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Idaho Property Practice Exam

20 exam-style questions drawn from the same bank as our full Idaho Property course (Idaho Insurance Producer - Property - Exam Prep). Answer all 20, then grade yourself — most state exams require 70% to pass. Explanations for every question are part of the full course.

1. Under 41-3607, how many directors sit on the association board?
Exactly seven at all timesAs many as the Director appointsNot less than five nor more than nineNot less than three nor more than five
2. An applicant for a homeowners policy never mentions that he stores 200 gallons of gasoline in a backyard shed. The application does not ask about fuel storage. After a fire, the carrier argues the insured concealed a material fact. Which is the correct analysis?
Concealment is impossible when the application does not ask the question, applying the strict ask-or-disclose rule that limits the doctrine to questions specifically printed on the formConcealment only applies to marine insurance, not property insurance, because the higher-disclosure standard rooted in maritime trade was never adopted for ordinary land-based risksConcealment always requires fraudulent intent which is impossible to prove without a confession from the insured, so the doctrine is effectively a dead letter in modern property insuranceConcealment requires the silence to be about a material fact the insured knew the insurer would want to know, courts may allow rescission if proven
3. An insured has $400,000 of BPP building coverage with 80% coinsurance. The building is valued at $600,000 at the time of a $50,000 loss. What is the loss payment, ignoring the deductible?
$41,667$33,333$60,000$50,000
4. Only the insurer makes legally enforceable promises in an insurance contract, the insured can stop paying premium and the policy simply lapses without further obligation. Which contract characteristic does this describe?
UnilateralAleatoryBilateralConditional
5. On a dwelling form, Coverage D refers to:
Personal liabilityLoss of use combined with ALEFair rental valueOther structures
6. Which statement correctly compares the DP-1 Basic Form and the DP-3 Special Form?
The DP-1 is open-peril with ACV settlement; the DP-3 is a named-peril form with replacement cost settlement on the dwellingBoth cover the same named perils on the dwelling, but the DP-3 adds built-in personal liability and medical paymentsDP-1 is a narrow named-peril form settling dwelling losses on ACV; DP-3 is open-peril and pays replacement cost on the dwellingBoth are open-peril on the dwelling, but the DP-1 settles losses on ACV while the DP-3 pays replacement cost
7. Under the ISO Building and Personal Property Coverage Form (CP 00 10), which of the following is NOT included as Covered Property under Your Business Personal Property?
Furniture and fixtures owned by the insuredStock (raw materials and finished goods)Land, water, or growing cropsLabor, materials, or services the insured has furnished on personal property of others
8. A contractor owns mobile equipment, backhoes, generators, small tools, used at multiple job sites. Which inland marine form is designed for this exposure?
Bailee's Customer FormTransportation FloaterAccounts Receivable FormContractors Equipment Floater
9. A 'pro rata' other insurance clause provides that when two or more policies cover the same loss, each insurer pays:
Exactly half of the deductible shown on each policy's declarations pageAn amount in proportion to its limit relative to total coverageThe full amount of the loss, with no apportionment between the carriersNothing until the other carrier's policy has been exhausted to its limit
10. The Nationwide Marine Definition divides inland marine into how many broad classes?
FourTwoEightSix
11. A mobile-home owner wants coverage tailored to a manufactured home on a private lot. Which form is most appropriate?
DP-1, because the dwelling form is the only product that contemplates structures resting on a chassis or piersHO-4, because manufactured homes are typically treated as contents rather than as a permanently affixed dwellingHO-7 Mobilehome (or the equivalent Mobile Home Endorsement to an HO policy)HO-3, written with a manufactured-home valuation endorsement to handle transportation and tie-down exposures
12. Which of the following is NOT one of the four elements a plaintiff must prove to establish negligence?
Intent to harmProximate cause of damagesDutyBreach of duty
13. An 'occurrence' is most commonly defined in liability policies as:
An accident, including continuous or repeated exposure to substantially the same general harmful conditionsA civil suit filed against the insured in any court of competent jurisdiction, which is the duty-to-defend trigger and not the occurrence definitionA formal written claim served on the insured by the third-party claimant, which is the trigger for a claims-made (not occurrence) formOnly an intentional act of the insured, which is the textbook definition of an excluded intentional injury rather than an occurrence
14. What is true of a certificate of authority under 41-111?
It covers all lines once issuedIt authorises producers as wellIt is permanent once grantedIt is specific to kinds of insurance
15. On an insurance application, statements made by the applicant are generally considered:
Warranties, they must be literally true in every detail or the policy is void from inception.Covenants, they bind both parties equally and may be enforced by either side in court.Opinions, they carry no legal weight and cannot be the basis for rescinding the policy.Representations, they must be substantially true to the best of the applicant's knowledge.
16. Where are workmen's compensation rates handled, rather than under chapter 14?
Under section 41-1619Under IDAPA 18.02.01Under section 41-1843Under section 41-1405
17. A Commercial Package Policy (CPP) combines what, at minimum, under one policy number?
Auto and workers' compensation only, packaged together because both lines are commonly written on the same renewal cycle for fleet accountsExactly one commercial line, typically commercial property only, combined with the matching set of state-mandated forms and endorsementsAny two personal-lines policies issued to the same named insured, such as a homeowners and personal-auto combination under one accountTwo or more commercial coverage parts (e.g., property + CGL, property + crime, etc.) under common declarations and conditions
18. Under a replacement cost policy for a dwelling, an insured has a $20,000 loss. The insurer initially pays how much, and under what condition will the depreciation holdback be released?
ACV initially; the depreciation holdback is released once the insured files a sworn proof of loss, whether or not repairs are made.ACV initially; the depreciation holdback is released once the insured actually repairs or replaces the damaged property.Nothing is paid until repairs are fully complete and inspected; the insurer then pays replacement cost in a single payment.Full replacement cost immediately on proof of loss; no conditions apply and no holdback is withheld by the insurer.
19. A personal umbrella policy responds only after underlying insurance is exhausted, AND:
Covers losses that were already submitted under a primary policy and denied, including disputes over coverage interpretation and claim-handling timingRequires the insured to maintain minimum underlying limits on auto, homeowners, and watercraft liabilityProvides first-dollar coverage for every kind of loss, replacing the deductibles and retentions that apply on the insured's underlying primary policiesReplaces the need for homeowners insurance entirely once umbrella limits exceed the value of the dwelling and the insured's other personal assets
20. The National Flood Insurance Program (NFIP) is administered by which federal agency?
The Federal Deposit Insurance Corporation (FDIC)The Federal Emergency Management Agency (FEMA)The Small Business Administration (SBA)The Department of Housing and Urban Development (HUD)

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