State Farm Homeowner Policy FP-7955 Deducible EXAM (2025) QUESTIONS AND (elaborated) WITH COMPLETE SOLUTIONS

STATE FARM HOMEOWNER POLICY FP-7955 DEDUCIBLE EXAM (2025)
QUESTIONS AND (ELABORATED) WITH COMPLETE SOLUTIONS


Broad Form, provides coverage for dwelling, personal property, and other structures (vehicle, fire,
theft, falling objects) - (Answer) -HO-2


Special Form, insured on an open peril basis if not excluded, coverage are A and B - (Answer) -HO-
3


Contacts Broad form, renters’ homeowners’ policy, provides coverage for C, D, E, F, - (Answer) -
HO-4


Comprehensive form, provides coverage for A, B,C - (Answer) -HO-5


Unit owners form, most popular, provides coverage for C,D,E,F, insures real and personal property
around the world, for condo - (Answer) -HO-6


Modified coverage form, insures older homes when values are disproportionate would be created if
insurance were written at 100% replacement cost - (Answer) -HO-8


An employee whose duties are related to maintenance of premise - (Answer) -Residence Employee


Dwelling-named perils/replacement value
Personal property-named perils/actual cash value - (Answer) -HO-2 broad form


Dwelling-open perils/replacement value
Personal Property-named perils/actual cash value - (Answer) -HO-3 special form


Personal property-Named perils/actual cash value - (Answer) -HO-4 contents broad


Dwelling-open perils/replacement value