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INSURANCE MODULE 13 2025 BRAND
NEW ACTUAL EXAM WITH ANSWERS.
1. What is the NFIP maximum for flood insurance coverage for a
building? - correct answer-$250,000
2. What is the NFIP maximum for flood insurance coverage for
contents? - correct answer-$100,000
3. What is the maximum deductible amount for 1-4 units and
PUDs? - correct answer-$5,000
4. What is the maximum allowable deductible for PUD units
insured by HOA? - correct answer-$25,000
5. ____________________ offers protection against claims
alleging a property owner's negligence or inappropriate action
resulted in bodily injury or property damage to another party. -
correct answer-Liability insurance
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6. For what type of residences is liability insurance is required? -
correct answer-Condominiums, PUDs (Planned Unit
Developments), and Cooperative projects
7. _________________________ protects the Homeowners
Association or Cooperative Corporation against economic loss
from dishonest acts of anyone who either handles or is
responsible for the funds of the association or corporation. -
correct answer-Fidelity insurance
8. Fidelity insurance is required on all condominium and
cooperative projects with more than _________ units, including
"limited review" and FHA and Fannie Mae approved
9. projects, regardless of the project approval type. - correct
answer-20
10. True or False: The Master Policy (or Blanket Liability) usually
covers the common areas and the "shell" of the individual unit
only. - correct answer-True
INSURANCE MODULE 13 2025 BRAND
NEW ACTUAL EXAM WITH ANSWERS.
1. What is the NFIP maximum for flood insurance coverage for a
building? - correct answer-$250,000
2. What is the NFIP maximum for flood insurance coverage for
contents? - correct answer-$100,000
3. What is the maximum deductible amount for 1-4 units and
PUDs? - correct answer-$5,000
4. What is the maximum allowable deductible for PUD units
insured by HOA? - correct answer-$25,000
5. ____________________ offers protection against claims
alleging a property owner's negligence or inappropriate action
resulted in bodily injury or property damage to another party. -
correct answer-Liability insurance
, Page | 2
6. For what type of residences is liability insurance is required? -
correct answer-Condominiums, PUDs (Planned Unit
Developments), and Cooperative projects
7. _________________________ protects the Homeowners
Association or Cooperative Corporation against economic loss
from dishonest acts of anyone who either handles or is
responsible for the funds of the association or corporation. -
correct answer-Fidelity insurance
8. Fidelity insurance is required on all condominium and
cooperative projects with more than _________ units, including
"limited review" and FHA and Fannie Mae approved
9. projects, regardless of the project approval type. - correct
answer-20
10. True or False: The Master Policy (or Blanket Liability) usually
covers the common areas and the "shell" of the individual unit
only. - correct answer-True
