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. Limited - Intermediate - Broad






2. 60 days - know and reported or incurred and not reported






3. Additional time and premium






4. Your conduct - Conduct of Others






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






6. More Appropriately Insured Elsewhere - Catastrophe






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






8. Occurrence means...






9. In Addition to Policy Limits






10. Indemnitor, Indemnitee, Injured Party






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






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






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






14. Indemnification and Hold Harmless Clauses






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






16. Strict Liability same as ...

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


17. Injury - Sickness or Disease - including death






18. One party assumes liability for another.






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






20. Expected or Intended Injury (Bar Fight)






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






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






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






25. Compensatory - Punitive






26. Dangerous Instrumentality - use of guns - lions






27. 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






28. 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






29. Coverage Territory - Policy Period






30. Your own work






31. Product recall - data - SPAM






32. 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