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. Expected or Intended Injury (Bar Fight)






2. Product recall - data - SPAM






3. More Appropriately Insured Elsewhere - Catastrophe






4. Additional time and premium






5. Indemnitor, Indemnitee, Injured Party






6. Coverage Territory - Policy Period






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






8. 60 days - know and reported or incurred and not reported






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






10. Your conduct - Conduct of Others






11. 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






12. Dangerous Instrumentality - use of guns - lions






13. Your own work






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






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






16. Injury - Sickness or Disease - including death






17. 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






18. Limited - Intermediate - Broad






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






20. Indemnification and Hold Harmless Clauses






21. Strict Liability same as ...


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






23. 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






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






25. 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






26. Occurrence means...






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






28. In Addition to Policy Limits






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






30. Compensatory - Punitive






31. One party assumes liability for another.






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