QUESTIONS WITH CORRECT
ANSWERS 2025/2026
IdentifyAtheArightsAandAresponsibilitiesAofAtheAfirstANI.A-
AcorrectAanswers1.AAuthorizeAorAcancelAtheApolicy
2.AReceiveAnoticeAofAcancellation
3.AAuthorizedAtoAmakeAchangesAinAtermsAofApolicyAwithAinsurer'sAconsent
4.AResponsibleAforApayment
5.APayeeAforAreturnApremiums
CompareAandAcontrastAtheAOccurrenceAformAwithAtheAClaimsAmadeAformA-
AcorrectAanswersOccurrence
-ABIAandAPDAmustAtakeAplaceAduringAtheApolicyAperiod
-APersonalAandAadvertisingAinjuryAmustAtakeAplaceA(committed)AduringAtheApolicyAperiod
-ACGLApolicyAinAforceAwhenAclaimAoccursAisAtheAoneAthatAresponds
ClaimsAMade
-
ABIAorAPDAmustAoccurAonAorAafterAtheAretroAdateAandAtheAclaimAhasAtoAbeAreportedAduringAtheA
periodAorAinAtheAERP
-APersonalAandAadvertisingAinjuryAoffenseAmustAbeAcommittedAonAorAafterAtheAretroAdate
-ANoAcoverageAifAclaimAoccurredAbeforeAretroAdate
IdentifyAvariousAliabilityAexposuresAandAdescribeAtheAcoverage'sAprovidedAforAtheseAexposures
AbyAtheACGLAcoverageAform.A-AcorrectAanswers1.APremisesALiability
-
AAppliesAtoAowners,Alandlord,Atenants,AandAarisesAoutAofAtheAownership,Amaint.AorAuseAofAtheAi
nsuredApremisesA
2.ABusinessAoperationsAliability
-
ALiabilityAarisesAfromAactivatesAinvolvedAinAtheAoperationAofAanAorganizationAwhileAtheAactivityA
isAbeingAconducted
, 3.AProductsAliabilityA
-AarisesAoutAofAtheAsale,AdistributionAorAmanufacturingAofAproducts
WhoAisAanAinsured?A-
AcorrectAanswers1.AAnAindividual,AyouAandAyourAspouseAareAinsured'sAbutAonlyAinArespectAtoAbu
sinessAoperations
2.AAApartnershipAorAjoinAventure,AyouAareAanAinsured.AYourAmembers,AyourApartners,AandAtheir
AspousesAareAalsoAinsureds
3.AAnALLC,AyouAareAanAinsured.AYourAmembersAareAalsoAinsured's,AbutAonlyAinArespectAtoAyourAb
usiness.A
4.AAnAorgAotherAthanAaApartnership,AjointAventure,AorALLC,AyouAareAanAinsured.AYourA"executive
Aofficers"AandAdirectorsAareAinsured's.
5.AAAtrust,AyouAareAanAinsured.AYourAtrusteesAareAalsoAinsured's,AbutAonlyAwithArespectAtoAtheirA
dutiesAasAtrustees.
IdentifyAtheAtwoApromisesAtheAinsurerAmakesAinAtheAinsuringAagreementAunderACoverageAAAan
dAdescribeAtheArequirementsAthatAmustAbeAmetAforAcoverageAtoAapply.A-
AcorrectAanswers1.APayAsumsAtheAinsuredAbecomesAleagallyAobligatedAtoApayAasAdamagesAbeca
useAofABIAorAPDAorAPDAtoAwhichAthisAinsuranceAapplies.A
2.ARightAandAdutyAtoAdefendAagainstAanyAsuit.A
LegalAliabilityAisAaAresponsibilityAorAobligationAtoAothersAwhichAcourtsArecognizeAandAenforce.
ApplyAtheAdefinitionA"coverageAterritory"AtoAclaimsAsituations.A-
AcorrectAanswersWidgetsAInc.AmanufacturesAaAproductAthatAisAthenAshippedAtoACostaARica.AAAp
roductsAclaimAarisesAandAsuitAisAbroughtAinACostaARica,AnoAcoverage.
CoverageAAAexclusionsA-AcorrectAanswers1.AExpectedAorAintendedAinjuryAexclusion.
2.AContractualAliabilityAexclusion
DefineAandAbeAableAtoAapplyAtheAtermA"insuredAcontract"A-AcorrectAanswers-
ALeaseAofApremisesAexcept...
-AEasementAorAlicenseAagreementAexcept...
-AAnAobligationAtoAindemnifyAaAmunicipalityAasArequiredAbyAordinanceAexcept...
-ASidetrackAagreement
-AElevatorAmaintenanceAagreement