Property Insurance Quiz

17 Questions

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Property Management Quizzes & Trivia

Assessment on property insurance coverage, policies, and costs.


Questions and Answers
  • 1. 
    • A. 

      Insurance that protects you from the financial loss you would incur if some of your property were lost or destroyed due to fire, theft, vandalism, flood, or other hazards.

    • B. 

      Insurance that covers damage to a vehicle.

    • C. 

      Insurance that covers your health.

    • D. 

      Both Band C.

  • 2. 
    What three kinds of economic losses do property insurance protect you from?
    • A. 

      Additional living expenses

    • B. 

      Damage to home or property

    • C. 

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    • D. 

      Liability protection

  • 3. 
    Property insurance often covers additional living expenses.
    • A. 

      True

    • B. 

      False

  • 4. 
    • A. 

      Coverage on liability stuff.

    • B. 

      Coverage on personal stuff.

    • C. 

      Covers claims from injuries to people or damage to property cause by you, your family, or even your pets.

    • D. 

      Both A and B

  • 5. 
    What are perils?
    • A. 

      Causes of loss such as fire, wind, or theft.

    • B. 

      Death.

    • C. 

      A loss.

    • D. 

      Both B and C

  • 6. 
    What is the difference between real and personal property?
    • A. 

      Real

    • B. 

      Personal

    • C. 

      Real property is permanently attached to land and personal property is not.

    • D. 

      Both A and B.

  • 7. 
    What is the most common form of home and property insurance policy?
    • A. 

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    • B. 

      Homeowners’ policy.

    • C. 

      Pet policy.

    • D. 

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  • 8. 
    Personal liability coverage is not included with all forms of homeowners’ policy.
    • A. 

      True

    • B. 

      False

  • 9. 
    What are the three most common forms of homeowners’ policy?
    • A. 

      Basic form

    • B. 

      Love form

    • C. 

      Special form

    • D. 

      Broad form

  • 10. 
    What is renters’ policy?
    • A. 

      For owners.

    • B. 

      For pets.

    • C. 

      Both A and B

    • D. 

      Property and liability policy suitable for renters.

  • 11. 
    A renters’ policy may include personal liability coverage, but it doesn’t protect the actual dwelling.
    • A. 

      True

    • B. 

      False

  • 12. 
    Give an example of when you would need a special coverage policy?
    • A. 

      When a flood or earthquake occurs.

    • B. 

      When i break my back.

    • C. 

      When i drop a glass cup.

    • D. 

      Both B and C

  • 13. 
    What is inventory?
    • A. 

      List of food.

    • B. 

      List of personal property that you have insured.

    • C. 

      List of needs

    • D. 

      Both A and C

  • 14. 
    What three things should the inventory list include?
    • A. 

      The brand name and description of the item.

    • B. 

      Bye.

    • C. 

      The purchase price.

    • D. 

      The date and place of the purchase.

  • 15. 
    What is depreciation?
    • A. 

      A increase in value.

    • B. 

      A decrease in value.

    • C. 

      Love

    • D. 

      Hate

  • 16. 
    Special care should not be taken to correctly estimate the value of personal property.
    • A. 

      True

    • B. 

      False

  • 17. 
    • A. 

      Insurance company’s past experiences

    • B. 

      The value of property insured

    • C. 

      Construction of the building

    • D. 

      Number of claims on the property

    • E. 

      Type of policy

    • F. 

      Distance to the nearest fire department and water supply

    • G. 

      Amount of deductible

    • H. 

      Credit rating of the insured