SC Insurance Licensing Exam Questions with complete solutions

Mechanical failure including rupture/bursting caused by centrifugal force (In an equipment breakdown policy, "breakdown" has very specific definitions of a direct covered loss such as failure of pressure/vaccuum equipment, mechanical failure by centrifugal force and electric failure [unless excluded]) - ANSWER-Which of the following is found under the definition of a "Breakdown" under an Equipment Breakdown Policy? a. Mechanical failure including rupture/bursting caused by centrifugal force b. leaking of valve c. malfunction due to cleaning d. damage to any structure/foundations supporting the covered equipment Satellite dish attached to the building under construction (Though external fixtures are covered, satellite dishes are specifically excluded) - ANSWER-Which of the following items were excluded when Oscar filed a claim against his Builders Risk Policy? a. portable toilet used by workers and location < 100' from the building under construction b. Oscar's truck parked on premises c. trees, shrubs, and plants stored outside d. satellite dish attached to the building under construction Filed Forms (Controlled Forms) - ANSWER-Inland Marine forms which have been preapproved for use by a dept of insurance are referred to as?