CIC COMMERCIAL PROPERTY 2026 TEST
QUESTIONS AND ANSWERS SURE A+
✔✔Radio Or Television Antennas â€" Business Income Or Extra Expense endorsement
- ✔✔CP 15 50 10 12; addresses BI/EE exclusion for antennas
✔✔Leasehold Interest Coverage Form - ✔✔CP 00 60 06 95; can address suspension,
cancellation, or lapse of lease issues in some scenarios
✔✔Civil Authority Changes endorsement - ✔✔CP 15 32 06 07; can change the 1-mile
limitation and extend the 4-week limitation
✔✔Business Income Changes â€" Beginning Of The Period Of Restoration
endorsement - ✔✔CP 15 56 06 07; can reduce the BI waiting period to 24 hours or
eliminate it
✔✔Extended Business Income - ✔✔Begins when property is actually repaired, rebuilt,
or replaced and operations resume
✔✔Extended Business Income duration - ✔✔Ends earlier of when income could be
restored with reasonable effort or 60 consecutive days after repair/reopen
, ✔✔Extended Period Of Indemnity - ✔✔Extends coverage in 30-day increments up to
730 days
✔✔Newly Acquired Locations under BI - ✔✔Applies if 50% or more coinsurance is
shown in the Declarations, even if the insured is not compliant with coinsurance
✔✔Ordinance Or Law â€" Increased Period Of Restoration - ✔✔CP 15 31 09 17; adds
time element impact for ordinance or law issues
✔✔Business Income loss determination - ✔✔Considers pre-loss net income, likely net
income without the loss, necessary operating expenses, and financial/accounting
records
✔✔Payroll Limitation Or Exclusion - ✔✔CP 15 10 10 12; used when the insured wants
only select payroll included
✔✔Discretionary Payroll Expense - ✔✔Allows payroll to continue even if not necessary
to resume operations
✔✔Business Income coinsurance should amount - ✔✔Projected 12-month net income
plus operating expenses multiplied by the coinsurance percentage
✔✔Business Income coinsurance selection method - ✔✔Determine needed amount,
divide by projected 12-month net income plus operating expenses, then round down to
the next available option
✔✔Maximum Period Of Indemnity - ✔✔Pays up to the limit for BI loss and extra
expense during the first 120 days following the beginning of the period of restoration;
coinsurance does not apply
✔✔Monthly Limit Of Indemnity - ✔✔Pays no more than the selected fraction of the limit
during any 30-day period
✔✔Business Income Agreed Value - ✔✔Requires a Business Income
Report/Worksheet and suspends coinsurance for 12 months
✔✔Business Income (Without Extra Expense) - ✔✔Extra expense is paid only to the
extent it reduces the business income loss
✔✔Expanded Limits On Loss Payment - ✔✔Endorsement used to customize Extra
Expense recovery percentages
✔✔Leasehold Interest coverage trigger - ✔✔Requires lease cancellation resulting from
direct physical loss caused by a Covered Cause of Loss
QUESTIONS AND ANSWERS SURE A+
✔✔Radio Or Television Antennas â€" Business Income Or Extra Expense endorsement
- ✔✔CP 15 50 10 12; addresses BI/EE exclusion for antennas
✔✔Leasehold Interest Coverage Form - ✔✔CP 00 60 06 95; can address suspension,
cancellation, or lapse of lease issues in some scenarios
✔✔Civil Authority Changes endorsement - ✔✔CP 15 32 06 07; can change the 1-mile
limitation and extend the 4-week limitation
✔✔Business Income Changes â€" Beginning Of The Period Of Restoration
endorsement - ✔✔CP 15 56 06 07; can reduce the BI waiting period to 24 hours or
eliminate it
✔✔Extended Business Income - ✔✔Begins when property is actually repaired, rebuilt,
or replaced and operations resume
✔✔Extended Business Income duration - ✔✔Ends earlier of when income could be
restored with reasonable effort or 60 consecutive days after repair/reopen
, ✔✔Extended Period Of Indemnity - ✔✔Extends coverage in 30-day increments up to
730 days
✔✔Newly Acquired Locations under BI - ✔✔Applies if 50% or more coinsurance is
shown in the Declarations, even if the insured is not compliant with coinsurance
✔✔Ordinance Or Law â€" Increased Period Of Restoration - ✔✔CP 15 31 09 17; adds
time element impact for ordinance or law issues
✔✔Business Income loss determination - ✔✔Considers pre-loss net income, likely net
income without the loss, necessary operating expenses, and financial/accounting
records
✔✔Payroll Limitation Or Exclusion - ✔✔CP 15 10 10 12; used when the insured wants
only select payroll included
✔✔Discretionary Payroll Expense - ✔✔Allows payroll to continue even if not necessary
to resume operations
✔✔Business Income coinsurance should amount - ✔✔Projected 12-month net income
plus operating expenses multiplied by the coinsurance percentage
✔✔Business Income coinsurance selection method - ✔✔Determine needed amount,
divide by projected 12-month net income plus operating expenses, then round down to
the next available option
✔✔Maximum Period Of Indemnity - ✔✔Pays up to the limit for BI loss and extra
expense during the first 120 days following the beginning of the period of restoration;
coinsurance does not apply
✔✔Monthly Limit Of Indemnity - ✔✔Pays no more than the selected fraction of the limit
during any 30-day period
✔✔Business Income Agreed Value - ✔✔Requires a Business Income
Report/Worksheet and suspends coinsurance for 12 months
✔✔Business Income (Without Extra Expense) - ✔✔Extra expense is paid only to the
extent it reduces the business income loss
✔✔Expanded Limits On Loss Payment - ✔✔Endorsement used to customize Extra
Expense recovery percentages
✔✔Leasehold Interest coverage trigger - ✔✔Requires lease cancellation resulting from
direct physical loss caused by a Covered Cause of Loss
