Connecticut Property Insurance License Exam Questions Answered Correctly – Expert Verified | Latest Version 2024/2025

A bailment that involves the transfer of property without compensation is known as: - Gratuitous bailment A benefit limit serves as: - An upper bound on how much the insurer will pay for the loss. Generally, the lower the benefit limit the lower the premium. A captive insurance company exists primarily to underwrite the risks of who? - The parent owner A CGL policy protects the insured for what? - A CGL policy covers the insured's liability to outside parties injured due to operations of the insured. A commercial general liability policy does not cover the insurance liability to outside parties. True or false? - False A domestic insurance company is called what in other states? - A foreign insurer A loss must be out of the control of the policyholder, true or false? - True A mutual insurance company is owned by? - The policyholders According to the general rule for a yearly deductible, the loss is a deduction: - In the year of the casualty only