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. Occurrence means...






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






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






4. More Appropriately Insured Elsewhere - Catastrophe






5. 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






6. Indemnitor, Indemnitee, Injured Party






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






8. Limited - Intermediate - Broad






9. 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






10. Your conduct - Conduct of Others






11. Your own work






12. Product recall - data - SPAM






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






14. 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






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






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






17. Compensatory - Punitive






18. Coverage Territory - Policy Period






19. Additional time and premium






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






21. In Addition to Policy Limits






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






23. Expected or Intended Injury (Bar Fight)






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






25. Indemnification and Hold Harmless Clauses






26. Strict Liability same as ...


27. One party assumes liability for another.






28. Dangerous Instrumentality - use of guns - lions






29. 60 days - know and reported or incurred and not reported






30. Injury - Sickness or Disease - including death






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






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