Test your basic knowledge |

Commercial Casualty Insurance Exam Commercial Lines

Subject : certifications
Instructions:
  • Answer 32 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Coverage A: BI/PD (Occurrence) - Coverage B: PI/AI (offense) - Coverage C: Medical Payments (no fault)






2. More Appropriately Insured Elsewhere - Catastrophe






3. Injury - Sickness or Disease - including death






4. Named Insured - unless LLC - JV or Partnership - then NO






5. Indemnitor, Indemnitee, Injured Party






6. Dangerous Instrumentality - use of guns - lions






7. Physical injury to tangible property - loss of use of tangible property - electronic data is not considered tangible property






8. Compensatory - Punitive






9. Dram Shop - Statute of Limitation or Repose - Comparative Negligience - Workers Comp






10. 1. Lease of premises 2. Sidetrack Agreement (Railroad) 3. Easement or license agreement 4. Municipality - Indemnify a municipality 5. Elevator Maintenance 6. Any other written contract where you assume a tort liability






11. Expected or Intended Injury (Bar Fight)






12. 1. Duty owed 2. Breach of that duty 3. Insured's action caused damages 4. Proximate or actual cause between breach and damages. 5. Proven by plaintiff






13. Statutes impose restrictions on insurability; imposed to deter or punish






14. Occurrence means...






15. Product recall - data - SPAM






16. 1. BI/PD caused by occurrence in coverage territory 2. BI/PD did not occur before retroactive date 3. during policy period or extended reporting period






17. Your conduct - Conduct of Others






18. Limited - Intermediate - Broad






19. Strict Liability same as ...


20. Indemnification and Hold Harmless Clauses






21. In Addition to Policy Limits






22. 1. Premises Liability 2. Business Operations Liability 3. Products Liability 4. Completed 5. Contractual Liability 6. Contingent Liability - for Indep Cont 7. Personal Injury Liability Offenses 8. Advertising Liability Offenses






23. A voluntary act resulting in injury or loss to another. Libel (written) slander (spoken) - wrongful detention - false arrest - copyright - assault - wrongful entry or eviction






24. Employees - Unless they injure fellow employee or work in professional healthcare






25. 60 days - know and reported or incurred and not reported






26. 1. Named insured - if indiv - includes spouse 2. Automatic Insured - Employee - Leased worker - Volunteer Worker - Real Estate Managers - Newly acquired or formed org






27. Coverage Territory - Policy Period






28. Additional time and premium






29. Direct - Vicarious: Agency-Principle - Employee-Employer - Indep Cont-Sub - Partnership-Partners






30. Your own work






31. Special Damages - Specific $ amounts General Damages - Subjective






32. One party assumes liability for another.