Guidewire Policy Center Professional Exam || A+ Guaranteed.
Supporting information under an Account (11) correct answers 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
Types of Policy Transactions (6) correct answers 1. Submission
2. Change
3. Renew
4. Cancelled
5. Rewritten
6. Reinstated
Jobs can be started in 3 ways correct answers 1. By users through Actions menu
2. External systems through API's
3. PC batch processes
What are Coverage Terms correct answers 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 answers 1. Personal Auto
2. Commercial Auto
3. General Liability
4. Homeowners
5. Business Owners
6. Inland Marine
7. Commercial Property
8. Worker's Comp
Policy File Contains (4) correct answers 1. Contact
2. Location
3. Form
4. Policy (contains coverages, coverables, coverage terms, and premium)
What is a product model? correct answers 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 answers Coverages, Exclusions, and Conditions
A Policy Line contains: (5) correct answers 1. Exclusions
2. Conditions
3. Modifiers
4. Coverage
5. Forms
What is availability and what is it based on? (6) correct answers 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 answers 5
Steps to creating a submission/policy (12) correct answers 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
Parallel rating correct answers rates coverables in parallel using multiple threads
Supporting information under an Account (11) correct answers 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
Types of Policy Transactions (6) correct answers 1. Submission
2. Change
3. Renew
4. Cancelled
5. Rewritten
6. Reinstated
Jobs can be started in 3 ways correct answers 1. By users through Actions menu
2. External systems through API's
3. PC batch processes
What are Coverage Terms correct answers 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 answers 1. Personal Auto
2. Commercial Auto
3. General Liability
4. Homeowners
5. Business Owners
6. Inland Marine
7. Commercial Property
8. Worker's Comp
Policy File Contains (4) correct answers 1. Contact
2. Location
3. Form
4. Policy (contains coverages, coverables, coverage terms, and premium)
What is a product model? correct answers 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 answers Coverages, Exclusions, and Conditions
A Policy Line contains: (5) correct answers 1. Exclusions
2. Conditions
3. Modifiers
4. Coverage
5. Forms
What is availability and what is it based on? (6) correct answers 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 answers 5
Steps to creating a submission/policy (12) correct answers 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
Parallel rating correct answers rates coverables in parallel using multiple threads
