1. Exam Prep
  2. Arkansas
  3. Property & Casualty
  4. Homeowners Policy Concepts

Free Homeowners Policy Concepts Practice Questions

Arkansas Property & Casualty exam — 36 practice questions.

Subtopics: HO-2 broad form, HO-5 comprehensive, HO-8 older home, Ordinance or law, Loss assessment, Debris removal, Policy sections, Earth movement exclusion, Coverage forms, Property coverages, Liability coverages, HO-4 renters, HO-6 condominium, HO-3 special form, HO-8 modified, Coverage F medical payments, Coverage E personal liability, Special limits of liability, Loss of use, Scheduled personal property, Coverage B percentage, Coverage C percentage, Section II exclusions, Section I excluded perils

Read the Homeowners Policy Concepts study guide

Sample questions & answers

1. The HO-2 (broad form) homeowners policy insures the dwelling and personal property on a(n):

Named-perils basis

The HO-2 broad form insures both the dwelling and personal property on a named-perils basis.

2. The HO-5 (comprehensive form) homeowners policy generally insures both the dwelling and personal property on a(n):

Open-perils (all-risk) basis

The HO-5 insures both the dwelling and personal property on an open-perils basis.

3. The HO-8 homeowners form is intended for older homes and commonly settles dwelling losses on a(n):

Actual cash value or functional repair basis

The HO-8 form is for older homes and settles dwelling losses on an actual cash value or functional repair basis.

4. Ordinance or law coverage helps pay:

The increased cost of rebuilding to meet current building codes

Ordinance or law coverage pays the added cost of rebuilding to comply with current building codes.

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Practice: Homeowners Policy Concepts

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.