SCRIPT 2026 QUESTIONS WITH
SOLUTIONS GRADED A+
◍ A commercial package policy consists of all of the following
EXCEPT-common policy declarations-common policy
components-common policy conditions-two or more coverage parts.
Answer: common policy components
◍ Abandonment.
Answer: The relinquishing of insured's property into the hands of another, or
into the possession of no one in particular.
◍ Breach.
Answer: Breaking or failing to observe a law or agreement.
◍ Which of the following can be included in a commercial package
policy?-workers compensation-life insurance-commercial buildings-health
and disability insurance.
Answer: commercial buildings
◍ A condition stating that an insureds rights and duties under the policy cannot
be transferred without the written consent of the insurance company, except
in the case of the death of a named insured, is sometimes called.
Answer: the assignment clause
◍ Which of the following coverages is NOT eligible for the commercial
package policy (CPP)? -Commercial property coverage-commercial crime
coverage-commercial auto coverage-commercial aviation coverage.
Answer: commercial aviation coverage
◍ Direct damage.
, Answer: Physical damage to the property that results in the inability to use
the damaged property.
◍ Monoline policy.
Answer: A policy that covers one type of insurance.
◍ Modular policy.
Answer: A policy that consists of several different documents which
together form a complete policy.
◍ Personal effects.
Answer: Privately owned items normally worn or carried on the person.
◍ Packaged policy.
Answer: A single contract that includes multiple coverages.
◍ General Liability.
Answer: Coverage part that protects against claims of bodily injury and
property damage.
◍ Commercial Property.
Answer: Coverage part that protects against loss or damage to business
property.
◍ Inland Marine.
Answer: Coverage for property that is portable and can be moved.
◍ Commercial Auto.
Answer: Coverage for vehicles used for business purposes.
◍ Endorsements that may be used with more than one line of insurance are
also known as.
Answer: interline endorsements
◍ All of the following are commercial casualty coverage forms
EXCEPT-general liability-farm liability -crime-ocean marine.
Answer: ocean marine
◍ Which section of the CPP varies based on the lines of coverage included?.