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Real Estate Principles

Business

Quiz 23 :

Property Insurance

Quiz 23 :

Property Insurance

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The money paid for insurance is called the insurance
Free
Multiple Choice
Answer:

Answer:

D
The money paid for insurance is called the insurance premium.

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The financial responsibility which one has to others as a result of one's actions or negligence is known as
Free
Multiple Choice
Answer:

Answer:

C
The financial responsibility which one has to others as a result of one's actions or negligence is known as either personal liability or public liability.

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The New York fire insurance form
Free
Multiple Choice
Answer:

Answer:

C
The New York fire insurance form was originally enacted by the legislature of New York and provides the foundation for most property damage insurance policies in this country.

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A property damage or public liability policy
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A homeowner's insurance policy will NOT protect against which of the following?
Multiple Choice
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Coverage for additional perils can be obtained by
Multiple Choice
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The concept of insurance is to
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An insurance policy which fixes the insurance company's liability to the insured to the actual cash value of the insured property is said to provide
Multiple Choice
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If a property is rented, the landlord should make certain that he has
Multiple Choice
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Coverage under any homeowner policy can be extended by adding endorsements covering
Multiple Choice
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Medical payments provided under a homeowner policy can be paid to
Multiple Choice
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The New York fire insurance form does not provide coverage for losses
Multiple Choice
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An insurance endorsement is also known as
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A typical HO-A homeowner's policy covers damage caused by
Multiple Choice
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The inflation guard endorsements are available and automatically increase property damage coverage by
Multiple Choice
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As an owner of real estate, one is exposed to losses by
Multiple Choice
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When a property is mortgaged to a lending institution, the lender will usually require the owner to provide
Multiple Choice
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The liability coverage of a homeowner policy
Multiple Choice
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The war clause exemption in property insurance policies includes losses or damage caused by
Multiple Choice
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A typical homeowner insurance policy does not cover
Multiple Choice
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