Free Dwelling Policy Concepts Practice Questions
Virginia Property exam — 54 practice questions.
Subtopics: Owner-occupied scope, Dwelling fire policy law, Dwelling content standards, 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. 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 is designed to cover:
One- to four-family dwellings, including rentals and seasonal homes
The Dwelling Policy covers 1-4 family dwellings, including owner-occupied, rental, and seasonal dwellings.
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.
