TN Casualty Insurance Exam Quiz
Questions Review
Replacement cost is defined as - Correct Answers ✅Full
replacement of property at its current cost, new and without
reduction for depreciation.
The policy conditions define - Correct Answers ✅How
parties to the contract must act following a loss
All of the following are considered parts of the policy
structure EXCEPT - Correct Answers ✅Provisions
What type of information would be found in a policy's insuring
agreement? - Correct Answers ✅Renewal dates
Which of the following is a method of claim settlement used
in casualty insurance when the insured & insurer cannot
agree on how to settle a claim? - Correct Answers
✅Arbitration
In a personal umbrella policy, the amount paid by the insured
for certain losses not covered under the primary coverage is
called - Correct Answers ✅self insured retention
the type of professional liability coverage a medical doctor
needs is - Correct Answers ✅malpractice coverage
, TN Casualty Insurance Exam Quiz
Questions Review
what is the deductible of a commercial liability umbrella
policy called? - Correct Answers ✅the SIR
which of the following liability policies is usually written on
the "claims made" form? - Correct Answers ✅professional
liability insurance
A cereal company shipped some of its product in faulty
containers that caused spoilage that resulted in consumers
becoming ill. If the company is sued for this event, it would
be an example of a - Correct Answers ✅product liability
claim
what is not a factor in rating workers compensation insurance
- Correct Answers ✅sales
if a person is using an auto with the belief that he is entitled
to do so, subrogation rights under a personal auto policy
would apply to all coverages except - Correct Answers
✅physical damage
which professional liability form provides coverage for liability
arising out of errors or mistakes made in rendering medical
services? - Correct Answers ✅physicians, surgeons &
dentist malpractice
Questions Review
Replacement cost is defined as - Correct Answers ✅Full
replacement of property at its current cost, new and without
reduction for depreciation.
The policy conditions define - Correct Answers ✅How
parties to the contract must act following a loss
All of the following are considered parts of the policy
structure EXCEPT - Correct Answers ✅Provisions
What type of information would be found in a policy's insuring
agreement? - Correct Answers ✅Renewal dates
Which of the following is a method of claim settlement used
in casualty insurance when the insured & insurer cannot
agree on how to settle a claim? - Correct Answers
✅Arbitration
In a personal umbrella policy, the amount paid by the insured
for certain losses not covered under the primary coverage is
called - Correct Answers ✅self insured retention
the type of professional liability coverage a medical doctor
needs is - Correct Answers ✅malpractice coverage
, TN Casualty Insurance Exam Quiz
Questions Review
what is the deductible of a commercial liability umbrella
policy called? - Correct Answers ✅the SIR
which of the following liability policies is usually written on
the "claims made" form? - Correct Answers ✅professional
liability insurance
A cereal company shipped some of its product in faulty
containers that caused spoilage that resulted in consumers
becoming ill. If the company is sued for this event, it would
be an example of a - Correct Answers ✅product liability
claim
what is not a factor in rating workers compensation insurance
- Correct Answers ✅sales
if a person is using an auto with the belief that he is entitled
to do so, subrogation rights under a personal auto policy
would apply to all coverages except - Correct Answers
✅physical damage
which professional liability form provides coverage for liability
arising out of errors or mistakes made in rendering medical
services? - Correct Answers ✅physicians, surgeons &
dentist malpractice
