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Casualty Insurance Exam Questions with Detailed
Verified Answers
Coverage that is triggered when a claim is first made against the insured, regardless of
when the injury took place, is known as
Ans: 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?
Ans: 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?
Ans: Medical expense limit
Unlike surety bonds, fidelity bonds are purchased by:
Ans: The obligee
Fiduciary bonds and court bonds are both a type of:
Ans: Judicial bond
Which of the following crime forms covers losses that occur during the policy period
or up to one year after?
Ans: Loss sustained form
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All of the following statements are correct about the discovery form EXCEPT:
Ans: 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?
Ans: Money and securities
The phrase "put to its intended use" describes
Ans: Completed operations
All of the following are defenses against negligence EXCEPT:
Ans: Absolute Liability
The aggregate is restored back to its original limit
Ans: At policy renewal
Which of the following liability limits is not applied on a per-occurrence basis?
Ans: Aggregate limit
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:
Ans: Special damages
All of the following statements are true about negligence EXCEPT:
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Ans: Negligence is a civil wrong that unfairly causes someone to suffer a loss
In a liability loss, who is the first party?
Ans: 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?
Ans: Contributory negligence
All of the following statements about supplementary payments in a liability policy are
true EXCEPT:
Ans: 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?
Ans: 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?
Ans: Occurrence form
Which of the following covers liability arising out of slander, libel, or advertisements?
Ans: Coverage B
What are the 5 types of risk exposures for CGL?
© Get it right 2025 Getaway - Stuvia US All rights reserved
Casualty Insurance Exam Questions with Detailed
Verified Answers
Coverage that is triggered when a claim is first made against the insured, regardless of
when the injury took place, is known as
Ans: 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?
Ans: 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?
Ans: Medical expense limit
Unlike surety bonds, fidelity bonds are purchased by:
Ans: The obligee
Fiduciary bonds and court bonds are both a type of:
Ans: Judicial bond
Which of the following crime forms covers losses that occur during the policy period
or up to one year after?
Ans: Loss sustained form
© Get it right 2025 Getaway - Stuvia US All rights reserved
,Click here for more: Scholars nexus
All of the following statements are correct about the discovery form EXCEPT:
Ans: 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?
Ans: Money and securities
The phrase "put to its intended use" describes
Ans: Completed operations
All of the following are defenses against negligence EXCEPT:
Ans: Absolute Liability
The aggregate is restored back to its original limit
Ans: At policy renewal
Which of the following liability limits is not applied on a per-occurrence basis?
Ans: Aggregate limit
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:
Ans: Special damages
All of the following statements are true about negligence EXCEPT:
© Get it right 2025 Getaway - Stuvia US All rights reserved
, Click here for more: Scholars nexus
Ans: Negligence is a civil wrong that unfairly causes someone to suffer a loss
In a liability loss, who is the first party?
Ans: 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?
Ans: Contributory negligence
All of the following statements about supplementary payments in a liability policy are
true EXCEPT:
Ans: 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?
Ans: 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?
Ans: Occurrence form
Which of the following covers liability arising out of slander, libel, or advertisements?
Ans: Coverage B
What are the 5 types of risk exposures for CGL?
© Get it right 2025 Getaway - Stuvia US All rights reserved
