Quiz #11 - Results

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Old Dominion University *

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345

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Finance

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Apr 3, 2024

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Results 10 Out of 10 points Time for this attempt This assessment is locked. Your Answers: 1 / 1 point Which of the following losses in not covered by a standard homeowners policy? 1 / 1 point Homeowners policies provide coverage for losses from which of the following? Attempt History Results Points Score (Highest score is kept) Theft. Personal liability. Personal vehicle. Medical payments. 100% 1 2
1 / 1 point The standard form of the homeowners policy Coverage C excludes which of the following? Feedback Based on answering correctly Animals, birds, and ±sh are generally excluded under Coverage C, although liability coverage may be available for pets under Coverage E. 1 / 1 point Which of the following clauses states that full payment of damages to structures under the homeowners policy will be made only if the insurance equals 80 or more percent of the replacement cost of the structure and is carried on the property at the time of the loss? 1 / 1 point Fire or other listed perils. Loss of use. Personal property. All of the above. Personal liability. Theft. Animals, birds, and ±sh. Fire and other perils. Reinsurance clause. Replacement clause Coinsurance clause. In²ation rider clause. 3 4 5
Homeowners policies have limits for items such as rare coins and jewelry. Which of the following should an insured homeowner consider obtaining if they have signi±cant investments in these items? 1 / 1 point Which of the following is not a category of property risk? 1 / 1 point Devish has an HO3 policy with $100,000 of coverage under Coverage E, liability. He also has an umbrella liability policy for $2 million, which requires underlying liability coverage in the homeowners policy of $250,000. Devish’s friend slipped on the icy steps when coming to visit and sustained serious injuries, resulting in a liability claim of $800,000. What amount will be covered by the umbrella policy? 1 / 1 point Rizzo has a replacement cost homeowners policy. The value of the home is $450,000, and she carries $350,000 of insurance. How much would the insurance company owe her in the event of a $100,000 loss due to ±re (without regard to a deductible)? A personal liability insurance rider. A professional liability insurance rider. A scheduled personal property endorsement. An automatic in²ation adjustment endorsement. Financial loss resulting from death or disability of a guest. Loss of property due to ±re, wind, theft, or others hazards. Liability losses resulting from negligent use of property. Loss of value from economic obsolescence. $0. $550,000. $700,000. $800,000. 6 7 8
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1 / 1 point Karma Kamilyon has a personal auto policy (PAP) that covers the sleek new convertible she recently purchased. If Karma’s convertible is damaged when she collides with a deer, which part of the auto policy will cover the damage? 1 / 1 point Zuko’s stereo was stolen. The stereo cost $1,500 new but has a fair market value of $750. If Zuko has a homeowners policy that covers losses for personal property for ACV, what amount is Zuko entitled to recover? $80,000. $85,000. $97,222. $100,000. Part A. Part B. Part C. Part D. $600 $750. $1,500. The current retail price for a new replacement stereo. 9 10