1. Exam Prep
  2. California
  3. Property Broker-Agent
  4. Homeowners Policy Concepts

Free Homeowners Policy Concepts Practice Questions

California Property Broker-Agent exam (series Property) — 68 practice questions.

Subtopics: Residential disclosure, Replacement cost estimate, Valuation methods, Post-disaster claims, Extended replacement cost, Replacement cost settlement, Guaranteed replacement cost, Additional living expense, Eligibility, HO-3 special, HO-4 renters, HO-6 condo, HO-8 modified, Coverage C limit, Coverage B limit, Loss of use, Coverage E liability, Coverage F medical payments, Replacement cost requirement, Special limits, Standard mortgage clause, Vacant vs unoccupied, Open vs named perils, Loss assessment, Debris removal, Trees and shrubs, Ordinance or law, Appraisal condition, Business pursuits, Home day care, Personal injury, Watercraft endorsement, Fungi limitation, Permitted incidental occupancies, Identity fraud, Earthquake endorsement, Scheduled personal property, Water and sewer backup, HO-2 broad form, HO-5 comprehensive form, Coverage A dwelling, Section I vs Section II, Medical payments exclusions, Credit card and forgery coverage, Collapse additional coverage, Glass or safety glazing, Landlords furnishings, Fire department service charge, Reasonable repairs, Property removed coverage, Damage to property of others, Money special limit, Volcanic eruption, Firearms theft limit, Business property on-premises limit, Personal property replacement cost, Grave markers, Refrigerated food spoilage, Concealment or fraud condition, Intentional loss exclusion, Neglect exclusion, Power failure exclusion, Nuclear hazard exclusion, Motor vehicle liability exclusion, Aircraft liability exclusion, Severability of insurance, Loss payment condition, Our option to repair or replace

Read the Homeowners Policy Concepts study guide

Sample questions & answers

1. California requires that a homeowners policy be accompanied by a:

California Residential Property Insurance Disclosure

California requires insurers to provide a Residential Property Insurance Disclosure summarizing key coverage with homeowners policies.

2. California regulations governing homeowners replacement cost estimates require an insurer or agent to:

Use specified components and methods when estimating replacement cost

California regulations specify the components and methods that must be used when communicating a replacement cost estimate.

3. Under a California homeowners policy, actual cash value generally means:

Replacement cost less depreciation

Actual cash value is generally replacement cost less depreciation, while replacement cost settlement omits depreciation.

4. After a state-declared disaster, a California homeowner generally has additional time to collect full replacement cost benefits of at least:

36 months

California gives policyholders at least 36 months after a declared disaster to collect full replacement cost benefits.

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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.