Free Homeowners Policy Concepts Practice Questions
Vermont Property & Casualty exam (series 14-31) — 74 practice questions.
Subtopics: Matching, Coverage forms, Coverage C territory, Liability coverages, Property coverages, Coverage D limit, Coverage E limit, Coverage F limit, HO-4 renters, HO-6 condominium, HO-3 special form, HO-5 comprehensive, HO-8 modified, Coverage F medical payments, Coverage E personal liability, Special limits of liability, Loss of use, Scheduled personal property, Coverage B percentage, Self-storage limit, Section II exclusions, Section I excluded perils, Definitions, Special limits, Personal property, Additional coverages, Perils insured against, Section I exclusions, Conditions, Section II additional coverages, Selected endorsements, Scheduled property endorsement, HO-6 special coverage, Replacement cost endorsement, HO-5 special limits, HO-5 Coverage C, HO-5 loss settlement
Read the Homeowners Policy Concepts study guide
Sample questions & answers
1. Hail damages part of a Vermont home's siding, and the replacement siding cannot match the undamaged siding. Under the Fair Claims Practices Regulation, the insurer must:
Replace enough siding for a uniform look
Regulation I-79-2 § 8(A)(6) requires replacement with like kind and quality so as to give a reasonably uniform appearance within the same line of sight, with the insured bearing no cost beyond the deductible.
2. When Vermont's matching rule requires an insurer to replace undamaged items for a uniform appearance, the insured pays:
Nothing beyond the deductible
Regulation I-79-2 § 8(A)(6) states that the insured shall not bear any cost over the applicable deductible.
3. The HO-3 (Special Form) provides what type of coverage?
Open perils on the dwelling and named perils on personal property
The HO-3 insures the dwelling and other structures on an open-peril basis and personal property on a named-peril basis.
4. Which Homeowners form is designed for tenants who rent their residence?
HO-4
The HO-4 is the contents and liability form for renters; it provides no coverage on the building itself.
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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.
