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