7. In regards to the Terrorism Risk Insurance Act
(TRIA), an act of terrorism must be certified by
A. the Treasury Secretary, the Attorney
General, and the Secretary of Homeland
Security
B. Secretary of State and the President
C. Congress
D. The President
8. Which one of the following types of property
cannot be covered by a dwelling policy?
A. Vacation homes
B. Rental home unoccupied by the owner
C. Farm houses
D. Duplex condominiums
9. A statement made on an application that is
guaranteed to be true is a
A. misrepresentation
B. representation
C. promise
D. warranty
10. An individual who rents an apartment can
obtain broad coverage for personal property in
the apartment under which homeowners form?
A. HO-6
B. HO-5
C. HO-4
D. HO-2
11. One of the elements of a valid contract is that
it involves consideration. In an insurance
contract, the consideration that the insured
gives is the
A. deductible
B. premium payment
C. promise to pay for covered losses
D. commission
12. The insured’s property insurance policy has a
deductible clause. This is
A. any losses paid to a third party which are
deducted from the policy limit
B. the dollar amount an insured must pay
before the insurer will pay for covered losses
C. the amount the insured must deduct from a
claim payment reducing the policy limit
D. the amount the insured deducts from any
future premium payments.
In-Class_Property_Ins_Exam_1e_RetakeB.indd 1
what are the answers for these insurance questions ?

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