Free Other Property Insurance Practice Questions
West Virginia Property exam — 87 practice questions.
Subtopics: NFIP waiting period, NFIP loan exception, FAIR Plan act, FAIR Plan purpose, FAIR Plan eligibility, FAIR Plan participation, FAIR Plan limits, FAIR Plan perils, FAIR Plan policy term, FAIR Plan application, FAIR Plan commission, FAIR Plan inspections, FAIR Plan appeals, FAIR Plan prior debt, Mine subsidence fund, Mine subsidence defined, Mine subsidence exclusions, Mine subsidence requirement, Mine subsidence counties, Mine subsidence effective date, Mine subsidence deductible, Mine subsidence limit, Refusing subsidence coverage, Mine subsidence claims, Mine subsidence premium, Mine subsidence payment effect, NFIP flood, NFIP limits, Difference in conditions, Mobile home policy, Ocean marine implied warranty, General average, NFIP Risk Rating 2.0, NFIP Increased Cost of Compliance, Write Your Own program, Nationwide marine definition, Personal articles floater, Beachfront and windstorm plans, Ocean marine hull coverage, NFIP flood definition, NFIP contents limit, NFIP nonresidential limit, NFIP ICC limit, NFIP waiting exception - loan, NFIP map revision, NFIP building valuation, NFIP contents valuation, NFIP basement, NFIP proof of loss, NFIP lawsuits, NFIP loss avoidance, NFIP Community Rating System, NFIP participating community, NFIP emergency vs regular program, NFIP forms, Inland marine floater, Homeowners vs boat theft, Cargo coverage, Crop insurance, Crop-hail, DIC flood and quake, NFIP, Ocean marine, Farm property, Farm liability, Farm machinery, Inland marine floaters, Scheduled property, FAIR plans, Cyber - first party, Cyber coverage gaps, Cyber coverage forms
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Sample questions & answers
1. A West Virginia homeowner buys a new NFIP flood policy on April 1, with no loan closing or map revision involved. Coverage begins:
12:01 a.m. on the 30th day after application and payment
Under 44 CFR 61.11(d), absent an exception, new NFIP coverage takes effect at 12:01 a.m. on the 30th calendar day after the application date and presentment of premium.
2. Flood coverage purchased in connection with making, increasing, extending or renewing a loan becomes effective:
At the loan closing, if applied and paid for by then
44 CFR 61.11(b) makes coverage effective as of the loan closing when the policy is applied for and premium presented at or before closing.
3. West Virginia's FAIR Plan program is established under which law?
The West Virginia Essential Insurance Coverage Act
W. Va. Code 33-20A-1 names the article the "West Virginia Essential Insurance Coverage Act," under which the essential property insurance association operates.
4. The purpose of the West Virginia Essential Insurance Coverage Act is to make coverage available to people who:
Cannot obtain coverage in the voluntary insurance market
W. Va. Code 33-20A-2 states the purpose of providing insurance to persons who do not have coverage available to them in the voluntary market.
Practice: Other Property Insurance
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.
