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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? - correct 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 - correct answer - Broad form; owner occupant
HO-3 - correct answer - Special Form; owner occupant
HO-4 - correct answer - Tenants or Renters
HO-5 - correct answer - Comprehensive Form; owner-occupant (open to all
except exclusions)
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HO-6 - correct answer - Condominium Owners
HO-8 - correct answer - Modified Form for Special Risks (such as older
homes that would cost more to rebuild than they're worth)
Dwelling Basic Form - correct answer - DP-1
DP-1 - correct 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.
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? - correct 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 - correct answer - Broad form; owner occupant
HO-3 - correct answer - Special Form; owner occupant
HO-4 - correct answer - Tenants or Renters
HO-5 - correct answer - Comprehensive Form; owner-occupant (open to all
except exclusions)
, Page |2
HO-6 - correct answer - Condominium Owners
HO-8 - correct answer - Modified Form for Special Risks (such as older
homes that would cost more to rebuild than they're worth)
Dwelling Basic Form - correct answer - DP-1
DP-1 - correct 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.
