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. Your own work






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






3. 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






4. Additional time and premium






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. In Addition to Policy Limits






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






8. 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






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






10. 60 days - know and reported or incurred and not reported






11. Product recall - data - SPAM






12. Strict Liability same as ...


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






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






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






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






17. Coverage Territory - Policy Period






18. Your conduct - Conduct of Others






19. Indemnitor, Indemnitee, Injured Party






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






21. Indemnification and Hold Harmless Clauses






22. Limited - Intermediate - Broad






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. Expected or Intended Injury (Bar Fight)






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






26. Occurrence means...






27. Injury - Sickness or Disease - including death






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






29. More Appropriately Insured Elsewhere - Catastrophe






30. One party assumes liability for another.






31. Compensatory - Punitive






32. Dangerous Instrumentality - use of guns - lions