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CHEAT SHEET - PROPERTY & CASUALTY EXAM 2025|
BRAND NEW ACTUAL EXAM WITH 100% VERIFIED
QUESTIONS AND CORRECT SOLUTIONS|
GUARANTEED VALUE PACK| ACE YOUR GRADES.
What are the forms of homeowner policies? - (answer)HO-2, HO-3, HO-4, HO-5,
HO-6, HO-8. Each of these forms provides identical liability coverage. The
property coverage varies with the homeowners form selected. The following is a
list of the forms with the covered perils of each.
HO-2 - (answer)Broad form; owner occupant
HO-3 - (answer)Special Form; owner occupant
HO-4 - (answer)Tenants or Renters
HO-5 - (answer)Comprehensive Form; owner-occupant (open to all except
exclusions)
HO-6 - (answer)Condominium Owners
HO-8 - (answer)Modified Form for Special Risks (such as older homes that would
cost more to rebuild than they're worth)
Dwelling Basic Form - (answer)DP-1
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DP-1 - (answer)*Dwelling basic form that provides certain other coverages that
are automatically included for not additional premium.*
-Other structures allows use of up to 10% of the Coverage A limit of liability for
covered losses to other structures as described in coverage B.
-Debris removal pays for the expense of removing debris as the result of a loss
covered by the policy.
-Reasonable repairs pays for reasonable costs to make necessary repairs to
protect property from further damage following a covered loss.
-Improvements, alterations, and additions provide coverage for insureds who are
tenants for improvements or alterations made to the dwelling at the tenant's
expense
-Fire department service charge - pays up to $500 for fire department charges
incurred when they're called to save or protect property.
-Worldwide coverage provides 10% of coverage C (personal property on premisis)
-Rental value - provides up to 20% of Coverage A (dwelling) limit of liability for
loss of fair rental value.
Dwelling Broad Form - (answer)DP-2
DP-2 - (answer)*Includes all the coverages in DP-1 plus some other coverages
that are not found in DP-1.* + BIG AFFECT
-Trees, shrubs, and other plants pays up to 5% of Coverage A limit for damage to
trees, shrubs, plants. etc. Policy will not pay more than $500 for damage.
CHEAT SHEET - PROPERTY & CASUALTY EXAM 2025|
BRAND NEW ACTUAL EXAM WITH 100% VERIFIED
QUESTIONS AND CORRECT SOLUTIONS|
GUARANTEED VALUE PACK| ACE YOUR GRADES.
What are the forms of homeowner policies? - (answer)HO-2, HO-3, HO-4, HO-5,
HO-6, HO-8. Each of these forms provides identical liability coverage. The
property coverage varies with the homeowners form selected. The following is a
list of the forms with the covered perils of each.
HO-2 - (answer)Broad form; owner occupant
HO-3 - (answer)Special Form; owner occupant
HO-4 - (answer)Tenants or Renters
HO-5 - (answer)Comprehensive Form; owner-occupant (open to all except
exclusions)
HO-6 - (answer)Condominium Owners
HO-8 - (answer)Modified Form for Special Risks (such as older homes that would
cost more to rebuild than they're worth)
Dwelling Basic Form - (answer)DP-1
, 2|Page
DP-1 - (answer)*Dwelling basic form that provides certain other coverages that
are automatically included for not additional premium.*
-Other structures allows use of up to 10% of the Coverage A limit of liability for
covered losses to other structures as described in coverage B.
-Debris removal pays for the expense of removing debris as the result of a loss
covered by the policy.
-Reasonable repairs pays for reasonable costs to make necessary repairs to
protect property from further damage following a covered loss.
-Improvements, alterations, and additions provide coverage for insureds who are
tenants for improvements or alterations made to the dwelling at the tenant's
expense
-Fire department service charge - pays up to $500 for fire department charges
incurred when they're called to save or protect property.
-Worldwide coverage provides 10% of coverage C (personal property on premisis)
-Rental value - provides up to 20% of Coverage A (dwelling) limit of liability for
loss of fair rental value.
Dwelling Broad Form - (answer)DP-2
DP-2 - (answer)*Includes all the coverages in DP-1 plus some other coverages
that are not found in DP-1.* + BIG AFFECT
-Trees, shrubs, and other plants pays up to 5% of Coverage A limit for damage to
trees, shrubs, plants. etc. Policy will not pay more than $500 for damage.
