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  4. Personal Lines Policy Provisions

Free Personal Lines Policy Provisions Practice Questions

Mississippi Personal Lines exam — 71 practice questions.

Subtopics: Insurable interest, Deductible effect, Subrogation, Pro rata cancellation, Binder, Declarations page, Endorsement, Other insurance, Vacancy vs unoccupancy, Liberalization, HO purpose, HO-3 special form, HO-5 comprehensive, HO-4 renters, HO-6 condo, HO-8 modified, Coverage A, Coverage B, Coverage C, Coverage D, Coverage E, Coverage F, Medical payments exclusion, Special limits jewelry, Scheduled personal property, Coverage C off-premises, Replacement cost dwelling, Personal property loss settlement, Liability exclusion business, Liability exclusion intentional, Auto exclusion, Additional coverage debris removal, Loss assessment, Ordinance or law, Water backup endorsement, Earthquake exclusion, Flood exclusion, Section II exclusion own injury, Eligibility owner-occupied, Identity theft endorsement, HO-2 broad form, Coverage B default, Coverage D default, Trees shrubs plants limit, Credit card forgery coverage, Fire department service charge, Collapse coverage, Reasonable repairs, Property removed, Special limit money, Special limit securities, Special limit silverware theft, Special limit firearms theft, Special limit business property, Off-premises property limit, Mold limitation, Section I deductible, Damage to property of others, First aid expenses, Claim expenses, Business pursuits endorsement, Permitted incidental occupancy, Watercraft liability, Personal injury endorsement, Insured location definition, Residence premises definition, Property of others under Coverage C, Severability of insurance, Refrigerated property endorsement, Building materials under Coverage A, Coinsurance calculation

Sample questions & answers

1. For a Mississippi homeowners policy to be valid, the insured must have an insurable interest in the property:

at the time of loss

Property insurance requires an insurable interest in the covered property at the time of loss.

2. Raising the deductible on a Mississippi homeowners policy will generally:

lower the premium

A higher deductible shifts more of the small-loss risk to the insured and generally lowers the premium.

3. After paying a Mississippi insured's claim, the insurer's right to recover from the at-fault party is called:

subrogation

Subrogation allows the insurer, after paying a claim, to pursue recovery from the party legally responsible for the loss.

4. A Mississippi homeowners policy with a $960 annual premium is cancelled by the insurer 90 days into the year on a pro rata basis. The premium retained by the insurer is approximately:

$240

Ninety days is about one quarter of the year, so the insurer retains roughly $960 x 90/365 = about $237, closest to $240.

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Practice: Personal Lines Policy Provisions

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.