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Pearson VUE Property Insurance Exam 2 | Real Estate Prep Guide with 80 Q&As 2025, Exams of Nursing

Frontier Nursing University (FNU)Nursing

Prepare for the Pearson VUE Property Insurance Exam 2 with this 80-question guide featuring verified answers. Covers deeds, ownership, land rights, legal descriptions, and more. Ideal for real estate and insurance test prep. Pearson VUE, Pearson insurance exam, property insurance exam, real estate exam, insurance test prep, property and casualty, real estate license, insurance practice test, real estate study guide, exam questions, deeds, land ownership, joint tenancy, metes and bounds, real property, real estate fundamentals

Typology: Exams

2024/2025

Available from 07/17/2025

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Pearson Vue Property Insurance Exam
Practice Questions with Verified Answers
100% Guarantee passing score of 90% or higher
Consist of 80 multichoice Questions with Answers
1. One of the following policies covers Mobile Homes:
a. Dp-1
b. Dp-2
c. Dp-3
d. Ho-4
Answer Dp-1
2. On a dwelling policy, personal property would be covered at:
a. ACV
b. Replacement Cost
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Download Pearson VUE Property Insurance Exam 2 | Real Estate Prep Guide with 80 Q&As 2025 and more Exams Nursing in PDF only on Docsity!

Pearson Vue Property Insurance Exam

Practice Questions with Verified Answers

100% Guarantee passing score of 90% or higher

Consist of 80 multichoice Questions with Answers

  1. One of the following policies covers Mobile Homes:

a. Dp- b. Dp- c. Dp- d. Ho- Answer Dp-

  1. On a dwelling policy, personal property would be covered at:

a. ACV b. Replacement Cost

c. Not covered d. 80% of Value Answer ACV

  1. DP-1 would cover all of the following without endorsement except:

a. other structures b. personal property c. rental value d. additional living expense Answer additional living expense

  1. One of the following would be covered on a dwelling policy without an endorsement:

a. Theft b. Earthquake c. Personal Liability d. Mobile Home Answer Mobile Home

  1. Coverage C on the dwelling policy would be:
  1. When the insured is needed to help defend a claim, a homeowners policy would pay the insured daily for attending court:

a.$25 b.$ 50 c.$ d.$ 100 Answer$

  1. all of the following businesses are excluded on a business owners policy except:

a. retail store b.garage c.liquor store d.service station Answer retail store

  1. Business risk coverage will cease for the following reasons except:

a.builder sells property

b. day after construction is complete c.policy is cancelled d. builder abandons and will not complete Answer day after construction is complete

  1. to purchase flood insurance you must live in:

a. flood prone area b.proximity of water c.mobile home d.none of theses Answer flood prone area

  1. who pays the claims for flood insurance:

a. only paid by the private companies b. government c. N.A.I.C d. ISO Answer government

  1. coverage for boiler & machinery policies are at:

a. ACV b.replacement cost c.0 % of value d. 80% of value Answerreplacement cost

  1. Actual cash value means:

a. price paid for property b.replacement cost c.replacement cost less depreciation d. none of these Answerreplacement cost less depreciation

  1. under a standard fire policy, vacant or unoccupied buildings are covered for:

a.10 days b.30 days c.60 days d.90 days

Answer60 days

  1. under standard fire policy, vandalism would be covered on vacant or unoccupied buildings for:

a.10 days b.30 days c. 60 days d.90 days Answer30 days

  1. Settlement on a standard fire policy is made by:

a. ACV b. replacement cost c.arbitration d.appraisal Answer ACV

  1. this would stop a abandoning property to the insurance company to claim a total loss:

a.vacancy clause b.abandonment clause c.unoccupied clause

  1. the chance of a loss or uncertainty is:

a.risk b.hazard c.peril d.loss Answerrisk

  1. anything that increases the likelihood of an event occurring:

a.risk b.hazard c.peril d.loss Answerhazard

  1. the cause of a loss

a.risk b.hazard c.peril d.loss Answerperil (example: fire)

  1. insurable interest must exist:

a.at policy issue date b.at the time of loss c.both a&b d.never Answerat the time of loss

  1. a values policy requires on a total loss:

a.homeowners policy b.outboard policy c.yacht policy d.o cean marine policy Answeryacht policy

  1. placing a gasoline can near a heater is what kind of hazard:

a.moral b.legal c.morale d.p hysical Answermorale

  1. Under the pairs and set clause if the value of the set (6 plates) is $60,000. If one of the insured plates is destroyed making the remaining 5 plates worth only $5000 each, what would the policy pay if an exact duplicate plate could not be found:

a.$10, b.$25, c.$30, d.$35, Answer$35,

Value before loss- value after loss= what insures pay

$60,000- $25,000 (5 plates x $5000 how much each is worth after loss)= $35,

  1. this clause establishes the right of the insured to demand this where agreement concerning the value of the property or the amount of the loss cannot be reached:

a. additional supplementary payments b.proof of loss c.nonrenewal provision d.a ppraisal condition Answerappraisal condition

when either party (insurer or insured) cannot agree on the amount of the loss or the value of the property they can request an appraisal.

  1. the termination of the insurance by voluntary act of the insurance company or the insured is called:

a.nonrenewal b.cancellation

Answerfirst names insured

  1. **(REVIEW) any denial of a claim to the insured because of a failure to comply with the terms of the policy shall not apply to the mortgagee means the mortgage holder may still have a right to payments for any loss:

a.if it notifies the insurer or any change in the risk, ownership or occupancy of the property b.submits a signed proof of loss c.pays any premium the insured has failed to pay d.all of the above Answerall of the above

  1. this is a basic form used to insure on an itemized or scheduled basis certain classes of personal property is:

a.PAF b.PPF c.PEF d.commercial floaters AnswerPAF

  1. property value is $300,000. Insurance carried is $200,000. if 80% coinsur- ance is required, what would the policy pay if there was a $60,000 loss and the

deductible was $250:

a.$49, b.$59, c.$60, d.$50, Answer$49, IC/IR(80% x property value)x amount loss=Insurer pays- deductible (IR=.80 x 300,000) $200,000/$240,000 x $60,000=$50,000-$250=$49,

  1. a commercial property standard deductible:

a.$ b.$ c.$ d.$ Answer$

  1. Personal property of a business located in or on the premises would include personal property of a business or others property in insured's care, custody or control within (blank) ft of the premises while in a vehicle or out in the open:

a.

  1. "all risk" or "special" coverage refers to:

a.covers everything b.names the perils covered c.lists all the exclusions d.none of these Answerlists all the exclusions

  1. failure to do what a reasonable and prudent person should do under given circumstances:

a.occurrance b.proximate clause c.negligence d.subrogation Answernegligence

  1. the purpose of coinsurance (insurance to value) is to encourage people to carry a reasonable amount of insurance. this keeps rates:

a.higher b.reasonable c.unreasonable d.excessive

Answerreasonable

  1. insurance is:

a.sharing equally with the insurance company future loss b.transferring that insured's uncertain risk to an insurance company c.covers certainties that happen d.covers losses that are expected Answertransferring that insured's uncertain risk to an insurance company

  1. the antique furniture that was destroyed in a fire is a (blank) loss:

a.direct b.indirect c.consequential d.mysterious disappearance Answerdirect

  1. an uninterested chain of events beginning with negligence that causes BI or PD

a.named insured b.proximate cause