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






2. Coverage Territory - Policy Period






3. Product recall - data - SPAM






4. Injury - Sickness or Disease - including death






5. 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






6. Indemnification and Hold Harmless Clauses






7. Strict Liability same as ...

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8. Occurrence means...






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






10. Compensatory - Punitive






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






12. 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






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






14. More Appropriately Insured Elsewhere - Catastrophe






15. One party assumes liability for another.






16. Expected or Intended Injury (Bar Fight)






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






18. In Addition to Policy Limits






19. Your conduct - Conduct of Others






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






21. Additional time and premium






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






23. 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






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






25. 60 days - know and reported or incurred and not reported






26. Dangerous Instrumentality - use of guns - lions






27. Indemnitor, Indemnitee, Injured Party






28. Limited - Intermediate - Broad






29. 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






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






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






32. Your own work