# Property & Casualty Exam Prep 24, Dwelling Policy Perils and Loss Settlement

Page: https://stenobird.com/podcast/insurance-exam-prep-7644557/property-casualty-exam-prep-24-dwelling-policy-perils-and-loss-settlement
Text version: https://stenobird.com/podcast/insurance-exam-prep-7644557/property-casualty-exam-prep-24-dwelling-policy-perils-and-loss-settlement.md
Podcast: [Insurance Exam Prep](https://stenobird.com/podcast/insurance-exam-prep-7644557)
Published: 2026-06-26T23:26:01+00:00
Episode link: https://open-exam-prep.com/
Audio file: https://episodes.captivate.fm/episode/fa8c5be3-5c2c-4ecf-b72f-2c8ebeeef5b5.mp3
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Duration seconds: 200

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That the DP-1 is a basic, named-peril policy that pays all claims on an Actual Cash Value basis. - How the DP-2 broadens coverage with more named perils and introduces Replacement Cost for the dwelling. - Why the DP-3 offers superior open-peril coverage for the dwelling but retains named-peril coverage for personal property. - That theft of personal property is not a standard peril on any Dwelling Policy form and must be added by endorsement. - How the 80% coinsurance rule is critical for receiving Replacement Cost settlement on the DP-2 and DP-3. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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