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

Free Homeowners Policy Concepts Practice Questions

Maryland Property & Casualty exam — 36 practice questions.

Subtopics: HO-2 broad form, HO-5 comprehensive, HO-8 modified, Special limits, Other structures limit, Off-premises property, Ordinance or law, Inflation guard, Coverage forms, Property coverages, Liability coverages, HO-4 renters, HO-6 condominium, HO-3 special form, 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 contents on:

A named-peril basis covering a broad list of perils

HO-2 is a named-peril (broad form) policy covering the dwelling and personal property against an expanded list of specified perils.

2. The HO-5 (comprehensive form) differs from HO-3 mainly by insuring personal property on:

An open-peril basis

HO-5 provides open-peril coverage on both the dwelling and personal property, broader than HO-3 (which is named-peril on contents).

3. The HO-8 (modified) form is intended for:

Older homes where replacement cost greatly exceeds market value

HO-8 is designed for older homes, often settling losses on a modified/functional or actual cash value basis rather than full replacement cost.

4. Homeowners policies commonly place special dollar sublimits on:

Categories such as cash, jewelry, and firearms

Special limits cap recovery on certain easily stolen or high-value categories like money, jewelry, watches, and firearms unless scheduled.

All Property & Casualty topics

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.