CIC COMMERCIAL MULTILINE TESTS EXAM ACTUAL TEST PAPER QUESTIONS
CORRECT ANSWERS GRADED A PLUS
CIC Commercial Multiline Tests EXAM 2026/2027
Actual Paper WITH Verified (2) Questions and
Answers Verified Solutions Latest Update
Question:
Identify the reasons for purchasing commercial crime insurance based on the exclusions and
limitations of the Building and Personal Property Coverage Form with Causes Of Loss- Special
Form.
Answer:
Commercial Property policy does not cover currency, money, securities., COL doesn't cover theft
Excludes: Dishonest Acts Voluntary Parting limitations of the Cause of loss form.= doesn't pay for
mysterious disapperance not covered for unauthorized property transfer small limits ($2.5k)
Question:
Identify the 7 Insuring Agreements included in the Commercial Crime Coverage Form (Loss
Sustained Form) as well as the Commercial Crime Coverage Form (Discovery Form).
Answer:
1.) Employee Theft 2.)Forgery or Alterations 3.)Inside Premises- Theft of Money & Securities
4.)Inside Premises-Robbery or Safe Burglary of Other Property 5.)Outside The Premises
6.)Computer & Funds Transfer Fraud 7.)Money Orders & Counterfeit Money some of these can be
modified by endorsements
Question:
Explain how the trigger of coverage under the Commercial Crime Coverage Form (Loss Sustained
Form) will apply to claims situations.
Answer:
Loss Sustained is triggered when a loss occurred during the policy period AND is discovered during
policy period or the extended period of discovery (1 yr)
,Question:
Explain how the Commercial Crime Coverage form (Loss Sustained Form) applies to claims
situation that occur partly or entirely during prior policies.
Answer:
Same Carrier Loss must be covered under current policy current policy must be effective on the
cancellation date of the prior insurance (NO Gap) Settles losses from current policy backwards
highest limit of Insurance applies w/ Current deductible Different Carriers Pays lowest limit with
current deductible
Question:
Explain how the trigger of coverage under the Commercial Crime Coverage Form (Discovery Form)
will apply to claims situations.
Answer:
Discovery coverage is triggered for a loss that occurred at anytime during the current policy period
AND is discovered during the extended Discovery period (60 days) includes Retro date: if an
occurrence happened before the established date= NO COVERAGE
Question:
Describe and apply the coverage provided by the Insuring Agreement A.1. Employee Theft.
Answer:
1. Covered Property= money, securities, other property from direct theft from an employee. 2.
Property could be held by N.I. or something they are legally liable for 3. Coverage applies per loss;
not per employee 4. employee theft includes forgery by employee under this insuring agreement
coverage terminates immediately when the named insured or any of its partners learn of any
dishonest act or theft by employee
Question:
Describe "money" "securities", other property., "theft" and "employee" as found in the Commercial
Crime Coverage Form.
Answer:
, money- coins, cash, has a face value; traveler's checks and money orders; deposits in insured's
account at financial institution securities- Tokens, Tickets, revenue, other stamps; Other property-
tangible property, No Electronic Data Theft- unlawful taking of property to the deprivation of the
insured. Employee: Current or past (30 day window) - MUST be compensated AND you have direct
control over services performed for you Temp/leased Former Employee who is now a consultant
intern Merger or Conslidated employees Managers, directors, trustees NOT EMPLOYEES:
AGENTS, BROKERS, FACTORS, CONSIGNEES, INDEPENDENT CONTRACTORS
Question:
Endorsements used to modify the definition of employee.
Answer:
1. Volunteer Workers as employees- meant for Gov't workers or nonprofit groups when working as
fund solicitors during franchise campaigns 2. employee theft- named employees have more
coverage 3. exclude designated person or classes of persons as employees 4. include designated
agents as employees 5. include computer software contractors as employees
Question:
exclusion and endorsements applicable to all 7 insuring agreements for crime.
Answer:
1. theft or dishonest acts committed by you, your partners or members eras plan coverage
amendments (protects employees benefits) include partners as employees include members of a
LLC as employees 2. acts committed by your employees learned of by you prior to the policy period
3. acts committed by your employees, managers directors, trustees, or reps (bc already covered in
employee theft) 4. confidential or personal information erisa plan coverage amendments 5. data
security breach 6. indirect loss (income you "would" have received 7. legal fees, costs, expenses 8.
virtual currency include virtual currency as money
Question:
policy exclusions pertaining to insuring agreement A.1. Employee Theft.
Answer:
-inventory shortages discovered by inventory or profit loss computation trading (can add trading
coverage) warehouse receipts (can add warehouse receipts coverage) erisa plan. coverage
amendments (deletes trading and warehouse receipts exclusion in relation to employee benefits)
CORRECT ANSWERS GRADED A PLUS
CIC Commercial Multiline Tests EXAM 2026/2027
Actual Paper WITH Verified (2) Questions and
Answers Verified Solutions Latest Update
Question:
Identify the reasons for purchasing commercial crime insurance based on the exclusions and
limitations of the Building and Personal Property Coverage Form with Causes Of Loss- Special
Form.
Answer:
Commercial Property policy does not cover currency, money, securities., COL doesn't cover theft
Excludes: Dishonest Acts Voluntary Parting limitations of the Cause of loss form.= doesn't pay for
mysterious disapperance not covered for unauthorized property transfer small limits ($2.5k)
Question:
Identify the 7 Insuring Agreements included in the Commercial Crime Coverage Form (Loss
Sustained Form) as well as the Commercial Crime Coverage Form (Discovery Form).
Answer:
1.) Employee Theft 2.)Forgery or Alterations 3.)Inside Premises- Theft of Money & Securities
4.)Inside Premises-Robbery or Safe Burglary of Other Property 5.)Outside The Premises
6.)Computer & Funds Transfer Fraud 7.)Money Orders & Counterfeit Money some of these can be
modified by endorsements
Question:
Explain how the trigger of coverage under the Commercial Crime Coverage Form (Loss Sustained
Form) will apply to claims situations.
Answer:
Loss Sustained is triggered when a loss occurred during the policy period AND is discovered during
policy period or the extended period of discovery (1 yr)
,Question:
Explain how the Commercial Crime Coverage form (Loss Sustained Form) applies to claims
situation that occur partly or entirely during prior policies.
Answer:
Same Carrier Loss must be covered under current policy current policy must be effective on the
cancellation date of the prior insurance (NO Gap) Settles losses from current policy backwards
highest limit of Insurance applies w/ Current deductible Different Carriers Pays lowest limit with
current deductible
Question:
Explain how the trigger of coverage under the Commercial Crime Coverage Form (Discovery Form)
will apply to claims situations.
Answer:
Discovery coverage is triggered for a loss that occurred at anytime during the current policy period
AND is discovered during the extended Discovery period (60 days) includes Retro date: if an
occurrence happened before the established date= NO COVERAGE
Question:
Describe and apply the coverage provided by the Insuring Agreement A.1. Employee Theft.
Answer:
1. Covered Property= money, securities, other property from direct theft from an employee. 2.
Property could be held by N.I. or something they are legally liable for 3. Coverage applies per loss;
not per employee 4. employee theft includes forgery by employee under this insuring agreement
coverage terminates immediately when the named insured or any of its partners learn of any
dishonest act or theft by employee
Question:
Describe "money" "securities", other property., "theft" and "employee" as found in the Commercial
Crime Coverage Form.
Answer:
, money- coins, cash, has a face value; traveler's checks and money orders; deposits in insured's
account at financial institution securities- Tokens, Tickets, revenue, other stamps; Other property-
tangible property, No Electronic Data Theft- unlawful taking of property to the deprivation of the
insured. Employee: Current or past (30 day window) - MUST be compensated AND you have direct
control over services performed for you Temp/leased Former Employee who is now a consultant
intern Merger or Conslidated employees Managers, directors, trustees NOT EMPLOYEES:
AGENTS, BROKERS, FACTORS, CONSIGNEES, INDEPENDENT CONTRACTORS
Question:
Endorsements used to modify the definition of employee.
Answer:
1. Volunteer Workers as employees- meant for Gov't workers or nonprofit groups when working as
fund solicitors during franchise campaigns 2. employee theft- named employees have more
coverage 3. exclude designated person or classes of persons as employees 4. include designated
agents as employees 5. include computer software contractors as employees
Question:
exclusion and endorsements applicable to all 7 insuring agreements for crime.
Answer:
1. theft or dishonest acts committed by you, your partners or members eras plan coverage
amendments (protects employees benefits) include partners as employees include members of a
LLC as employees 2. acts committed by your employees learned of by you prior to the policy period
3. acts committed by your employees, managers directors, trustees, or reps (bc already covered in
employee theft) 4. confidential or personal information erisa plan coverage amendments 5. data
security breach 6. indirect loss (income you "would" have received 7. legal fees, costs, expenses 8.
virtual currency include virtual currency as money
Question:
policy exclusions pertaining to insuring agreement A.1. Employee Theft.
Answer:
-inventory shortages discovered by inventory or profit loss computation trading (can add trading
coverage) warehouse receipts (can add warehouse receipts coverage) erisa plan. coverage
amendments (deletes trading and warehouse receipts exclusion in relation to employee benefits)
