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Losses and Perils

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Question 1 of 9

1. Question
Susie’s car was damaged in a hail storm. The damage to her car is
- a consequential loss.
- an indirect loss.
- a direct loss.
- an open loss.
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Question 2 of 9

2. Question
While Susie’s car was in the repair shop getting fixed after an accident, her insurance paid for her to rent a car. The cost of the rental car is known as what type of loss?
- a direct loss.
- a named loss.
- an indirect loss.
- an open loss.
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Question 3 of 9

3. Question
Edward has a special form homeowners insurance policy. What type of coverage does Edward have?
- basic form
- broad form
- named peril
- open peril
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Question 4 of 9

4. Question
What is another name for an indirect loss?
- consequential loss
- open peril
- direct loss
- named peril
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Question 5 of 9

5. Question
Which is true about named peril coverage?
- It specifically lists all perils that are covered.
- All unmentioned perils are automatically included.
- Special form policies provide named peril coverage.
- Named peril coverage is better than open peril coverage, because more perils are covered.
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Question 6 of 9

6. Question
Which is an example of an indirect loss?
- Wind causes $25,000 damage to a restaurant's serving area.
- A restaurant loses $50,000 in lost income due to a gas explosion.
- A fire causes $10,000 damage to a restaurant's kitchen.
- A restaurant suffers $15,000 damage to its walls and floor when the fire department sprays water to put out a fire.
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Question 7 of 9

7. Question
Samuel has a broad form homeowners insurance policy. What type of coverage does Samuel have?
- basic peril
- open peril
- indirect peril
- named peril
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Question 8 of 9

8. Question
Which is true about open peril coverage?
- Basic form and broad form policies provide open peril coverage.
- Special form policies provide open peril coverage.
- Policies that provide open peril coverage only cover indirect losses.
- It specifically lists all perils that are covered.
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Question 9 of 9

9. Question
What are the two main types of indirect loss?
- open peril and named peril
- special and general
- basic and broad
- loss of income and extra expenses
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