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. Limited - Intermediate - Broad






2. 60 days - know and reported or incurred and not reported






3. Dangerous Instrumentality - use of guns - lions






4. Your conduct - Conduct of Others






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






6. One party assumes liability for another.






7. 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






8. Product recall - data - SPAM






9. Indemnification and Hold Harmless Clauses






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






11. Expected or Intended Injury (Bar Fight)






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






13. More Appropriately Insured Elsewhere - Catastrophe






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






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






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






17. Injury - Sickness or Disease - including death






18. 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






19. Compensatory - Punitive






20. Coverage Territory - Policy Period






21. 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






22. In Addition to Policy Limits






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






24. Additional time and premium






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






26. Your own work






27. Occurrence means...






28. 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






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






30. Strict Liability same as ...

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31. Indemnitor, Indemnitee, Injured Party






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