Copy of Commercial Insurance Exam

17% of survey complete.

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* 1. Please provide the following information:

Name: *

City/Town:

State:

Email Address: *

Phone Number:

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* 2. Which description most accurately defines CGL coverage?

Protects business owners and operators from a variety of exposures arising out of accidents resulting from the premises or the operations of an insured, operations completed by the insured and contractual liability.

Provides protection for a business owner from limited exposures arising out of products sold or completed operations.

Provides protection for business operations from limited exposures arising out of products sold or completed operations.

Protects business owners and operators from a variety of exposures arising out of intentional damages caused by the insured's products and/or completed operations.

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* 3. Which of the following losses would be excluded under the Building and Personal Property coverage form if the insured building had been vacant for more than 60 days before the loss occurred?

Attempted theft

Sprinkler leakage when the insured had protected the system against freezing

Vandalism

Glass breakage

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* 4. The insured's business sustains $25,000 damage in a fire. The fire department that was called to the scene billed the insured $1,000. The business is insured under the Building and Personal Property coverage form for $500,000 with a $5,000 deductible. How much will the insurance company pay for this loss?

$21,000

$20,000

$24,000

$26,000

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* 5. Which of the following is covered under the Builders Risk coverage form?

Building under construction

Foundation of the building under construction

Fixtures, machinery, and equipment used to service the building if they will become a permanent part of the building and are located within 100 feet of the building

All of the above

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* 6. Which of the following perils are covered in the Causes of Loss Basic form?

Collapse

Explosion

Volcanic eruption

Nuclear hazard

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* 7. Which of the following would be covered under the building coverage of the Building and Personal Property coverage form?

Inventory stored at the insured's warehouse

An addition to the insured's store on which construction has just begun

Fire extinguishers located in the insured's factory

Office furniture and supplies kept in the insured's building.