PSI Practice questions and answers Property Casualty

An insured operates a auto repair shop and has a garage coverage form with garagekeepers insurance when an employee on a test drive with a customer's car is involved in a crash. How will the customer's car be covered by the insured's policy? - CORRECT ANSWER-The customer's car is covered for any physical damage while in the custody of the insured. Liability arising out of any of the following is excluded from the personal and advertising injury liability coverage EXCEPT - CORRECT ANSWER-unknowingly inflicting injury that violates the rights of another. A bank customer's identity was compromised and the thieves made numerous purchases from a retailer by signing the customer's checks. When the bank refused to make payment for the goods, the retailer brought suit against the bank. Which coverage indemnified the bank for liability in the suit? - CORRECT ANSWER-forgery and alteration Workers' compensation coverage is rated on the basis of which of the following? - CORRECT ANSWER-employer's payroll Which of the following is the party who agrees to be responsible for loss in the case of a fidelity bond? - CORRECT ANSWER-the surety The insured carries underinsured motorists coverage limits of 250/500/250 on his automobile policy and his vehicle is struck by an at fault motorist who insures with the State minimum for liability of 20/40/10. If the insured brings suit for bodily injury damages to himself of $500,000, how much will he recover from at fault driver's policy? - CORRECT ANSWER-$20k Under the commercial general liability which one of the following is covered under supplementary payments? - CORRECT ANSWER-cost of bail bonds When the insured's child spills red juice on the carpet of insured's covered automobile, which of the follow