Casualty Insurance Exam
Coverage that is triggered when a claim is first made against the insured, regardless of when the
injury took place, is known as - ✔✔ correct answer Coverage under the claims-made form
According to the other insurance condition, which of the following are methods used to decide how
the claim will be divided? - ✔✔ correct answer Contribution by equal shares or contribution with
limits
Which of the following limits of liability in a commercial general liability policy is the most that will be
paid for coverage c because of bodily injury sustained to one person? - ✔✔ correct answer Medical
expense limit
Unlike surety bonds, fidelity bonds are purchased by: - ✔✔ correct answer The obligee
Fiduciary bonds and court bonds are both a type of: - ✔✔ correct answer Judicial bond
Which of the following crime forms covers losses that occur during the policy period or up to one
year after? - ✔✔ correct answer Loss sustained form
All of the following statements are correct about the discovery form EXCEPT: - ✔✔ correct answer
The extended periods to discover losses terminate one year after the insured obtains commercial
crime insurance
Which of the following is NOT covered under inside the premises—robbery or safe burglary of other
property? - ✔✔ correct answer Money and securities
The phrase "put to its intended use" describes - ✔✔ correct answer Completed operations
All of the following are defenses against negligence EXCEPT: - ✔✔ correct answer Absolute Liability
The aggregate is restored back to its original limit - ✔✔ correct answer At policy renewal
Which of the following liability limits is not applied on a per-occurrence basis? - ✔✔ correct answer
Aggregate limit
, Casualty Insurance Exam
Joey was driving too fast on a busy highway during a snow storm. She caused a collision and totaled
Ray's car. Ray suffered from a broken leg, broken arm, and lost wages after having to miss work for 6
weeks. Ray's specific and provable expenses are called: - ✔✔ correct answer Special damages
All of the following statements are true about negligence EXCEPT: - ✔✔ correct answer Negligence is
a civil wrong that unfairly causes someone to suffer a loss
In a liability loss, who is the first party? - ✔✔ correct answer The insured
Heather, the insured, was texting and driving and caused an accident that injured a passenger in
another vehicle. The passenger in the other vehicle cannot be held liable for any damages. Which of
the following defenses of negligence confirms the statement? - ✔✔ correct answer Contributory
negligence
All of the following statements about supplementary payments in a liability policy are true EXCEPT: -
✔✔ correct answer First aid to others up to a year after the accident is covered
Which of the following coverages would apply if one of the insured's competitors sues the insured fir
slander on social media? - ✔✔ correct answer Coverage B
Which of the following terms is triggered by damage or injury that occurs during the policy period,
even though a claim may be made after the policy has expired? - ✔✔ correct answer Occurrence
form
Which of the following covers liability arising out of slander, libel, or advertisements? - ✔✔ correct
answer Coverage B
What are the 5 types of risk exposures for CGL? - ✔✔ correct answer Premises and operations,
products and completed operations, fire legal, contractual liability, independent contractors
To which risk on CGL does LEASE refer to, and what does it stand for? - ✔✔ correct answer Refers to
contractual liability. Stands for Lease of a premises, easement agreement, agreement to indemnify a
municipality, sidetrack agreement with railroad, elevator maintenance agreement
What does coverage A in CGL stand for? - ✔✔ correct answer Bodily injury and property damage
Coverage that is triggered when a claim is first made against the insured, regardless of when the
injury took place, is known as - ✔✔ correct answer Coverage under the claims-made form
According to the other insurance condition, which of the following are methods used to decide how
the claim will be divided? - ✔✔ correct answer Contribution by equal shares or contribution with
limits
Which of the following limits of liability in a commercial general liability policy is the most that will be
paid for coverage c because of bodily injury sustained to one person? - ✔✔ correct answer Medical
expense limit
Unlike surety bonds, fidelity bonds are purchased by: - ✔✔ correct answer The obligee
Fiduciary bonds and court bonds are both a type of: - ✔✔ correct answer Judicial bond
Which of the following crime forms covers losses that occur during the policy period or up to one
year after? - ✔✔ correct answer Loss sustained form
All of the following statements are correct about the discovery form EXCEPT: - ✔✔ correct answer
The extended periods to discover losses terminate one year after the insured obtains commercial
crime insurance
Which of the following is NOT covered under inside the premises—robbery or safe burglary of other
property? - ✔✔ correct answer Money and securities
The phrase "put to its intended use" describes - ✔✔ correct answer Completed operations
All of the following are defenses against negligence EXCEPT: - ✔✔ correct answer Absolute Liability
The aggregate is restored back to its original limit - ✔✔ correct answer At policy renewal
Which of the following liability limits is not applied on a per-occurrence basis? - ✔✔ correct answer
Aggregate limit
, Casualty Insurance Exam
Joey was driving too fast on a busy highway during a snow storm. She caused a collision and totaled
Ray's car. Ray suffered from a broken leg, broken arm, and lost wages after having to miss work for 6
weeks. Ray's specific and provable expenses are called: - ✔✔ correct answer Special damages
All of the following statements are true about negligence EXCEPT: - ✔✔ correct answer Negligence is
a civil wrong that unfairly causes someone to suffer a loss
In a liability loss, who is the first party? - ✔✔ correct answer The insured
Heather, the insured, was texting and driving and caused an accident that injured a passenger in
another vehicle. The passenger in the other vehicle cannot be held liable for any damages. Which of
the following defenses of negligence confirms the statement? - ✔✔ correct answer Contributory
negligence
All of the following statements about supplementary payments in a liability policy are true EXCEPT: -
✔✔ correct answer First aid to others up to a year after the accident is covered
Which of the following coverages would apply if one of the insured's competitors sues the insured fir
slander on social media? - ✔✔ correct answer Coverage B
Which of the following terms is triggered by damage or injury that occurs during the policy period,
even though a claim may be made after the policy has expired? - ✔✔ correct answer Occurrence
form
Which of the following covers liability arising out of slander, libel, or advertisements? - ✔✔ correct
answer Coverage B
What are the 5 types of risk exposures for CGL? - ✔✔ correct answer Premises and operations,
products and completed operations, fire legal, contractual liability, independent contractors
To which risk on CGL does LEASE refer to, and what does it stand for? - ✔✔ correct answer Refers to
contractual liability. Stands for Lease of a premises, easement agreement, agreement to indemnify a
municipality, sidetrack agreement with railroad, elevator maintenance agreement
What does coverage A in CGL stand for? - ✔✔ correct answer Bodily injury and property damage
