CISR EXAM QUESTIONS WITH CORRECT
gh gh gh gh
ANSWERS 2025 gh gh
1. Identify ghthe ghtypes ghof ghcommercial ghproperty ghexposed ghto gha ghloss gh- ghCORRECT ghANSWER gh-
1. Real ghproperty
2. personal ghproperty ghand ghpersonal ghproperty ghof ghothers
2. List ghparties ghthat ghhave ghan ghinsurable ghinterest? gh- ghCORRECT ghANSWER gh-1. ghOwner
2. Mortgage ghholder
3. Lessees ghor ghTenants
4. Signers ghof ghcontractural ghagreements
3. What ghis ghdirect ghloss? gh- ghCORRECT ghANSWER gh-damage ghto ghtangible ghproperty
4. Define ghactual ghcash ghvalue gh- ghCORRECT ghANSWER gh-
the ghautomatic ghvaluation ghmethod ghwhich ghis ghthe ghcost ghto ghreplace ghthe ghitem ghat ghthe ghtime ghof
ghloss gh- ghdepreciation
4. ghReplacement ghCost gh- ghCORRECT ghANSWER gh-
amount ghneeded ghto ghreplace ghthe ghpremises ghor ghitem ghwith
ghlike- ghkind ghmaterials ghand ghquality ghin ghtoday;s ghdollar
4. Functional ghreplacement ghcost gh- ghCORRECT ghANSWER gh-
when ghthe ghactual ghreplacement ghcost ghis ghnot ghfeasible ghso ghsubstitute ghparts ghand ghmaterials
gh are gh used
5. what ghis ghthe ghcoinsurance ghformula gh- ghCORRECT
ghANSWER gh- gh(Insurance ghcarried/Insurance ghrequired) ghX
ghLoss gh- ghdeductible
,insurance ghrequired gh- ghCORRECT ghANSWER gh-
value ghof ghproperty ghat ghthe ghtime ghof ghloss ghX ghcoinsurance ghrequired
If ghthe ghcoinsurance ghrequirement ghis ghmet gh- ghCORRECT ghANSWER gh-
then ghcoinsurance ghhas ghno ghaffect, ghthe ghinsurance ghcompany ghwill ghpay ghthe ghentire ghloss ghnot
ghexceeding ght ghhe ghLimit ghof ghInsurance
6. Agreed ghValue ghDefinition gh- ghCORRECT
ghANSWER gh- ghamount ghagreed ghon ghby ghthe
ghinsured ghand ghthe ghinsurer
7. Difference ghbetween ghspecific, ghschedule, ghand ghblanket ghcoverage gh- ghCORRECT
ghANSWER gh- ghSpecific: ghONE ghLOCATION ghand ghfixed ghamount
Schedule: ghtwo ghor ghmore ghlocations ghwith ghspecific ghlimits ghper ghproperty
Blanket: ghone ghlimit ghfor ghall ghproperty
Requirements ghto ghblanket ghcoverage gh- ghCORRECT ghANSWER gh-1. ghminimum ghof gh90%
ghcoinsurance
2. Statement ghof ghvalues
3. same ghcause ghof ghloss
Advantages ghto ghblanket ghcoverage gh- ghCORRECT ghANSWER gh-
1. total ghamount ghis ghavailable ghto ghpay ghfor ghany ghloss ghat ghany ghlocation
2. coinsurance ghapplies ghto ghthe ghtotal ghblanket ghcoverage
3. insured ghhas ghup ghto gh100% ghof ghinsurance ghat gheach ghlocation ghwithout ghhaving ghto ghcarry gh100%
ghcoinsura ghnce
4. Takes ghcare ghof ghfluctuating ghvalues
, Disadvantages ghto ghblanket ghcoverages gh- ghCORRECT ghANSWER gh-1. ghSOV ghis ghneeded
2. Underwriting ghrestrictions
3. cost
4. some ghproperties ghcannot ghbe ghblanketed
5. same ghcause ghof ghloss
8. What ghare ghthe ghthree ghoptions ghfor ghcoverage ghfor ghfluctuating ghvalues gh- ghCORRECT ghANSWER
gh-
1. Blanket ghInsurance
2. Peak ghSeason ghLimit ghof ghInsurance
3. Value ghReporting ghform
Peak ghseason ghlimit ghof ghinsurance gh- ghCORRECT ghANSWER
gh- ghauto ghincreases ghfor ghspecific ghperiods ghof ghbusiness
value ghreporting gh- ghCORRECT ghANSWER gh-increases ghand ghdecreases ghto ghmatch ghmonthly
ghreports
When ghis ghthe ghfinal ghpremium ghcalculated? gh- ghCORRECT ghANSWER gh-After ghthe ghpolicy ghperiod
Penalties ghfor ghunder ghreporting gh- ghCORRECT ghANSWER gh-
percentage ghreported ghcompared ghto ghthe ghamount ghneeded ghis ghpaid
penalties ghfor ghexcess ghreporting gh- ghCORRECT ghANSWER gh-pays ghpolicy ghlimits
penalties ghfor ghfailing ghto ghsubmit ghthe ghfirst ghreport gh- ghCORRECT ghANSWER gh--25%
penalties ghfor ghfailing ghto ghsubmit ghsubsequent ghreports gh- ghCORRECT
ghANSWER gh- ghthe ghlast ghreport ghis ghthe ghprecedent
gh gh gh gh
ANSWERS 2025 gh gh
1. Identify ghthe ghtypes ghof ghcommercial ghproperty ghexposed ghto gha ghloss gh- ghCORRECT ghANSWER gh-
1. Real ghproperty
2. personal ghproperty ghand ghpersonal ghproperty ghof ghothers
2. List ghparties ghthat ghhave ghan ghinsurable ghinterest? gh- ghCORRECT ghANSWER gh-1. ghOwner
2. Mortgage ghholder
3. Lessees ghor ghTenants
4. Signers ghof ghcontractural ghagreements
3. What ghis ghdirect ghloss? gh- ghCORRECT ghANSWER gh-damage ghto ghtangible ghproperty
4. Define ghactual ghcash ghvalue gh- ghCORRECT ghANSWER gh-
the ghautomatic ghvaluation ghmethod ghwhich ghis ghthe ghcost ghto ghreplace ghthe ghitem ghat ghthe ghtime ghof
ghloss gh- ghdepreciation
4. ghReplacement ghCost gh- ghCORRECT ghANSWER gh-
amount ghneeded ghto ghreplace ghthe ghpremises ghor ghitem ghwith
ghlike- ghkind ghmaterials ghand ghquality ghin ghtoday;s ghdollar
4. Functional ghreplacement ghcost gh- ghCORRECT ghANSWER gh-
when ghthe ghactual ghreplacement ghcost ghis ghnot ghfeasible ghso ghsubstitute ghparts ghand ghmaterials
gh are gh used
5. what ghis ghthe ghcoinsurance ghformula gh- ghCORRECT
ghANSWER gh- gh(Insurance ghcarried/Insurance ghrequired) ghX
ghLoss gh- ghdeductible
,insurance ghrequired gh- ghCORRECT ghANSWER gh-
value ghof ghproperty ghat ghthe ghtime ghof ghloss ghX ghcoinsurance ghrequired
If ghthe ghcoinsurance ghrequirement ghis ghmet gh- ghCORRECT ghANSWER gh-
then ghcoinsurance ghhas ghno ghaffect, ghthe ghinsurance ghcompany ghwill ghpay ghthe ghentire ghloss ghnot
ghexceeding ght ghhe ghLimit ghof ghInsurance
6. Agreed ghValue ghDefinition gh- ghCORRECT
ghANSWER gh- ghamount ghagreed ghon ghby ghthe
ghinsured ghand ghthe ghinsurer
7. Difference ghbetween ghspecific, ghschedule, ghand ghblanket ghcoverage gh- ghCORRECT
ghANSWER gh- ghSpecific: ghONE ghLOCATION ghand ghfixed ghamount
Schedule: ghtwo ghor ghmore ghlocations ghwith ghspecific ghlimits ghper ghproperty
Blanket: ghone ghlimit ghfor ghall ghproperty
Requirements ghto ghblanket ghcoverage gh- ghCORRECT ghANSWER gh-1. ghminimum ghof gh90%
ghcoinsurance
2. Statement ghof ghvalues
3. same ghcause ghof ghloss
Advantages ghto ghblanket ghcoverage gh- ghCORRECT ghANSWER gh-
1. total ghamount ghis ghavailable ghto ghpay ghfor ghany ghloss ghat ghany ghlocation
2. coinsurance ghapplies ghto ghthe ghtotal ghblanket ghcoverage
3. insured ghhas ghup ghto gh100% ghof ghinsurance ghat gheach ghlocation ghwithout ghhaving ghto ghcarry gh100%
ghcoinsura ghnce
4. Takes ghcare ghof ghfluctuating ghvalues
, Disadvantages ghto ghblanket ghcoverages gh- ghCORRECT ghANSWER gh-1. ghSOV ghis ghneeded
2. Underwriting ghrestrictions
3. cost
4. some ghproperties ghcannot ghbe ghblanketed
5. same ghcause ghof ghloss
8. What ghare ghthe ghthree ghoptions ghfor ghcoverage ghfor ghfluctuating ghvalues gh- ghCORRECT ghANSWER
gh-
1. Blanket ghInsurance
2. Peak ghSeason ghLimit ghof ghInsurance
3. Value ghReporting ghform
Peak ghseason ghlimit ghof ghinsurance gh- ghCORRECT ghANSWER
gh- ghauto ghincreases ghfor ghspecific ghperiods ghof ghbusiness
value ghreporting gh- ghCORRECT ghANSWER gh-increases ghand ghdecreases ghto ghmatch ghmonthly
ghreports
When ghis ghthe ghfinal ghpremium ghcalculated? gh- ghCORRECT ghANSWER gh-After ghthe ghpolicy ghperiod
Penalties ghfor ghunder ghreporting gh- ghCORRECT ghANSWER gh-
percentage ghreported ghcompared ghto ghthe ghamount ghneeded ghis ghpaid
penalties ghfor ghexcess ghreporting gh- ghCORRECT ghANSWER gh-pays ghpolicy ghlimits
penalties ghfor ghfailing ghto ghsubmit ghthe ghfirst ghreport gh- ghCORRECT ghANSWER gh--25%
penalties ghfor ghfailing ghto ghsubmit ghsubsequent ghreports gh- ghCORRECT
ghANSWER gh- ghthe ghlast ghreport ghis ghthe ghprecedent
