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. Additional time and premium






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






3. Dangerous Instrumentality - use of guns - lions






4. Indemnification and Hold Harmless Clauses






5. Compensatory - Punitive






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






7. Indemnitor, Indemnitee, Injured Party






8. Injury - Sickness or Disease - including death






9. One party assumes liability for another.






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. Your own work






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






13. Your conduct - Conduct of Others






14. Coverage Territory - Policy Period






15. Occurrence means...






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






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






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






19. More Appropriately Insured Elsewhere - Catastrophe






20. 60 days - know and reported or incurred and not reported






21. Strict Liability same as ...


22. Product recall - data - SPAM






23. 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






24. 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






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






26. Expected or Intended Injury (Bar Fight)






27. In Addition to Policy Limits






28. Limited - Intermediate - Broad






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






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






31. 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






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