Casualty Insurance Exam Questions And Correct Answers
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Casualty Insurance
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Casualty Insurance
Casualty Insurance Exam Questions And Correct Answers
Coverage that is triggered when a claim is first made against the insured, regardless of when the injury took place, is known as
Coverage under the claims-made form
According to the other insurance condition, which of the following are meth...
casualty insurance exam questions and correct answ
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Casualty Insurance Exam Questions And
Correct Answers
Coverage that is triggered when a claim is first made against the insured,
regardless of when the injury took place, is known as
Coverage under the claims-made form
According to the other insurance condition, which of the following are methods
used to decide how the claim will be divided?
Contribution by equal shares or contribution with limits
Which of the following limits of liability in a commercial general liability policy is
the most that will be paid for coverage c because of bodily injury sustained to
one person?
Medical expense limit
Unlike surety bonds, fidelity bonds are purchased by:
The obligee
Fiduciary bonds and court bonds are both a type of:
Judicial bond
Which of the following crime forms covers losses that occur during the policy
period or up to one year after?
Loss sustained form
All of the following statements are correct about the discovery form EXCEPT:
The extended periods to discover losses terminate one year after the insured obtains
commercial crime insurance
Which of the following is NOT covered under inside the premises—robbery or
safe burglary of other property?
Money and securities
The phrase "put to its intended use" describes
Completed operations
All of the following are defenses against negligence EXCEPT:
Absolute Liability
The aggregate is restored back to its original limit
At policy renewal
Which of the following liability limits is not applied on a per-occurrence basis?
Aggregate limit
Joey was driving too fast on a busy highway during a snow storm. She caused a
collision and totaled Ray's car. Ray suffered from a broken leg, broken arm, and
lost wages after having to miss work for 6 weeks. Ray's specific and provable
expenses are called:
Special damages
All of the following statements are true about negligence EXCEPT:
Negligence is a civil wrong that unfairly causes someone to suffer a loss
In a liability loss, who is the first party?
The insured
, Heather, the insured, was texting and driving and caused an accident that injured
a passenger in another vehicle. The passenger in the other vehicle cannot be held
liable for any damages. Which of the following defenses of negligence confirms
the statement?
Contributory negligence
All of the following statements about supplementary payments in a liability policy
are true EXCEPT:
First aid to others up to a year after the accident is covered
Which of the following coverages would apply if one of the insured's competitors
sues the insured fir slander on social media?
Coverage B
Which of the following terms is triggered by damage or injury that occurs during
the policy period, even though a claim may be made after the policy has expired?
Occurrence form
Which of the following covers liability arising out of slander, libel, or
advertisements?
Coverage B
What are the 5 types of risk exposures for CGL?
Premises and operations, products and completed operations, fire legal, contractual
liability, independent contractors
To which risk on CGL does LEASE refer to, and what does it stand for?
Refers to contractual liability. Stands for Lease of a premises, easement agreement,
agreement to indemnify a municipality, sidetrack agreement with railroad, elevator
maintenance agreement
What does coverage A in CGL stand for?
Bodily injury and property damage
What does coverage C in CGL stand for?
Medical payments to others (without regard to fault)
Occurrence form:
Trigger- injury or damage occurs while policy in force and claim can be made after
expiration
Claims-made form:
Trigger- claim made and reported during policy and cannot occur before retroactive date
What is extended reporting?
60 days. Covered up to 5 years after expiration (tail)
What are examples of named insureds?
Individuals and spouses, partners and spouses, corporations and directors, trusts
What are examples of insureds by definition?
Employees, named insureds legal representative,
General aggregate refers to which policies combined?
A B and C
Theft includes all of the following except:
Mysterious disappearance
___ is taking the property from inside the premises with VISIBLE evidence of
forced entry
Burglary
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