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  2. Indiana
  3. Property & Casualty
  4. Homeowners Policy Concepts

Free Homeowners Policy Concepts Practice Questions

Indiana Property & Casualty exam — 36 practice questions.

Subtopics: Insured perils dwelling, Personal property valuation, Coinsurance dwelling, Liability coverage scope, Additional living expense, Medical payments scope, Loss settlement other structures, Ordinance or law, Coverage forms, Property coverages, Liability coverages, HO-4 renters, HO-6 condominium, HO-3 special form, HO-5 comprehensive, 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. Under an open-peril homeowners dwelling coverage, a loss is covered unless what is true?

The peril is specifically excluded

Open-peril coverage pays for direct physical loss unless the cause is specifically excluded in the policy.

2. Homeowners personal property is commonly settled on what basis unless replacement cost is added?

Actual cash value

Personal property is typically settled at actual cash value unless the insured adds replacement cost coverage by endorsement.

3. To avoid a coinsurance penalty on the dwelling, the insured generally must insure to at least what?

A specified percentage of replacement cost, often 80 percent

Homeowners coinsurance generally requires insuring the dwelling to a stated percentage, commonly 80 percent, of replacement cost.

4. Personal liability coverage in a homeowners policy applies to bodily injury or property damage occurring where?

On the premises and, in many cases, away from the premises

Homeowners personal liability covers covered occurrences both on the insured premises and, in many situations, away from them.

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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.