Victor,

The question is asking if the Dwelling Policy contains the following exclusions.  The answer is "yes".  The policy excludes all of the losses listed in the answer.  It doesn't have to list every exclusion in order to be true.

If I say "Apples, oranges and grapes are fruit." the statement is true even if I don't include pears, melon and peaches.  Be careful of these types of questions on the state exam.  Read the question twice and determine what is being asked and then answer only the question and try not to read other information into the question(s).

Please let me know if you have other question.

Jan