Ch 5 - Homeowner's ('01 PA Version) Policy - 11% of exam Flashcards
1
Q
If a residential building is 5 units or greater, can an HO1 be written?
A
No
2
Q
If a residential building is 5 units or greater, which HO policy types may be written?
A
HO2 thru HO8 (Remember there’s no HO7.)
3
Q
On a $100k home, what % of the property value does the INSURANCE co require? (not the mortgage co.)
A
80% (WHAT’S THE CONTEXT HERE?)
4
Q
“Personal prop” %
A
70%
5
Q
“Other structures” %
A
10%
6
Q
What is needed to cover a $20,000 piece of jewelry?
A
A rider
7
Q
If a $20,000 piece of jewelry is lost while the insured is in Bahamas, is it covered?
A
Yes (However, if they were staying at their 2nd home at the time of loss, then only 10% of the value would be covered.) (ASK IF DEPRECIATION PLAYS.)
8
Q
How many Ch 5 Exam Q’s?
A
11 (DO I HAVE ALL OF THEM?)
