Explanation should include types of homeowner’s insurance and whether each is optional or mandatory

Explanation also should address the concepts of replacement cost, actual cash value, and depreciation, and how coinsurance would be applied to a specific homeowner’s policy.

DPOR correlations: 18VAC135-20-400. 10 (Home ownership); 18VAC135-20-400. 11 (Real property and title insurance)

Process/Skill Questions: