Chapter 10 Test A

Chapter 10 Test A - Chapter 10 Test A 1. An automobile...

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Chapter 10 Test A 1. An automobile covered under a policy with a $500 collision deductible is damaged in a collision with a fence. It could be repaired for $15,000, replacement cost is $25,000, and the depreciation and physical condition deduction is $5,000. How much will the insurance company pay? a. $24,500 b. $7,500 c. $15,000 d. $14,500 e. Some other amount 2. All property insurance companies require you to show the following when making a claim: a. Proof of loss b. Personal property inventory c. Values at the time of inventory d. All of the above. 3. The asset most likely to be specifically itemized in a property insurance endorsement is a. sofa. b. clothing. c. jewelry. d. garden equipment. e. all of these. 4. Your standard HO policy will not include coverage for damage done by a. flood. b. windstorm. c. falling objects. d. wind. e. theft. 5. A standard HO policy covers damage from most weather-related perils except a. snow and freezing. b. windstorms and earthquakes. c. earthquakes and floods. d. floods and volcanic eruption. e. Freezing and volcanic eruption. 6. A liability suit could result when a. lightning strikes your home. b. your son falls down the stairs of your home. c. your auto is stolen. d. your dog bites the neighbor. e. smoke from the fireplace fills your house. 7. Which Homeowners' policy is best suited for a resident of a rented apartment to cover that person's personal property? a. HO-3
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This note was uploaded on 03/15/2011 for the course ECON 201 taught by Professor Sung during the Spring '08 term at Indiana.

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Chapter 10 Test A - Chapter 10 Test A 1. An automobile...

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