AINS 102 CH 4 EXAM QUESTIONS AND
ANSWERS 100% ACCURATE!!
, Marcus is buying insurance for his recent home purchase that will be covered by a DP-3
policy. In reading his policy, which one of the following will Marcus find is true?
Select one:
A. The DP-3 excludes coverage for theft of property that isn't part of the covered
structure.
B. The DP-3 provides named perils coverage for the dwelling and personal property.
C. Marcus needs to add an endorsement to the DP-3 to cover personal property
damage.
D. Marcus wants to add a theft endorsement to his DP-3 to cover personal property
damage caused by burglars. - ANSWER A. The DP-3 excludes coverage for theft of
property that isn't part of the covered structure.
The Jordans own a small ranch, and keep several ponies on the property for their
personal use. Mr. and Mrs. Jordan are concerned that their children's friends and
visiting relatives could be injured when riding the family's ponies. What coverage would
the unendorsed DP-3 policy provide for this loss exposure?
Select one:
A. No coverage
B. Full coverage, up to the policy limits
C. Medical expenses only, up to $2,000
D. 20% of the Coverage A limit - ANSWER A. No coverage
The "Write Your Own" (WYO) flood insurance program allows
Select one:
A. Participating Insurers write flood insurance using National Flood Insurance Program
guidelines.
B. Insureds to tailor flood coverage to their own specific needs.
C. Insureds to carry flood coverage regardless of the property's location.
D. Insureds to purchase flood coverage without an agent or representative. - ANSWER
A. Participating Insurers write flood insurance using National Flood Insurance Program
guidelines.
With respect to new flood insurance policies and endorsements that increase coverage
on existing flood insurance policies, the National Flood Insurance Program (NFIP)
generally requires a waiting period of
Select one:
A. 14 days.
ANSWERS 100% ACCURATE!!
, Marcus is buying insurance for his recent home purchase that will be covered by a DP-3
policy. In reading his policy, which one of the following will Marcus find is true?
Select one:
A. The DP-3 excludes coverage for theft of property that isn't part of the covered
structure.
B. The DP-3 provides named perils coverage for the dwelling and personal property.
C. Marcus needs to add an endorsement to the DP-3 to cover personal property
damage.
D. Marcus wants to add a theft endorsement to his DP-3 to cover personal property
damage caused by burglars. - ANSWER A. The DP-3 excludes coverage for theft of
property that isn't part of the covered structure.
The Jordans own a small ranch, and keep several ponies on the property for their
personal use. Mr. and Mrs. Jordan are concerned that their children's friends and
visiting relatives could be injured when riding the family's ponies. What coverage would
the unendorsed DP-3 policy provide for this loss exposure?
Select one:
A. No coverage
B. Full coverage, up to the policy limits
C. Medical expenses only, up to $2,000
D. 20% of the Coverage A limit - ANSWER A. No coverage
The "Write Your Own" (WYO) flood insurance program allows
Select one:
A. Participating Insurers write flood insurance using National Flood Insurance Program
guidelines.
B. Insureds to tailor flood coverage to their own specific needs.
C. Insureds to carry flood coverage regardless of the property's location.
D. Insureds to purchase flood coverage without an agent or representative. - ANSWER
A. Participating Insurers write flood insurance using National Flood Insurance Program
guidelines.
With respect to new flood insurance policies and endorsements that increase coverage
on existing flood insurance policies, the National Flood Insurance Program (NFIP)
generally requires a waiting period of
Select one:
A. 14 days.
