CIC Property Study guides, Class notes & Summaries

CIC CASUALTY ASSESSMENT TEST REVIEW EXAM QUESTIONS WITH CORRECT ANSWERS

CIC CASUALTY BUSINESS AUTO SECTION EXAM QUESTIONS WITH COMPLETE ANSWERS - insured status extends to resident spouse, but not to family members; would need to schedule family for coverage to apply to them Endorsement: Employees As Insureds CA - Answer-Used to provide insured status to any employee who uses their own personal autos to conduct the named insured's business This is liability coverage provided on an excess basis to the employee's PAP Endorsement: Social Services Agencie...

CIC CASUALTY GENERAL LIABILITY CGL SECTION EXAM QUESTIONS AND ANSWERS KNOWN injury or damage applicability - Answer-BI or PD known to have occurred prior to the policy period is NOT covered -> if previously known, any continuation, change or resumption of such BI or PD is also not covered Ex: Tank manufacturer example ... continuation of loss, original policy responds Notice of Occurrence - Answer-at the earliest time when an insured or any employee authorized to give or receive noti...

CIC CLASS - COMMERCIAL PROPERTY EXAM QUESTIONS AND ANSWERS 5 Things that are Building - Answer--Completed additions -Fixtures, including outdoor fixtures -permanently installed machinery & equipment -Personal property used to service the building/premises -If NOT COVERED BY OTHER INSURANCE 7 Things that Are Business Personal Property - Answer-1. Furniture & Fixtures 2. Machinery & Equipment 3. Stock 4. All Other personal property owned & used in business 5. Labor, materials, servi...

CIC COMMERCIAL CASUALTY KNOWLEDGE CHECKS EXAM QUESTIONS AND ANSWERS

CIC COMMERCIAL GENERAL LIABILITY PART #3 EXAM QUESTIONS AND ANSWERS What is an obligation to indemnify municipality in the insured contract? - Answer-ordinance in place that requires any damage that arises from that object to indemnify the city from damages and the insured is responsible for those payments. Example- signs that are outside of a business. If it falls, the injured party cannot sue the city. What is a sidetrack agreement in relation to the insured contract? - Answer-a railroad...

CIC COMMERCIAL GENERAL LIABILITY PART #4 EXAM QUESTION WITH CORRECT ANSWERS what is the Excludes damage to that particular part of any property that must be restored, repaired or replaced if the named insured's work was incorrectly performed on it (faulty workmanship) exclusion on the damage to property exclusion? - Answer-There is no coverage on the part you were working on because it must be restored or repaired if you messed up. CGL is not a warranty or a faulty work policy. What is th...

CIC COMMERCIAL MULTILINE - INLAND MARINE BAILEE-BAILOR SEGMENT EXAM QUESTIONS WITH CORRECT ANSWERS

CIC COMMERCIAL MULTILINE- CRIME EXAM QUESTIONS AND ANSWERS Describe and apply policy conditions pertaining to insuring Agreement A.1. Employee theft - Answer--Termination of coverage to any employee who you know had a past of dishonesty (Ex. 9 years old stealing) -Extends policy territory when an employee is gone for 90 days -Employee Benefit Plan- IF an employee steals payment will be to plan+ ded. applies Describe and apply the coverages, exclusions, limitations, and definitions p...

CIC COMMERCIAL MULTI-LINE EXAM PREP QUESTIONS AND ANSWERS Bailor- may have their own coverage on goods bailor policy will contain provision that prevents protection from any bailee Identify and apply Property Covered and Property Not Covered by this AAIS Builders Risk Coverage Form - Answer-Property Covered: Building/ Structure Materials to be permanetly installed backfilling, foundation, grading scaffolding temp. fencing + temp structures Property Not Covered: Contraband...