Property & Casualty Insurance — Homeowners, Dwelling & Flood flashcards
10 of 73 cards free to study here · 3 topics · the whole deck is built into Willys
The ISO homeowners forms HO-2 to HO-8, Coverages A to F, perils, exclusions, special limits and loss settlement, Section II liability, endorsements, the DP-1, DP-2 and DP-3, and NFIP flood and earthquake coverage.
Learn deck · part of Property and casualty insurance producer licence (national portion) · written against: Property and casualty concepts common to state producer exams; ISO personal and commercial forms as commonly taught; state law excluded. Updated 2026-10-10.
Study the free sample
10 cards from the deck as they are. Flip, rate yourself, filter by topic; your progress stays in this browser.
Tap the card or press Space to flip
The 10 sample cards as a list
-
Which homeowners form is written for a renter, and what does it cover in place of a dwelling?The HO-4 (contents broad form), which covers the tenant's personal property, loss of use and personal liability.Homeowners › Forms & Insureds
Why: a renter does not own the building, so there is no Coverage A; improvements the tenant made to the unit get only a limited additional coverage. -
A condominium owner needs coverage for her furniture and for the cabinets and flooring she installed in her unit. Which homeowners form fits?The HO-6 (unit-owners form).Homeowners › Forms & Insureds
Why: the association's master policy insures the building, while the HO-6 covers the owner's personal property and, under its Coverage A, the interior alterations and fixtures the owner is responsible for. -
Which homeowners form gives open-perils coverage on both the dwelling and personal property?The HO-5 (comprehensive form).Homeowners › Forms & Insureds
Why: the HO-3 covers the dwelling on an open-perils basis but personal property only against named perils. -
How does the HO-3 insure the dwelling compared with the personal property inside it?The dwelling and other structures are open perils; personal property is broad named perils.Homeowners › Forms & Insureds
Why: that split belongs to the HO-3, the special form, the most widely sold homeowners policy. -
How does a dwelling policy differ most from a homeowners policy?It insures property only, with no built-in liability or medical payments coverage.Dwelling Policies
Why: an owner who needs liability adds a personal liability supplement or buys it separately. -
A landlord owns a rented house she does not live in. Why is a dwelling policy the usual choice instead of an HO-3?Homeowners forms are written for owner-occupants, while dwelling policies can insure rental and other non-owner-occupied homes.Dwelling Policies
Why: dwelling forms also suit homes that do not meet an insurer's homeowners eligibility rules. -
Which perils does the DP-1 basic form cover before any optional perils are added?Fire, lightning and internal explosion.Dwelling Policies
Why: the extended coverage perils, such as windstorm, hail and smoke, and vandalism and malicious mischief, are added for an extra premium. -
How does the NFIP define a flood?A temporary, general inundation of normally dry land covering at least two acres or at least two properties, one of them the insured's.Flood & Earthquake › Flood
Why: the water must come from overflow of inland or tidal waters, unusual and rapid runoff of surface water, or mudflow; a burst pipe flooding one house is not a flood. -
A homeowner buys an NFIP flood policy with no loan involved. When does coverage begin?After the standard 30-day waiting period.Flood & Earthquake › Flood
Watch out: the wait counts from the application date, once the premium is paid. -
A buyer must have flood insurance to close on a mortgage for a house in a high-risk zone. Does the 30-day wait apply?No: there is no waiting period when the policy is bought in connection with making, increasing, extending or renewing a loan.Flood & Earthquake › Flood
Why: coverage can take effect at loan closing, provided the application and premium are submitted on time.
Unlock the whole deck
You are studying a free 10-card sample. All 73 cards of Property & Casualty Insurance — Homeowners, Dwelling & Flood, the other 5 Property and casualty insurance producer licence (national portion) decks, and spaced-repetition scheduling are built into Willys. 14-day free trial, then $14.99 a year.
In Willys, tap Exam Library at the top of your Decks (or Browse Exam Library… under the + button), find the exam on its shelf or by search, tick it and tap Add.
More Property and casualty insurance producer licence (national portion) decks
← All Property and casualty insurance producer licence (national portion) decks, with the study guide and topic outline.
About these cards
Review status: Second-reader reviewed, with corrections applied.
Checked against:
- Policy provisions described from the ISO personal and commercial forms as commonly taught on licensing exams (homeowners, dwelling, personal auto, commercial property, CGL), in our own words; no form text reproduced. Edition differences and state amendatory endorsements vary.
- NFIP items checked against FEMA flood insurance publications, 44 CFR Part 61 (Standard Flood Insurance Policy Dwelling Form, Appendix A(1); effective dates, 61.11) and 42 U.S.C. 4013 (public domain U.S. government sources; no text copied).
- General insurance and tort principles written from author knowledge; no textbook, prep-course or question-bank text copied. National content only: state insurance law, fees and figures indexed yearly are excluded.
- Inflation guard endorsement checked against an Alaska Division of Insurance consumer publication (2022) (reference only; no text copied).
- Dwelling theft eligibility checked against the ISO Dwelling Policy Program Manual theft rule (2003 edition, North Carolina filed copy) (reference only; no text copied).
- Homeowners coverage relationships and inflation guard checked against ISO's Homeowners Policy Program Manual, Multistate General Rules (2011 revision, Rules 101 and 405), as filed with the North Carolina Department of Insurance (reference only; no text copied).
These are independent study notes written for Willys. They are not official exam material, may contain mistakes, and are no substitute for your course, your teacher or the exam owner's own publications. Found an error? Tell us — corrections ship as a new version of the deck.
Not insurance or legal advice. These cards cover the national portion of the producer licensing exam only. State insurance law and your state's exam content are not included; check your state's insurance department and its candidate handbook.
Use of these pages is covered by our Terms of Use.