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






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






3. 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






4. 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






5. One party assumes liability for another.






6. Coverage Territory - Policy Period






7. 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






8. 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






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






10. Product recall - data - SPAM






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






12. Expected or Intended Injury (Bar Fight)






13. Indemnitor, Indemnitee, Injured Party






14. More Appropriately Insured Elsewhere - Catastrophe






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






16. Compensatory - Punitive






17. In Addition to Policy Limits






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






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






20. Injury - Sickness or Disease - including death






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






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






23. Dangerous Instrumentality - use of guns - lions






24. Additional time and premium






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






26. Your own work






27. Strict Liability same as ...


28. Your conduct - Conduct of Others






29. Limited - Intermediate - Broad






30. Indemnification and Hold Harmless Clauses






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






32. Occurrence means...