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. 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






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






4. Dangerous Instrumentality - use of guns - lions






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






6. Limited - Intermediate - Broad






7. Strict Liability same as ...

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






9. Indemnification and Hold Harmless Clauses






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






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. Additional time and premium






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






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






15. More Appropriately Insured Elsewhere - Catastrophe






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






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. Expected or Intended Injury (Bar Fight)






19. One party assumes liability for another.






20. 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






21. Coverage Territory - Policy Period






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






23. Compensatory - Punitive






24. Occurrence means...






25. Product recall - data - SPAM






26. Your own work






27. Indemnitor, Indemnitee, Injured Party






28. Injury - Sickness or Disease - including death






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






30. In Addition to Policy Limits






31. Your conduct - Conduct of Others






32. 60 days - know and reported or incurred and not reported