or contract written to insure owner-occupied dwellings, whether on a dwelling or homeowners form.
2. Virginia's fire insurance chapter (Chapter 21 of Title 38.2), including the standard fire policy provisions, applies to:
Fire policies and fire coverage combined with other coverages
Chapter 21 applies only to contracts or policies of fire insurance and fire insurance in combination with other coverages, such as dwelling and homeowners forms.
3. The Commission may set standards for the content of riders and endorsements used with policies insuring:
Owner-occupied dwellings
Va. Code 38.2-2108 lets the Commission establish content standards for policies and endorsements written to insure owner-occupied dwellings.
4. The Dwelling policy form that provides open-peril (special form) coverage on the dwelling structure is the:
DP-3
The DP-3 provides special (open-peril) coverage on the dwelling and other structures; DP-1 is basic and DP-2 is broad named-peril.
All Property & Casualty topics
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.
