SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
Search
Test your basic knowledge |
Commercial Casualty Insurance Exam Commercial Lines
Start Test
Study First
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. Expected or Intended Injury (Bar Fight)
Supplemental ERP
Types of Indemnity agreements
Coverage A Exclusions
Contractual Indemnity
2. Product recall - data - SPAM
PD
Claims Made Coverage Trigger
Two Types of Damage
Uninsurable Exposures
3. More Appropriately Insured Elsewhere - Catastrophe
Contractual Indemnity
Three Major Coverages
Basic Extended Reporting Period
Exposures
4. Additional time and premium
Basic Extended Reporting Period
Supplemental ERP
Intentional Torts
Newly acquired or formed org
5. Indemnitor, Indemnitee, Injured Party
Basic Extended Reporting Period
Three parties to Indemnity Agreement
Contract Liability
Products Liability - liable for defective or hazardous products - even if an idiot wouldn't stick hand in mower
6. Coverage Territory - Policy Period
Contract Liability
Occurrence Coverage Trigger
Defense costs are paid
Who is an insured?
7. Dram Shop - Statute of Limitation or Repose - Comparative Negligience - Workers Comp
Legally Responsible
Statutes Create Liability
Three parties to Indemnity Agreement
Types of Indemnity agreements
8. 60 days - know and reported or incurred and not reported
Products Liability - liable for defective or hazardous products - even if an idiot wouldn't stick hand in mower
Uninsurable Exposures
Claims Made Coverage Trigger
Basic Extended Reporting Period
9. Special Damages - Specific $ amounts General Damages - Subjective
Automatic Insured Issues
Compensatory
Supplemental ERP
CGL Loss Exposures
10. Your conduct - Conduct of Others
Liability Triggers
Automatic Insured Issues
Intentional Torts
Newly acquired or formed org
11. 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
An accident
CGL Loss Exposures
Intentional Torts
Negligience
12. Dangerous Instrumentality - use of guns - lions
Coverage A Exclusions
Absolute Tort Liability
Types of Indemnity agreements
PD
13. Your own work
Newly acquired or formed org
Intentional Torts
Who is an insured?
Business Risk Exposures
14. Named Insured - unless LLC - JV or Partnership - then NO
Basic Extended Reporting Period
Newly acquired or formed org
PD
Legally Responsible
15. Employees - Unless they injure fellow employee or work in professional healthcare
Who is an insured?
Intentional Torts
Coverage A Exclusions
Automatic Insured Issues
16. Injury - Sickness or Disease - including death
Bodily Injury
Punitive
Types of Indemnity agreements
CGL Loss Exposures
17. 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
Liability Triggers
Five Insured Contracts
Occurrence Coverage Trigger
Statutes Create Liability
18. Limited - Intermediate - Broad
Coverage A Exclusions
Occurrence Coverage Trigger
Bodily Injury
Types of Indemnity agreements
19. Direct - Vicarious: Agency-Principle - Employee-Employer - Indep Cont-Sub - Partnership-Partners
Legally Responsible
Three Major Coverages
Contractual Indemnity
Occurrence Coverage Trigger
20. Indemnification and Hold Harmless Clauses
An accident
Punitive
Exposures
Contract Liability
21. Strict Liability same as ...
22. Physical injury to tangible property - loss of use of tangible property - electronic data is not considered tangible property
PD
Products Liability - liable for defective or hazardous products - even if an idiot wouldn't stick hand in mower
Automatic Insured Issues
An accident
23. 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
Coverage A Exclusions
CGL Loss Exposures
Occurrence Coverage Trigger
PD
24. 1. Named insured - if indiv - includes spouse 2. Automatic Insured - Employee - Leased worker - Volunteer Worker - Real Estate Managers - Newly acquired or formed org
Punitive
Who is an insured?
Three Major Coverages
Business Risk Exposures
25. 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
PD
An accident
Statutes Create Liability
Claims Made Coverage Trigger
26. Occurrence means...
Five Insured Contracts
An accident
Supplemental ERP
Products Liability - liable for defective or hazardous products - even if an idiot wouldn't stick hand in mower
27. Coverage A: BI/PD (Occurrence) - Coverage B: PI/AI (offense) - Coverage C: Medical Payments (no fault)
Bodily Injury
Defense costs are paid
Contractual Indemnity
Three Major Coverages
28. In Addition to Policy Limits
Claims Made Coverage Trigger
Defense costs are paid
Types of Indemnity agreements
Liability Triggers
29. A voluntary act resulting in injury or loss to another. Libel (written) slander (spoken) - wrongful detention - false arrest - copyright - assault - wrongful entry or eviction
Newly acquired or formed org
Products Liability - liable for defective or hazardous products - even if an idiot wouldn't stick hand in mower
Business Risk Exposures
Intentional Torts
30. Compensatory - Punitive
Uninsurable Exposures
Intentional Torts
Two Types of Damage
Three Major Coverages
31. One party assumes liability for another.
Punitive
Contractual Indemnity
Business Risk Exposures
CGL Loss Exposures
32. Statutes impose restrictions on insurability; imposed to deter or punish
Occurrence Coverage Trigger
Two Types of Damage
Basic Extended Reporting Period
Punitive