CISR Commercial Casualty 2
Exam Questions and Answers
100% Pass
T/F Workers comp laws are a no-fault system? -
Answer: True, it doesn't matter who was at fault in a WC claim
Question: Which states are WC insurance not mandatory? -
Answer: Texas
New Jersey
Question: What is a monopolistic state fund? -
Answer: Where the state owns and operates their own WC insurance facility
Question: What are the 4 states that are monopolistic states? -
Answer: North Dakota
,Ohio
Washington
Wyoming
Question: What are Employee advantages of WC policy? -
Answer: Defined benefits if injured on the job
Benefits regardless of negligence
Some benefits last a lifetime
Question: What are Employer advantages of WC policy? -
Answer: No lawsuits from injured employees
Cost of insurance is predictable
tangible benefit to employees
Question: There are 4 items on the Information Page of a WC policy. What does
each section show? -
Answer: Item 1 - Employers type of business, name, and address
Item 2 - Policy period
, Item 3 - WC coverage, EL coverage, endorsements, States business is conducted,
and states where insured does not operate
Item 4 - Premium calculations
Question: What's is the difference between Item 3A and 3C of the information
page of a WC policy? -
Answer: 3A shows the state the insured has operations in
3C lists all states the insured does not have operations in
Question: What is an experience modifier and what is its purpose? -
Answer: It reflects the employers claim experience, including the Frequency and
cost of claims. If it is over 1, there have been higher claims, if it is less than 1, there
have been fewer claims. This is used to calculate an employers premium
Question: The WC policy has 5 general sections in it's entirety. These sections are
A-E. Briefly list what each section is for. -
Answer: A - Explains the policies role as an insurance contract and how it applies
B - Clarifies who is an insured
C - Described workers compensation law
Exam Questions and Answers
100% Pass
T/F Workers comp laws are a no-fault system? -
Answer: True, it doesn't matter who was at fault in a WC claim
Question: Which states are WC insurance not mandatory? -
Answer: Texas
New Jersey
Question: What is a monopolistic state fund? -
Answer: Where the state owns and operates their own WC insurance facility
Question: What are the 4 states that are monopolistic states? -
Answer: North Dakota
,Ohio
Washington
Wyoming
Question: What are Employee advantages of WC policy? -
Answer: Defined benefits if injured on the job
Benefits regardless of negligence
Some benefits last a lifetime
Question: What are Employer advantages of WC policy? -
Answer: No lawsuits from injured employees
Cost of insurance is predictable
tangible benefit to employees
Question: There are 4 items on the Information Page of a WC policy. What does
each section show? -
Answer: Item 1 - Employers type of business, name, and address
Item 2 - Policy period
, Item 3 - WC coverage, EL coverage, endorsements, States business is conducted,
and states where insured does not operate
Item 4 - Premium calculations
Question: What's is the difference between Item 3A and 3C of the information
page of a WC policy? -
Answer: 3A shows the state the insured has operations in
3C lists all states the insured does not have operations in
Question: What is an experience modifier and what is its purpose? -
Answer: It reflects the employers claim experience, including the Frequency and
cost of claims. If it is over 1, there have been higher claims, if it is less than 1, there
have been fewer claims. This is used to calculate an employers premium
Question: The WC policy has 5 general sections in it's entirety. These sections are
A-E. Briefly list what each section is for. -
Answer: A - Explains the policies role as an insurance contract and how it applies
B - Clarifies who is an insured
C - Described workers compensation law
