Name: Score:
82 Multiple choice questions
Definition 1 of 82
the legal duties imposed upon bailees which requires them to take the same care of the goods of
others as would be taking by a prudent and diligent owner of such goods
Common Carrier
Indirect Care
Tenants Improvement
Ordinary Care
Term 2 of 82
Unoccupied
Lack of habitual presence of human being; or when the premises are complete with its
contents, except that such a person who normally occupies the premises is temporary away
the legal duties imposed upon bailees which requires them to take the same care of the
goods of others as would be taking by a prudent and diligent owner of such goods
all negotiable and non negotiable instruments or contracts representing money or other
property and includes revenue and other stamps in current use, tokens and tickets but does
not include money
the insured or a partner of the insured or any employees who is duty is authorized by the
insured to have the care and custody of the insured's property outside the premises
,Definition 3 of 82
conditions common to all building which influence their potential for loss
Trade Losses
Common Hazards
Physical Hazard
Homogenous Perils
Term 4 of 82
Subscription
the manufacturer or supplier upon whom the insured depends for materials or goods
the customer(s) who the insured depends upon the purchase its products
refers to policy on which coverage is provided only on that property which is specifically
identified or scheduled
an insurance policy under which a group of insurers has agreed to participate in providing
policy insurance coverages
Term 5 of 82
Valued Bill of Landing
serves to increase carrier's liability. normally requested by the owner of goods when their
value exceeds the value stated in the Standard Bill of Landing
reflects the amount for which the bill of landing common carrier will be held legally liable
under the tariff
reflects the amount for which the bill of landing common carrier will be held legally liable
under the tariff
a location owned, rented or controlled by the insured for a period of 30 days from
acquisition
, Term 6 of 82
Tenants Improvement
building improvements, alteration and betterments made at expense of or purchased by
the insured to a building occupied by the insured and which are not otherwise insured,
provided the insured is not actual owner of such building
a hidden or concealed defect, one which could not be discovered by reasonable and
customary inspection, one not apparent in face of goods, product, document, etc.
the entire payroll expense for all employees of the insured except officers, executives,
department managers, employees under contract and other important employees whose
services would not be dispensed with should the business be interfered or interrupted
one that carries, for pay, the goods of certain customers only as contrasted to a common
carrier that carries the goods of the public in general
Term 7 of 82
Supporting Business
subjective characteristics of the applicant that could cause a peril to occur
the maximum amount the insurer will pay in only one disaster or occurrence
the existence of other insurance policies the applicant has with the same insurer
business which is marginal or substandard but which the insurers agrees to accept as a
favour or accommodation to the broker
Definition 8 of 82
deterioration or depreciation, i.e value by ordinary and reasonable use of the subject matter
Pretend
Wear & tear
Endoderm
Custodian
82 Multiple choice questions
Definition 1 of 82
the legal duties imposed upon bailees which requires them to take the same care of the goods of
others as would be taking by a prudent and diligent owner of such goods
Common Carrier
Indirect Care
Tenants Improvement
Ordinary Care
Term 2 of 82
Unoccupied
Lack of habitual presence of human being; or when the premises are complete with its
contents, except that such a person who normally occupies the premises is temporary away
the legal duties imposed upon bailees which requires them to take the same care of the
goods of others as would be taking by a prudent and diligent owner of such goods
all negotiable and non negotiable instruments or contracts representing money or other
property and includes revenue and other stamps in current use, tokens and tickets but does
not include money
the insured or a partner of the insured or any employees who is duty is authorized by the
insured to have the care and custody of the insured's property outside the premises
,Definition 3 of 82
conditions common to all building which influence their potential for loss
Trade Losses
Common Hazards
Physical Hazard
Homogenous Perils
Term 4 of 82
Subscription
the manufacturer or supplier upon whom the insured depends for materials or goods
the customer(s) who the insured depends upon the purchase its products
refers to policy on which coverage is provided only on that property which is specifically
identified or scheduled
an insurance policy under which a group of insurers has agreed to participate in providing
policy insurance coverages
Term 5 of 82
Valued Bill of Landing
serves to increase carrier's liability. normally requested by the owner of goods when their
value exceeds the value stated in the Standard Bill of Landing
reflects the amount for which the bill of landing common carrier will be held legally liable
under the tariff
reflects the amount for which the bill of landing common carrier will be held legally liable
under the tariff
a location owned, rented or controlled by the insured for a period of 30 days from
acquisition
, Term 6 of 82
Tenants Improvement
building improvements, alteration and betterments made at expense of or purchased by
the insured to a building occupied by the insured and which are not otherwise insured,
provided the insured is not actual owner of such building
a hidden or concealed defect, one which could not be discovered by reasonable and
customary inspection, one not apparent in face of goods, product, document, etc.
the entire payroll expense for all employees of the insured except officers, executives,
department managers, employees under contract and other important employees whose
services would not be dispensed with should the business be interfered or interrupted
one that carries, for pay, the goods of certain customers only as contrasted to a common
carrier that carries the goods of the public in general
Term 7 of 82
Supporting Business
subjective characteristics of the applicant that could cause a peril to occur
the maximum amount the insurer will pay in only one disaster or occurrence
the existence of other insurance policies the applicant has with the same insurer
business which is marginal or substandard but which the insurers agrees to accept as a
favour or accommodation to the broker
Definition 8 of 82
deterioration or depreciation, i.e value by ordinary and reasonable use of the subject matter
Pretend
Wear & tear
Endoderm
Custodian
