CISR EXAM QUESTIONS WITH CORRECT
ANSWERS 2025
1.GIdentifyGtheGtypesGofGcommercialGpropertyGexposedGtoGaGlossG-GCORRECTGANSWERG-
1.GRealGpropertyG
2.GpersonalGpropertyGandGpersonalGpropertyGofGothers
2.GListGpartiesGthatGhaveGanGinsurableGinterest?G-GCORRECTGANSWERG-1.GOwner
2.GMortgageGholder
3.GLesseesGorGTenants
4.GSignersGofGcontracturalGagreements
3.GWhatGisGdirectGloss?G-GCORRECTGANSWERG-damageGtoGtangibleGproperty
4.GDefineGactualGcashGvalueG-GCORRECTGANSWERG-
theGautomaticGvaluationGmethodGwhichGisGtheGcostGtoGreplaceGtheGitemGatGtheGtimeGofGlossG-
Gdepreciation
4.GReplacementGCostG-GCORRECTGANSWERG-
amountGneededGtoGreplaceGtheGpremisesGorGitemGwithGlike-
kindGmaterialsGandGqualityGinGtoday;sGdollar
4.GFunctionalGreplacementGcostG-GCORRECTGANSWERG-
whenGtheGactualGreplacementGcostGisGnotGfeasibleGsoGsubstituteGpartsGandGmaterialsGareGused
5.GwhatGisGtheGcoinsuranceGformulaG-GCORRECTGANSWERG-
(InsuranceGcarried/InsuranceGrequired)GXGLossG-Gdeductible
,insuranceGrequiredG-GCORRECTGANSWERG-
valueGofGpropertyGatGtheGtimeGofGlossGXGcoinsuranceGrequired
IfGtheGcoinsuranceGrequirementGisGmetG-GCORRECTGANSWERG-
thenGcoinsuranceGhasGnoGaffect,GtheGinsuranceGcompanyGwillGpayGtheGentireGlossGnotGexceedingGt
heGLimitGofGInsurance
6.GAgreedGValueGDefinitionG-GCORRECTGANSWERG-
amountGagreedGonGbyGtheGinsuredGandGtheGinsurer
7.GDifferenceGbetweenGspecific,Gschedule,GandGblanketGcoverageG-GCORRECTGANSWERG-
Specific:GONEGLOCATIONGandGfixedGamountG
Schedule:GtwoGorGmoreGlocationsGwithGspecificGlimitsGperGpropertyG
Blanket:GoneGlimitGforGallGproperty
RequirementsGtoGblanketGcoverageG-GCORRECTGANSWERG-1.GminimumGofG90%Gcoinsurance
2.GStatementGofGvalues
3.GsameGcauseGofGloss
AdvantagesGtoGblanketGcoverageG-GCORRECTGANSWERG-
1.GtotalGamountGisGavailableGtoGpayGforGanyGlossGatGanyGlocationG
2.GcoinsuranceGappliesGtoGtheGtotalGblanketGcoverage
3.GinsuredGhasGupGtoG100%GofGinsuranceGatGeachGlocationGwithoutGhavingGtoGcarryG100%Gcoinsura
nce
4.GTakesGcareGofGfluctuatingGvalues
, DisadvantagesGtoGblanketGcoveragesG-GCORRECTGANSWERG-1.GSOVGisGneededG
2.GUnderwritingGrestrictionsG
3.GcostG
4.GsomeGpropertiesGcannotGbeGblanketed
5.GsameGcauseGofGloss
8.GWhatGareGtheGthreeGoptionsGforGcoverageGforGfluctuatingGvaluesG-GCORRECTGANSWERG-
1.GBlanketGInsurance
2.GPeakGSeasonGLimitGofGInsurance
3.GValueGReportingGform
PeakGseasonGlimitGofGinsuranceG-GCORRECTGANSWERG-
autoGincreasesGforGspecificGperiodsGofGbusiness
valueGreportingG-GCORRECTGANSWERG-increasesGandGdecreasesGtoGmatchGmonthlyGreports
WhenGisGtheGfinalGpremiumGcalculated?G-GCORRECTGANSWERG-AfterGtheGpolicyGperiod
PenaltiesGforGunderGreportingG-GCORRECTGANSWERG-
percentageGreportedGcomparedGtoGtheGamountGneededGisGpaid
penaltiesGforGexcessGreportingG-GCORRECTGANSWERG-paysGpolicyGlimits
penaltiesGforGfailingGtoGsubmitGtheGfirstGreportG-GCORRECTGANSWERG--25%
penaltiesGforGfailingGtoGsubmitGsubsequentGreportsG-GCORRECTGANSWERG-
theGlastGreportGisGtheGprecedent
ANSWERS 2025
1.GIdentifyGtheGtypesGofGcommercialGpropertyGexposedGtoGaGlossG-GCORRECTGANSWERG-
1.GRealGpropertyG
2.GpersonalGpropertyGandGpersonalGpropertyGofGothers
2.GListGpartiesGthatGhaveGanGinsurableGinterest?G-GCORRECTGANSWERG-1.GOwner
2.GMortgageGholder
3.GLesseesGorGTenants
4.GSignersGofGcontracturalGagreements
3.GWhatGisGdirectGloss?G-GCORRECTGANSWERG-damageGtoGtangibleGproperty
4.GDefineGactualGcashGvalueG-GCORRECTGANSWERG-
theGautomaticGvaluationGmethodGwhichGisGtheGcostGtoGreplaceGtheGitemGatGtheGtimeGofGlossG-
Gdepreciation
4.GReplacementGCostG-GCORRECTGANSWERG-
amountGneededGtoGreplaceGtheGpremisesGorGitemGwithGlike-
kindGmaterialsGandGqualityGinGtoday;sGdollar
4.GFunctionalGreplacementGcostG-GCORRECTGANSWERG-
whenGtheGactualGreplacementGcostGisGnotGfeasibleGsoGsubstituteGpartsGandGmaterialsGareGused
5.GwhatGisGtheGcoinsuranceGformulaG-GCORRECTGANSWERG-
(InsuranceGcarried/InsuranceGrequired)GXGLossG-Gdeductible
,insuranceGrequiredG-GCORRECTGANSWERG-
valueGofGpropertyGatGtheGtimeGofGlossGXGcoinsuranceGrequired
IfGtheGcoinsuranceGrequirementGisGmetG-GCORRECTGANSWERG-
thenGcoinsuranceGhasGnoGaffect,GtheGinsuranceGcompanyGwillGpayGtheGentireGlossGnotGexceedingGt
heGLimitGofGInsurance
6.GAgreedGValueGDefinitionG-GCORRECTGANSWERG-
amountGagreedGonGbyGtheGinsuredGandGtheGinsurer
7.GDifferenceGbetweenGspecific,Gschedule,GandGblanketGcoverageG-GCORRECTGANSWERG-
Specific:GONEGLOCATIONGandGfixedGamountG
Schedule:GtwoGorGmoreGlocationsGwithGspecificGlimitsGperGpropertyG
Blanket:GoneGlimitGforGallGproperty
RequirementsGtoGblanketGcoverageG-GCORRECTGANSWERG-1.GminimumGofG90%Gcoinsurance
2.GStatementGofGvalues
3.GsameGcauseGofGloss
AdvantagesGtoGblanketGcoverageG-GCORRECTGANSWERG-
1.GtotalGamountGisGavailableGtoGpayGforGanyGlossGatGanyGlocationG
2.GcoinsuranceGappliesGtoGtheGtotalGblanketGcoverage
3.GinsuredGhasGupGtoG100%GofGinsuranceGatGeachGlocationGwithoutGhavingGtoGcarryG100%Gcoinsura
nce
4.GTakesGcareGofGfluctuatingGvalues
, DisadvantagesGtoGblanketGcoveragesG-GCORRECTGANSWERG-1.GSOVGisGneededG
2.GUnderwritingGrestrictionsG
3.GcostG
4.GsomeGpropertiesGcannotGbeGblanketed
5.GsameGcauseGofGloss
8.GWhatGareGtheGthreeGoptionsGforGcoverageGforGfluctuatingGvaluesG-GCORRECTGANSWERG-
1.GBlanketGInsurance
2.GPeakGSeasonGLimitGofGInsurance
3.GValueGReportingGform
PeakGseasonGlimitGofGinsuranceG-GCORRECTGANSWERG-
autoGincreasesGforGspecificGperiodsGofGbusiness
valueGreportingG-GCORRECTGANSWERG-increasesGandGdecreasesGtoGmatchGmonthlyGreports
WhenGisGtheGfinalGpremiumGcalculated?G-GCORRECTGANSWERG-AfterGtheGpolicyGperiod
PenaltiesGforGunderGreportingG-GCORRECTGANSWERG-
percentageGreportedGcomparedGtoGtheGamountGneededGisGpaid
penaltiesGforGexcessGreportingG-GCORRECTGANSWERG-paysGpolicyGlimits
penaltiesGforGfailingGtoGsubmitGtheGfirstGreportG-GCORRECTGANSWERG--25%
penaltiesGforGfailingGtoGsubmitGsubsequentGreportsG-GCORRECTGANSWERG-
theGlastGreportGisGtheGprecedent