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Pearson Vue Property Insurance Exam Practice Questions and Answers, Exams of Real Estate Management

A comprehensive set of practice questions and verified answers for the pearson vue property insurance exam. it covers various aspects of property insurance, including dwelling policies, homeowners insurance, flood insurance, and business owner policies. The questions test knowledge of policy coverages, exclusions, and related concepts, making it a valuable resource for exam preparation. the detailed answers enhance understanding and aid in identifying knowledge gaps.

Typology: Exams

2024/2025

Available from 04/22/2025

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Pearson Vue Property Insurance Exam
Practice Questions with Verified Answers
100% Guarantee passing score of 90% or higher
Consist of 80 multichoice Questions with Answers
1. One of the following policies covers Mobile Homes:
a. Dp-1
b. Dp-2
c. Dp-3
d. Ho-4
Answer Dp-1
2. On a dwelling policy, personal property would be covered at:
a. ACV
b. Replacement Cost
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Pearson Vue Property Insurance Exam

Practice Questions with Verified Answers

100% Guarantee passing score of 90% or higher

Consist of 80 multichoice Questions with Answers

  1. One of the following policies covers Mobile Homes: a. Dp- b. Dp- c. Dp- d. Ho- Answer Dp-
  2. On a dwelling policy, personal property would be covered at: a. ACV b. Replacement Cost

2 / c. Not covered d. 80% of Value Answer ACV

  1. DP-1 would cover all of the following without endorsement except: a. other structures b. personal property c. rental value d. additional living expense Answer additional living expense
  2. One of the following would be covered on a dwelling policy without an endorsement: a. Theft b. Earthquake c. Personal Liability d. Mobile Home Answer Mobile Home
  3. Coverage C on the dwelling policy would be:

4 / Answerho-4 (tenant)

  1. When the insured is needed to help defend a claim, a homeowners policy would pay the insured daily for attending court: a.$25 b. $ 50 c. $ d.$ 100 Answer$
  2. all of the following businesses are excluded on a business owners policy except: a. retail store b.garage c.liquor store d.service station

5 / Answer retail store

  1. Business risk coverage will cease for the following reasons except: a.builder sells property b. day after construction is complete c.policy is cancelled d. builder abandons and will not complete Answer day after construction is complete
  2. to purchase flood insurance you must live in: a. flood prone area b.proximity of water c.mobile home d.none of theses Answer flood prone area
  3. who pays the claims for flood insurance:

7 /

  1. Who sets the rates for flood insurance: a. F.I.A (federal insurance administration) b. N.A.I.C (national association of insurance commissioners) c.Private Insurance c. I.S.O (insurance service office) Answer F.I.A (federal insurance administration)
  2. coverage for boiler & machinery policies are at: a. ACV b.replacement cost c.0 % of value d. 80% of value Answerreplacement cost
  3. Actual cash value means: a. price paid for property b.replacement cost c.replacement cost less depreciation d. none of these Answerreplacement cost less depreciation

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  1. under a standard fire policy, vacant or unoccupied buildings are covered for: a.10 days b.30 days c.60 days d.90 days Answer 60 days
  2. under standard fire policy, vandalism would be covered on vacant or unoccupied buildings for: a.10 days b.30 days c. 60 days d.90 days Answer 30 days
  3. Settlement on a standard fire policy is made by: a. ACV b. replacement cost c.arbitration d.appraisal

10 / d.exclusions Answerinsuring agreement

  1. the only kind of risk that is insurable: a.certain b.pure c.speculative d.catastrophic Answerpure
  2. the chance of a loss or uncertainty is: a.risk b.hazard c.peril d.loss Answerrisk

11 /

  1. anything that increases the likelihood of an event occurring: a.risk b.hazard c.peril d.loss Answerhazard
  2. the cause of a loss a.risk b.hazard c.peril d.loss Answerperil (example: fire)
  3. insurable interest must exist: a.at policy issue date b.at the time of loss c.both a&b d.never Answerat the time of loss

13 / d.growing crops or livestock Answerinland or tidal waters and runoff of surface water

  1. a 55 ft long sailboat would be considered under a:

14 / a.homeowners policy b.outboard policy c.yacht policy d.o cean marine policy Answeryacht policy

  1. placing a gasoline can near a heater is what kind of hazard: a.moral b.legal c.morale d.p hysical Answermorale
  2. Under the pairs and set clause if the value of the set (6 plates) is $60,000. If one of the insured plates is destroyed making the remaining 5 plates worth only $5000 each, what would the policy pay if an exact duplicate plate could not be found: a. $10, b. $25,

16 / company or the insured is called: a.nonrenewal b.cancellation

17 / c.extension d.b reach of contract Answercancellation

  1. property insurance provides major coverage, but also provides insurance for debris removal, trees etc. and these are: a.extensions or additional coverages b.endorsements c.additional mini-policies d.none of the above Answerextensions or additional coverages
  2. inland marine insurance covers all the following except: a:leased facilities b.cargo c.exports d.imports: a:leased facilities
  3. the insurer may satisfy its obligations by sending a cancellation notice to: a.first names

19 / d.commercial floaters AnswerPAF

  1. property value is $300,000. Insurance carried is $200,000. if 80% coinsur- ance is required, what would the policy pay if there was a $60,000 loss and the

20 / deductible was $250: a. $49, b. $59, c. $60, d.$50, Answer$49, IC/IR(80% x property value)x amount loss=Insurer pays- deductible (IR=.80 x 300,000) $200,000/$240,000 x $60,000=$50,000-$250=$49,

  1. a commercial property standard deductible: a. $ b. $ c.$ d.$