Guidewire Policy Center Professional Exam
Study Questions and Answers Top Graded 2024
Supporting information under an Account (11) -Correct Answer ✔1. Summary
2. Contacts
3. Location
4. Participants
5. Transactions
6. Submission Manager
7. Policies and UW files
8. Documents
9. History
10. Notes
11. Related Accounts
Jobs can be started in 3 ways -Correct Answer ✔1. By users through Actions menu
2. External systems through API's
3. PC batch processes
What are Coverage Terms -Correct Answer ✔A value that further defines a specific
coverage (Deductible and Limit)
Coverage can have 0, 1, or multiple terms attached
List of Policy Lines (8) -Correct Answer ✔1. Personal Auto
2. Commercial Auto
3. General Liability
4. Homeowners
5. Business Owners
6. Inland Marine
7. Commercial Property
8. Worker's Comp
What is a product model? -Correct Answer ✔How a product is configured - What LOB's
are required? What coverages can you add to each LOB?
A product appears when you are in a "New Submission" screen in PC
Configured in Product Designer
Ex. Commercial Package, Commercial Property
What are clauses? -Correct Answer ✔Coverages, Exclusions, and Conditions
A Policy Line contains: (5) -Correct Answer ✔1. Exclusions
2. Conditions
3. Modifiers
4. Coverage
5. Forms
What is availability and what is it based on? (6) -Correct Answer ✔A component either
appears or doesn't appear on a live app
Based on:
1. Start/End date
2. Industry Code
3. UW company
4. Policy Type
5. Policy Transaction type
6. Jurisdiction
What is the max number of submissions you can make per LOB? -Correct Answer ✔5
Steps to creating a submission/policy (12) -Correct Answer ✔1. Offering - allows the
insurers to define product types based on existing base product definitions
2. Prequalification - answer basic questions to reveal if the applicant qualifies for certain
coverages, or could reveal UW issues
3. Policy info - captures basic info
4. UW - large insurers license subsidiaries to do UW based on state requirements
5. Coverages - ex. for PA - collision, liability
6. Modifiers - increases or decreases in coverages based on certain factors
7. Risk Analysis - where UW concerns show up. UW can review or maintain any issues
8. Policy Review - can see full application summary
9. Quote - all policy info is sent to a rating engine and returns a quote
10. Forms - become available at this point
11. Payments - payments screen looks in depth at payment options to consider
payment plans
12. Bind and Issue - coverage becomes legally binding with Bind even without official
documentation. Issues means the documents are getting issued
Guidewire PolicyCenter Professional Exam
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