Commercial Insurance

1

Under the commercial property coverage part of the CPP, the causes of loss -- broad form insures against:

1

A builders risk coverage form can be written to provide an amount of insurance:

1

The primary purpose of business income coverage is to reimburse the insured for:

1

Which one of the following is a coverage extension under the building and personal property forms?

1

The purpose of extra expense coverage is to provide:

1

Under the commercial property coverage form, breakage of glass is covered under what form?

1

A building was covered by Insurance for such perils as fire and loss due to vehicles, but not for earthquake damage. The commercial property form had a provision in it which excluded concurrent losses. A man who had auto insurance lost control of his car due to an earthquake and collided with a building. Two hours later gas leaking from the car caused a fire that burned the building. It was determined that the damage was 25% due to the earthquake, 25% due to the car, and 50% due to the fire. What percent of the building would be covered by the fire policy?

1

A building that had been vacant for 60 consecutive days burned. How much will be paid by the fire policy?

1

Builder's risk insurance is to cover:

1

In a business income coverage form, business interruption is covered only if the loss is due to a peril insured against in the cause of loss form.

1

Business income insurance covers:

1

Which of the following is a correct definition of coinsurance?

1

What is the function of the coinsurance clause in fire policies?

1

Property valued at $500,000. It is insured for $300,000 with an 80% coinsurance clause. If there is a $200,000 loss, the insurer will pay how much?

1

The insurer will pay a reduced amount on the loss, the insured becomes a coinsurer by the amount of the penalty and must pay that amount himself.

1

On commercial property policies, basic coverage insures against loss by all of the following perils except:

1

Under the commercial property basic form, what would be covered?

1

Operations at ABC company depend on a steady flow of supplies from XYZ Inc. What coverage would protect ABC against income losses due to damage at XYZ which prevents shipments of supplies?

1

In a business income coverage form, loss of income is covered while repairs are being made and for the subsequent 30 days after the business is resumed.

1

Who may cancel a commercial property policy as long as it is not contrary to law?

1

A tenant is in the middle of a ten-year lease. He has spent $50,000 in improvements for such things as lighting fixtures, shelves, and carpeting. Which of the following types of coverage would best suit his needs in the event of a claim?

1

A building insured under a commercial property policy was left vacant for a period of 90 days. The owner notified the insurer of this prior to the vacancy. In the event of a 50% loss, how much will the insurer pay?

1

A commercial plan designed expressly to protect against losses during construction is:

1

A policy that has a single limit of insurance for all property at multiple locations is known as?

1

Under a commercial property policy if there are two or more policies covering the same property under the same plan, terms, and conditions, how will the claim be handled?

1

A policy which provides an amount of insurance for specific types of property at a specific location is known as:

1

In commercial property in the building and personal property coverage form, coverages a, b, and c refer to:

1

The coverages under a dwelling form policy as compared to a homeowner's policy is similar to comparing a commercial property policy to a:

1

In making sure client has the proper coverage on a commercial property, there are three loss exposures to be considered. The loss exposures are:

1

All of the following are categories of inland marine insurance except:

1

Inland marine insurance commonly provides _______ coverage

1

In a commercial package inland marine policy, which of the following would not be covered:

1

A provision commonly found in liability insurance, thus creating a need for inland marine would be?

1

Why would someone be in need of adding a boiler and machinery coverage part to a commercial package policy?

1

The majority of the premium paid for boiler and machinery coverage is used for:

1

An important loss control feature of the boiler and machinery insurance program is:

1

A boiler and machinery policy would exclude all of the following except:

1

All of the following are true about boiler and machinery except:

1

Under a farm property coverage plan, what would be covered?

1

Under the commercial general liability policy, a separate aggregate limit applies to the:

1

Under the commercial general liability coverage form, liability assumed under contract is:

1

Under the commercial general liability coverage form, personal injury is:

1

Under the commercial general liability coverage form, the term personal injury is defined as:

"bodily injury such as the injury caused by wrongful eviction"

1

Under the claims made commercial general liability coverage form, the first date that an event may occur and still be covered under the policy is the:

1

Commercial general liabilty would cover an injury to:

1

Who would be in need of purchasing a liquor liability form?

1

In a commercial general liability form, the term YOUR means:

1

A commercial general liability policy would cover which of the following situations?

1

Which of the following would be true under a commercial general liability policy if you switched from the claims made form to the occurrence form?

1

Which is true about the CGL general aggregate limit?

1

The liability exposure arising out of a business location or activities is known as:

1

The medical payments of a commercial general liability policy will cover:

1

The retroactive date in a claims-made commercial general liability policy is:

1

In a commercial general liability, what do coverages A, B, and C represent?

1

Under the commercial crime coverage part, loss resulting from employee dishonesty is:

1

Which of the following is a commercial crime coverage form that provides virtually all risk coverage for money and securities?

1

A person has a commercial business policy with an employee dishonesty endorsement. Which of these is covered under the policy?

1

When would the insured collect under the employee dishonesty section of the commercial crime policy?

1. Theft of money
2. Theft of property
3. Theft of securities
4. Shortages of inventory

1

Under commercial crime, the loss sustained during prior insurance clause covers the crime loss subject to:

1

Which of the following offers the broadest crime coverage?

1

Under commercial crime coverage, employee dishonesty does not cover:

1

Employers that wish to cover employees use of their own cars in the employer's business should opt to have business auto liability coverage apply to which of the following groups of autos?

1

Employees are using their own cars for business purposes. The employer is concerned about liability exposure. What should the agent advise?

1

An insured whose business is earth moving wants to cover his equipment while it is being transferred from location to location. The insured would probably need:

1

An owner of a parking lot wants coverage for her liability for damage to vehicles left in her custody. She needs:

1

The type of insurance that an auto repair shop should carry is:

1

General liability policies and business auto policies define the word "auto" and "mobile equipment":

1

Business autos are identified by nine symbols in the declarations. The symbol #4 refers to:

1

A business auto policy (BAP) has four coverages under physical damage. Which can be written together?

1

Commercial auto:

1

Which of the following would have a need for commercial automobile policy?

1

All are mobile equipment under a commercial auto policy except:

1

An insurer cannot rate a commercial auto policy based on the personal driving record of a hired driver while using his own vehicle.

1

What cannot be covered under a commercial auto policy?

1

Under a commercial auto policy reimbursement for towing expenses:

1

Business autos are identified by nine symbols in the declarations. The symbol #7 refers to:

1

Which of the following is not available under the commercial package policy?

1

Commercial package policies may have a number of coverage forms. Which would not be covered under a commercial package policy?

1

Under the commercial package policy, who may cancel the policy in writing, is authorized to make changes to the policy with the consent of the insurer and is responsible for paying premiums?

1

According to the common conditions of a commercial package policy, the insurer can do an audit of insured's books and records any time during the policy period and during the three months following expiration of the policy.

1

According to the common conditions of a commercial package policy, the insurer can do an audit of an insured's books and records any time during the policy period and for a specified amount of time after the policy expires.

1

All of the following are part of the common conditions in a commercial package policy except:

1

A monoline policy:

1

What are the advantages of having a commercial package policy compared to having monoline policies?

1. Convenience of having coverage under one policy.
2. Cost.
3. No gap in coverage
4. No duplication of coverage

1

What is an advantage to having a commercial package policy instead of several monoline policies:

1

Commercial package policies must include:

1

Commercial package policies must include:

1

In a commercial package policy under common policy conditions "changes", it states that a policy can be amended or waived:

1

In commercial policies, the use of a value reporting form:

1

According to the common conditions of a commercial package policy, the insurer can do an audit of an insured's books and records:

Licensure Insurance (Quizzes) Quiz am Commercial Insurance, erstellt von Heather Donaldson am 28/07/2016.

Commercial Insurance

Under the commercial property coverage part of the CPP, the causes of loss -- broad form insures against:

A builders risk coverage form can be written to provide an amount of insurance:

The primary purpose of business income coverage is to reimburse the insured for:

Which one of the following is a coverage extension under the building and personal property forms?

The purpose of extra expense coverage is to provide:

Under the commercial property coverage form, breakage of glass is covered under what form?

A building that had been vacant for 60 consecutive days burned. How much will be paid by the fire policy?

Builder's risk insurance is to cover:

In a business income coverage form, business interruption is covered only if the loss is due to a peril insured against in the cause of loss form.

Business income insurance covers:

Which of the following is a correct definition of coinsurance?

What is the function of the coinsurance clause in fire policies?

Property valued at $500,000. It is insured for $300,000 with an 80% coinsurance clause. If there is a $200,000 loss, the insurer will pay how much?

The insurer will pay a reduced amount on the loss, the insured becomes a coinsurer by the amount of the penalty and must pay that amount himself.

On commercial property policies, basic coverage insures against loss by all of the following perils except:

Under the commercial property basic form, what would be covered?

Operations at ABC company depend on a steady flow of supplies from XYZ Inc. What coverage would protect ABC against income losses due to damage at XYZ which prevents shipments of supplies?

In a business income coverage form, loss of income is covered while repairs are being made and for the subsequent 30 days after the business is resumed.

Who may cancel a commercial property policy as long as it is not contrary to law?