CPP, BOP, WCP Questions and Answers (100%
Correct Answers) Already Graded A+
The common policy condition is a modular part combined
with other parts to create the contract. The common
policy condition section contains provisions that are
applicable to all lines of coverage that may be included in
the policy. Which of the following provisions would be
found in the common policy conditions section of the
policy? [ Ans: ] The first named insured may cancel the
policy at any time by giving written notice to the insurer.
An example of product liability claim [ Ans: ] Faulty
packaging of a cereal caused spoilage that resulted in
someone getting sick (product liability only covers
damage done by the product but not to the product)
What is the maximum amount of an insurer will pay under
the equipment, dealers pollution, cleanup, and remove
extension of an inland Marine policy? [ Ans: ] $10,000 for
all expenses incurred during a 12 month policy
Professional, photographers and musicians may ensure
their equipment with [ Ans: ] A commercial article floater
Which commercial crime form would provide coverage for
a loss that did not necessarily happen during the policy
period but was revealed during the policy? [ Ans: ]
Discovery form
, Under the claims-made CGL the supplemental extended
reporting period [ Ans: ] Provides an unlimited extension
for making claims for losses that occurred during the
policy period, but the insured must pay an additional
premium
Which of the following is NOT one of the available
additional coverages in the builders risk form? [ Ans: ]
vandalism
A liability policy that provides coverage for a claim for
injury or damage. If the claim is first reported or filed
against the insured during the policy period is called? [
Ans: ] Claims-made form
Coverage under the builders risk form will end in all of
the following situations, EXCEPT [ Ans: ] 60 days after the
construction has ended
The occurrence form trigger is based on which of the
following? [ Ans: ] The date when injury or damage occurs
Coverage F - unscheduled farm personal property is
subject to a coinsurance clause of [ Ans: ] 80%
In a farm policy, which of the following coverages would
reimburse the insured for loss of rental income, following
damage to the insured dwelling by insured peril [ Ans: ]
Coverage D (Loss of Use)
Which inland Marie coverage condition says that an
insurer will settle with the actual owners of property
Correct Answers) Already Graded A+
The common policy condition is a modular part combined
with other parts to create the contract. The common
policy condition section contains provisions that are
applicable to all lines of coverage that may be included in
the policy. Which of the following provisions would be
found in the common policy conditions section of the
policy? [ Ans: ] The first named insured may cancel the
policy at any time by giving written notice to the insurer.
An example of product liability claim [ Ans: ] Faulty
packaging of a cereal caused spoilage that resulted in
someone getting sick (product liability only covers
damage done by the product but not to the product)
What is the maximum amount of an insurer will pay under
the equipment, dealers pollution, cleanup, and remove
extension of an inland Marine policy? [ Ans: ] $10,000 for
all expenses incurred during a 12 month policy
Professional, photographers and musicians may ensure
their equipment with [ Ans: ] A commercial article floater
Which commercial crime form would provide coverage for
a loss that did not necessarily happen during the policy
period but was revealed during the policy? [ Ans: ]
Discovery form
, Under the claims-made CGL the supplemental extended
reporting period [ Ans: ] Provides an unlimited extension
for making claims for losses that occurred during the
policy period, but the insured must pay an additional
premium
Which of the following is NOT one of the available
additional coverages in the builders risk form? [ Ans: ]
vandalism
A liability policy that provides coverage for a claim for
injury or damage. If the claim is first reported or filed
against the insured during the policy period is called? [
Ans: ] Claims-made form
Coverage under the builders risk form will end in all of
the following situations, EXCEPT [ Ans: ] 60 days after the
construction has ended
The occurrence form trigger is based on which of the
following? [ Ans: ] The date when injury or damage occurs
Coverage F - unscheduled farm personal property is
subject to a coinsurance clause of [ Ans: ] 80%
In a farm policy, which of the following coverages would
reimburse the insured for loss of rental income, following
damage to the insured dwelling by insured peril [ Ans: ]
Coverage D (Loss of Use)
Which inland Marie coverage condition says that an
insurer will settle with the actual owners of property
