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. One party assumes liability for another.






2. Coverage Territory - Policy Period






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






4. 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






5. Additional time and premium






6. 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






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






9. Product recall - data - SPAM






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






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






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






13. 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






14. Injury - Sickness or Disease - including death






15. Indemnitor, Indemnitee, Injured Party






16. Limited - Intermediate - Broad






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






18. Your own work






19. Occurrence means...






20. Indemnification and Hold Harmless Clauses






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






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






23. Expected or Intended Injury (Bar Fight)






24. 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






25. More Appropriately Insured Elsewhere - Catastrophe






26. Compensatory - Punitive






27. Strict Liability same as ...


28. Your conduct - Conduct of Others






29. In Addition to Policy Limits






30. 60 days - know and reported or incurred and not reported






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






32. Dangerous Instrumentality - use of guns - lions