CIC Casualty Test Review Exam
Questions with Complete Solutions
Identify the rights and responsibilities of the first NI. - Answer-1. Authorize or cancel the
policy
2. Receive notice of cancellation
3. Authorized to make changes in terms of policy with insurer's consent
4. Responsible for payment
5. Payee for return premiums
Compare and contrast the Occurrence form with the Claims made form - Answer-
Occurrence
- BI and PD must take place during the policy period
- Personal and advertising injury must take place (committed) during the policy period
- CGL policy in force when claim occurs is the one that responds
Claims Made
- BI or PD must occur on or after the retro date and the claim has to be reported during
the period or in the ERP
- Personal and advertising injury offense must be committed on or after the retro date
- No coverage if claim occurred before retro date
Identify various liability exposures and describe the coverage's provided for these
exposures by the CGL coverage form. - Answer-1. Premises Liability
- Applies to owners, landlord, tenants, and arises out of the ownership, maint. or use of
the insured premises
2. Business operations liability
- Liability arises from activates involved in the operation of an organization while the
activity is being conducted
3. Products liability
- arises out of the sale, distribution or manufacturing of products
Who is an insured? - Answer-1. An individual, you and your spouse are insured's but
only in respect to business operations
2. A partnership or join venture, you are an insured. Your members, your partners, and
their spouses are also insureds
3. An LLC, you are an insured. Your members are also insured's, but only in respect to
your business.
4. An org other than a partnership, joint venture, or LLC, you are an insured. Your
"executive officers" and directors are insured's.
5. A trust, you are an insured. Your trustees are also insured's, but only with respect to
their duties as trustees.
Questions with Complete Solutions
Identify the rights and responsibilities of the first NI. - Answer-1. Authorize or cancel the
policy
2. Receive notice of cancellation
3. Authorized to make changes in terms of policy with insurer's consent
4. Responsible for payment
5. Payee for return premiums
Compare and contrast the Occurrence form with the Claims made form - Answer-
Occurrence
- BI and PD must take place during the policy period
- Personal and advertising injury must take place (committed) during the policy period
- CGL policy in force when claim occurs is the one that responds
Claims Made
- BI or PD must occur on or after the retro date and the claim has to be reported during
the period or in the ERP
- Personal and advertising injury offense must be committed on or after the retro date
- No coverage if claim occurred before retro date
Identify various liability exposures and describe the coverage's provided for these
exposures by the CGL coverage form. - Answer-1. Premises Liability
- Applies to owners, landlord, tenants, and arises out of the ownership, maint. or use of
the insured premises
2. Business operations liability
- Liability arises from activates involved in the operation of an organization while the
activity is being conducted
3. Products liability
- arises out of the sale, distribution or manufacturing of products
Who is an insured? - Answer-1. An individual, you and your spouse are insured's but
only in respect to business operations
2. A partnership or join venture, you are an insured. Your members, your partners, and
their spouses are also insureds
3. An LLC, you are an insured. Your members are also insured's, but only in respect to
your business.
4. An org other than a partnership, joint venture, or LLC, you are an insured. Your
"executive officers" and directors are insured's.
5. A trust, you are an insured. Your trustees are also insured's, but only with respect to
their duties as trustees.
