Exam questions to IS 1110.A Writing Commercial Exposures. You may be interested in our FEMA IS 1110.A Answer Key.
To meet the NFIP’s “single building” definition, the building must be:
A. Separated from other buildings by intervening clear space
B. Separated into divisions by solid, vertical, load-bearing walls
C. Solid, vertical, load-bearing walls must divide the building from its lowest level to its highest ceiling
D. All of the above
E. None of the above
The maximum available building coverage limit for an Other Residential building is:
A. $50,000
B. $100,000
C. $250,000
D. $500,000
The maximum available building coverage limit for all non-residential buildings is:
A. $50,000
B. $100,000
C. $250,000
D. $500,000
The General Property Form applies only to non-residential buildings.
A. TRUE
B. FALSE
Commercial condominium unit owners can purchase building coverage up to a maximum of:
A. $0. Building coverage may not be purchased in the name of the unit owner.
B. $250,000
C. $500,000
D. $1,000,000
Coverage for a tenant’s improvements and betterments is limited to_______ of the policy’s contents limit.
A. 5%
B. 10%
C. 20%
D. 50%
The maximum deductible option for all non-residential buildings is:
A. $5,000
B. $10,000
C. $25,000
D. $50,000
Which one of the following is NOT one of the five Additions and Extensions connectors in the Standard Flood Insurance Policy?
A. A stairway
B. A roof
C. A rigid exterior wall
D. A patio
E. An elevated walkway
The maximum available contents limit for an Other Residential building is:
A. $50,000
B. $100,000
C. $250,000
D. $500,000
Under the General Property Form, if the policy covers “other than household personal property,” coverage is included except for?
A. Machinery & equipment
B. Stock
C. Furniture & fixtures
D. A guest’s personal property
Losses on all non-residential buildings are settled on an Actual Cash Value basis in the NFIP.
A. TRUE
B. FALSE
A nursing home is classified as:
A. An other non-residential building
B. A non-residential business building
C. A residential building
D. A habitational building
The Standard Flood Insurance Policy offers a blanket coverage limit for a policy with multiple buildings located in various states around the country.
A. TRUE
B. FALSE
Which of the following is a Standard Flood Insurance Policy form used to write a commercial building with less than 75% of its floor area in residential use?
A. The General Property Form
B. The Residential Condominium Building Association Policy
C. The Dwelling Form
D. The Commercial Property Form
The actions that Increased Cost of Compliance coverage will pay for to bring a flood-damaged building into compliance are:
A. Escalating, Removing, Floodproofing, Demolishing
B. Elevating, Relocating, Floodproofing, Dismantling
C. Elevating, Restoring, Floodproofing, Demolishing
D. Elevating, Relocating, Floodproofing, Demolishing
A mixed-use building is classified as a non-residential building if it is less than _______ residential.
A. 25%
B. 50%
C. 75%
D. 80%
The maximum deductible option for an Other Residential building is:
A. $5,000
B. $10,000
C. $25,000
D. $50,000
The Residential Condominium Building Association Policy is the only Standard Flood Insurance Policy form without a coinsurance clause.
A. FALSE
B. TRUE
Non-residential condominium buildings can be insured for up to $500,000 times the number of units in the building.
A. FALSE
B. TRUE
Which of the following is an Other Residential building in the NFIP?
A. An assisted living facility
B. A duplex home
C. A hospital
D. A grain silo
Cooperative buildings are written using the General Property Form.
A. TRUE
B. FALSE
Retail stores, banks, movie theaters, restaurants, and gas stations are all examples of non-residential business buildings in the NFIP.
A. TRUE
B. FALSE
The maximum limit of coverage for a 100-unit residential condominium building written under the Residential Condominium Building Association Policy is:
A. $25 million
B. $50 million
C. $75 million
D. $100 million
A 5-unit rooming house with a normal guest occupancy of six months or more is an Other Residential building.
A. TRUE
B. FALSE
Which of the following is an example of an ineligible risk in the NFIP?
A. A grain silo
B. A pole barn with two walls and a roof
C. An open stadium
D. A detached garage
Other Residential buildings and all non-residential buildings are always covered under the General Property Form.
A. TRUE
B. FALSE
Pollution damage is limited in the General Property Form to:
A. $10,000
B. $50,000
C. $100,000
D. $500,000
The General Property Form and the Residential Condominium Building Association Policy automatically include contents coverage.
A. TRUE
B. FALSE
If building coverage is purchased by a tenant due to a lease agreement:
A. The building owner and tenant may each write separate policies to cover the building
B. The building owner must be named on the policy
C. The building owner cannot be named on the policy
D. The tenant cannot be named as an additional insured
The Standard Flood Insurance Policy provides business interruption coverage up to the policy’s Coverage C limit.
A. TRUE
B. FALSE
Commercial contents in a residential building can be covered under the General Property Form.
A. TRUE
B. FALSE
The Standard Flood Insurance Policy is always primary, and any other policy that includes flood coverage on the same building is excess.
A. TRUE
B. FALSE
The Special Limits clause limits coverage for art work, jewelry, furs, collectibles, and other named valuable items to:
A. $1,500
B. $2,500
C. $3,500
D. $4,500
The Preferred Risk Policy is not available for any commercial exposure.
A. TRUE
B. FALSE
Which of the following contents items is covered under the General Property Form?
A. A bathroom hot tub
B. A swimming pool
C. A watercraft
D. An aircraft
Condominium buildings that are at least 75% residential are written on the:
A. General Property Form
B. Residential Condominium Building Association Policy
C. Condominium Master Form
D. Commercial Property Form
The maximum available contents limit for all non-residential buildings is:
A. $50,000
B. $100,000
C. $250,000
D. $500,000