1. David has a Homeowners 3 policy that provides $280,000 of insurance on his dwelling, which has a current replacement value of $400,000. Ignoring any deductible, how much will David collect if a roof with a replacement value of $16,000 but an actual cash value of $10,000 is destroyed in a fire? a. $10,000 b. $12,000 c. $14,000 d. $16,000 2. Which of the following is not typically an endorsement available on homeowners insurance policies? a. Earthquake coverage endorsement b. Inflation guard endorsement c. Personal injury endorsement d. All of the above are typical endorsements 3. Which of the following statements regarding an HO-3 homeowners insurance policy is (are) true? I. Section I covers property damage and liability II. Section II covers medical expenses paid to others III. Both Section I and Section II cover full-time students away from home a. I only b. II only c. III only d. I and III e. II and III 4. Section I of the HO-3 homeowners policy provides coverage for which of the following a. loss of use b. personal liability c. disability of the homeowner d. medical payments e. all of the above