Homeowners Policy Quiz Questions
And Answers
/. what is the maximum number of borders per unit that would be allowed in the
homeowners policy?
a. 2
b. 3
c. 4
d. 5 - Answer-✅a. 2. homeowners policies May ensure a property that has no more
than two families are two roomers were borders per unit
/.under the HO-4 and HO-6 homeowners policy forms, property is insured against
a. broad forms perils
b. basic form perils c.
special forms perils or
d. comprehensive form perils - Answer-✅a. broad form perils. HO-4 and HO-6 provide
the same level of coverage as Coverage C in the HO-2 and HO-3
/.which of the following losses would be covered by an unendorsed homeowners policy?
a. theft in a structure under construction
b. collapse caused by an earthquake
c. fire or lightning
d. faulty or defective zoning - Answer-✅c. fire or lightning. fire and lightning are included
in the basic perils, which in turn are included in almost all homeowners policies.
earthquake coverage is only by endorsement. theft in or two buildings under
construction is not covered. if the insured's own acts, decisions, or failure to act causes
the loss, it is not covered
/.which of the following examples of losses paid under ho-3 also would be paid under a
HO-2 to homeowners policy?
a. accidental scorching caused when a hot iron is placed upon a built-in countertop
b. interior damage caused by water seeping under the shingles on the roof
c. damage to the dwelling caused by ash or dust from a volcanic eruption
d. damage to the dwelling caused by the insured when moving furniture - Answer-✅c.
damage to the dwelling caused by a short dress from a volcanic eruption. an ho-3
covers losses on an open peril basis. in HO2 covers losses on named peril basis. both
forms cover damage to the dwelling caused by ash or dust from a volcanic eruption
/.which of the following homeowners policies covers those who rent their dwelling?
a. ho1
b. HO2
c. ho4
, d. ho6 - Answer-✅c. ho4. the personal property of a tenant is covered by the ho-4
policy
/.in apartment occupants personal property would be insured under which homeowners
form? - Answer-✅tenant broad form ho - 4. pho - form or tenant broad form is for the
apartment dweller. it covers what the insured bones, their contents, and has no
coverage for the apartment.
/.the dwelling insured on the Ho2, ho3, or ho5 form is covered for replacement, provided
that it is insured for at least what percentage of replacement cost on the date of loss?
a. 25%
b. 40%
c. 75%
d. 80% - Answer-✅D. 80%. HO2, three, and five provide replacement cost coverage if
the house is insured for at least 80% of its value on the date of the loss
/.the insured's home is covered by an ho-3. two years ago, the insured bought the home
for $58,000. today, its replacement value is $60,000. how much coverage a does the
insured need to qualify for replacement cost coverage?
a. $46,400
b. $48,000
c. $58,000
d. $60,000 - Answer-✅b. $48,000. a house must be insured for at least 80% of its value
on the date of loss to qualify for replacement coverage. in this example 80% of $60,000
is $48,000
/.the ho-3 homeowners policy provides
a. basic coverage for the dwelling and broad form coverage for personal
b. all desk risk coverage for both the dwelling and personal property
c. open peril coverage on the dwelling and broad form coverage on personal property.
D. open peril coverage on the dwelling and basic form coverage on personal property -
Answer-✅see. open peril coverage on the dwelling and broad form coverage on
personal property. The open peril coverage applies to property insured under coverage
is a and b only
/.the difference in the contents coverage on an ho-3 and ho-4 5 is which of the
following?
a. contents are covered open peril on ho - 5, and named peril on ho-3.
b. contents are covered open peril ho - 3, and named peril on HO5.
c. contents are covered for replacement cost on ho - 5, and ACV on ho-3
D. contents are covered for replacement cost on ho-3 and ACV on ho5 - Answer-✅a.
contents are covered open peril on HO - 5, and named peril on ho - 3.
HO-5 provides open peril coverage for contents; ho - 3 is named peril coverage for
contents. replacement cost coverage is available only by endorsement to either form
And Answers
/. what is the maximum number of borders per unit that would be allowed in the
homeowners policy?
a. 2
b. 3
c. 4
d. 5 - Answer-✅a. 2. homeowners policies May ensure a property that has no more
than two families are two roomers were borders per unit
/.under the HO-4 and HO-6 homeowners policy forms, property is insured against
a. broad forms perils
b. basic form perils c.
special forms perils or
d. comprehensive form perils - Answer-✅a. broad form perils. HO-4 and HO-6 provide
the same level of coverage as Coverage C in the HO-2 and HO-3
/.which of the following losses would be covered by an unendorsed homeowners policy?
a. theft in a structure under construction
b. collapse caused by an earthquake
c. fire or lightning
d. faulty or defective zoning - Answer-✅c. fire or lightning. fire and lightning are included
in the basic perils, which in turn are included in almost all homeowners policies.
earthquake coverage is only by endorsement. theft in or two buildings under
construction is not covered. if the insured's own acts, decisions, or failure to act causes
the loss, it is not covered
/.which of the following examples of losses paid under ho-3 also would be paid under a
HO-2 to homeowners policy?
a. accidental scorching caused when a hot iron is placed upon a built-in countertop
b. interior damage caused by water seeping under the shingles on the roof
c. damage to the dwelling caused by ash or dust from a volcanic eruption
d. damage to the dwelling caused by the insured when moving furniture - Answer-✅c.
damage to the dwelling caused by a short dress from a volcanic eruption. an ho-3
covers losses on an open peril basis. in HO2 covers losses on named peril basis. both
forms cover damage to the dwelling caused by ash or dust from a volcanic eruption
/.which of the following homeowners policies covers those who rent their dwelling?
a. ho1
b. HO2
c. ho4
, d. ho6 - Answer-✅c. ho4. the personal property of a tenant is covered by the ho-4
policy
/.in apartment occupants personal property would be insured under which homeowners
form? - Answer-✅tenant broad form ho - 4. pho - form or tenant broad form is for the
apartment dweller. it covers what the insured bones, their contents, and has no
coverage for the apartment.
/.the dwelling insured on the Ho2, ho3, or ho5 form is covered for replacement, provided
that it is insured for at least what percentage of replacement cost on the date of loss?
a. 25%
b. 40%
c. 75%
d. 80% - Answer-✅D. 80%. HO2, three, and five provide replacement cost coverage if
the house is insured for at least 80% of its value on the date of the loss
/.the insured's home is covered by an ho-3. two years ago, the insured bought the home
for $58,000. today, its replacement value is $60,000. how much coverage a does the
insured need to qualify for replacement cost coverage?
a. $46,400
b. $48,000
c. $58,000
d. $60,000 - Answer-✅b. $48,000. a house must be insured for at least 80% of its value
on the date of loss to qualify for replacement coverage. in this example 80% of $60,000
is $48,000
/.the ho-3 homeowners policy provides
a. basic coverage for the dwelling and broad form coverage for personal
b. all desk risk coverage for both the dwelling and personal property
c. open peril coverage on the dwelling and broad form coverage on personal property.
D. open peril coverage on the dwelling and basic form coverage on personal property -
Answer-✅see. open peril coverage on the dwelling and broad form coverage on
personal property. The open peril coverage applies to property insured under coverage
is a and b only
/.the difference in the contents coverage on an ho-3 and ho-4 5 is which of the
following?
a. contents are covered open peril on ho - 5, and named peril on ho-3.
b. contents are covered open peril ho - 3, and named peril on HO5.
c. contents are covered for replacement cost on ho - 5, and ACV on ho-3
D. contents are covered for replacement cost on ho-3 and ACV on ho5 - Answer-✅a.
contents are covered open peril on HO - 5, and named peril on ho - 3.
HO-5 provides open peril coverage for contents; ho - 3 is named peril coverage for
contents. replacement cost coverage is available only by endorsement to either form
