Maryland Property & Casualty Exam (BOP) with
100% correct answers to pass
1. BOP Purpose A stand-alone pre-packaged policy with its own forms designed to fit the
needs of small and medium sized businesses. Includes property and
liability coverage in single contract with single premium. All BOP's
written for Replacement Cost/Spe- cial Form
2. Indivisible
Defini- tion When Property and Liability premium is together
3. BOP
Characteris- tics Attached BOP Declarations form with;
Insured's name and address
Coverage
Insurance
amount
Optional
coverage
Endorsement
s
4. BOP Eligible Busi- - Apartments and condos (no more than 6 stories or 60 units)
nesses -Contractors (carpenters, electricians, painters, plumbers)
-Convenience Stores (Gas sales 50% - 7500SF)
-Fast food restaurants (alcohol 25% - 7500SF)
-Mercantile, processing and service companies (no more than 25,000sf
or annual sales of $3,000,000)
5. BOP Section 1 -Oflce Buildings (no more than 6 stories or 100,000SF)
- Property
(Cover- ages) Can be for both building and business personal property. If insured owns
building but not business in it coverage is only for building and vice
versa.
Additional coverages:
-business income - 12 months/ordinary payroll to 60 days
1/
6
, Maryland Property & Casualty Exam (BOP) with
100% correct answers to pass
-business income from
dependent properties -
$5000
-civil authority - 4 weeks
-collapse
-debris removal
-electronic data
2/
6
100% correct answers to pass
1. BOP Purpose A stand-alone pre-packaged policy with its own forms designed to fit the
needs of small and medium sized businesses. Includes property and
liability coverage in single contract with single premium. All BOP's
written for Replacement Cost/Spe- cial Form
2. Indivisible
Defini- tion When Property and Liability premium is together
3. BOP
Characteris- tics Attached BOP Declarations form with;
Insured's name and address
Coverage
Insurance
amount
Optional
coverage
Endorsement
s
4. BOP Eligible Busi- - Apartments and condos (no more than 6 stories or 60 units)
nesses -Contractors (carpenters, electricians, painters, plumbers)
-Convenience Stores (Gas sales 50% - 7500SF)
-Fast food restaurants (alcohol 25% - 7500SF)
-Mercantile, processing and service companies (no more than 25,000sf
or annual sales of $3,000,000)
5. BOP Section 1 -Oflce Buildings (no more than 6 stories or 100,000SF)
- Property
(Cover- ages) Can be for both building and business personal property. If insured owns
building but not business in it coverage is only for building and vice
versa.
Additional coverages:
-business income - 12 months/ordinary payroll to 60 days
1/
6
, Maryland Property & Casualty Exam (BOP) with
100% correct answers to pass
-business income from
dependent properties -
$5000
-civil authority - 4 weeks
-collapse
-debris removal
-electronic data
2/
6
