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Exam (elaborations)

CISR EXAM QUESTIONS WITH CORRECT ANSWERS 2025

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CISR EXAM QUESTIONS WITH CORRECT ANSWERS 2025

Institution
CISR
Course
CISR










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Institution
CISR
Course
CISR

Document information

Uploaded on
May 23, 2025
Number of pages
18
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

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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

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