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. 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






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






3. Dangerous Instrumentality - use of guns - lions






4. Your conduct - Conduct of Others






5. Injury - Sickness or Disease - including death






6. Coverage A: BI/PD (Occurrence) - Coverage B: PI/AI (offense) - Coverage C: Medical Payments (no fault)






7. Occurrence means...






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






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






10. One party assumes liability for another.






11. Product recall - data - SPAM






12. Expected or Intended Injury (Bar Fight)






13. More Appropriately Insured Elsewhere - Catastrophe






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






15. Indemnitor, Indemnitee, Injured Party






16. 60 days - know and reported or incurred and not reported






17. 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






18. Your own work






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






20. Limited - Intermediate - Broad






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






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






24. 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






25. Indemnification and Hold Harmless Clauses






26. Strict Liability same as ...


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






28. Compensatory - Punitive






29. Additional time and premium






30. Coverage Territory - Policy Period






31. In Addition to Policy Limits






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