Cic commercial mul Study guides, Class notes & Summaries
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CIC Commercial Multi-line Exam Prep (100% Correct Answers)
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CIC Commercial 
Multiline Exam 
Identify and describe the three primary purposes of excess liability/umbrella policies 
(LO1) - ANSWER 1. Provide additional limits that are excess over underlying limits of 
insurance 
2. Provide primary coverage when underlying poliy does not respond beacuse its 
aggregate limits of insruance are exhausted. 
3. Provide broader coverage than the exsiting underlying insurance 
excess liability coverage forms and commercial umbrella liability policy - ANSWER 1...
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CIC Commercial Multi-line Exam Prep-Solved
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CIC Commercial Multi-line Exam Prep-Solved
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CIC Commercial Multi-line Exam Prep (100% Correct Answers)
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Distinguish between Covered Property and Property Not Covered under the 
Businessowners Coverage Form. correct answers Covered: 
Buildings: 
 Includes PP of landlord (common areas, furnished) 
 Covers Bridges, Retaining Walls, Wharves, Docks 
 Replacement Cost 
BPP: 
 Includes Property of Others (in CCC) 
 Exterior Building Glass 
 Replacement Cost 
 
Not Covered: 
Money/Securities 
Fences, radios, antennas, towers, signs (detached) plants 
Installed computers (in vehicles etc) 
Electroni...
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CIC Commercial Multi-Line Exam Questions and Answers
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CIC Commercial Multi-Line Exam Questions and Answers 
Describe how inland marine insurance started - Answer ️️ -evolved from ocean 
marine 
-filled gap in coverage as good transitioned from ocean marine 
-cover goods in transit over land 
Does inland marine also apply to instruments of transportation and 
communication? - Answer ️️ Yes, ex. Bridges, tunnels, piers, cell towers, 
pipelines. 
What is the basic exclusion applicable to inland marine? - Answer ️️ Property in 
a fixed loca...
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CIC Commercial Multiline Actual test Questions With Answers
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CIC Commercial Multiline Actual 
test Questions With Answers 
Identify the three primary Purposes of Excess liability & Umbrella 
liability policies. 
Excess Liab - LO1 - ANSWER 1. Provides additional limits that 
are excess over underlying limits of insurance. ie: Auto Loss 
1.8M. 
2. Provides primary coverage when underlying poliy does not 
respond beacuse its aggregate limits of insurance are exhausted. 
ie: 2 GL claims 500k each; 3rd claim of $300k w/b paid by EL. It 
would drop down ...
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CIC Commercial Multiline Tests Bundle Set
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CIC Commercial Multiline Tests Bundle Set
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CIC Commercial Multiline Exam
- Exam (elaborations) • 26 pages • 2023
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Identify and describe the three primary purposes of excess liability/umbrella policies (LO1) - Answer- 1. Provide additional limits that are excess over underlying limits of insurance 
2. Provide primary coverage when underlying poliy does not respond beacuse its aggregate limits of insruance are exhausted. 
3. Provide broader coverage than the exsiting underlying insurance 
 
excess liability coverage forms and commercial umbrella liability policy - Answer- 1. follow forms 
- hella short 
- ...
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CIC COMMERCIAL MULTI-LINES
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The purpose of the definition of Marine is - Answer- to describe the kinds of risks and coverage's which may be classified or identified under state insurance laws as Marine, Inland Marine, or Transportation 
 
Who needs inland marine coverage's? - Answer- Business that have an exposure to property in transit or property that in not in a fixed location 
 
Imports - Answer- Goods coming into the US 
 
Exports - Answer- Goods going out of the US 
 
Domestic Shipments - Answer- Goods moving aroun...
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CIC Commercial Multi-line Exam Prep
- Exam (elaborations) • 18 pages • 2023
- Available in package deal
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- $12.99
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Distinguish between Covered Property and Property Not Covered under the 
Businessowners Coverage Form. - Answer- Covered: 
Buildings: 
 Includes PP of landlord (common areas, furnished) 
 Covers Bridges, Retaining Walls, Wharves, Docks 
 Replacement Cost 
BPP: 
 Includes Property of Others (in CCC) 
 Exterior Building Glass 
 Replacement Cost 
 
Not Covered: 
Money/Securities 
Fences, radios, antennas, towers, signs (detached) plants 
Installed computers (in vehicles etc) 
Electronic Data...
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CIC Commercial Multiline Exam questions with correct answers
- Exam (elaborations) • 44 pages • 2023
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Identify and describe the three primary purposes of excess liability/umbrella policies (LO1) CORRECT ANSWER-1. Provide additional limits that are excess over underlying limits of insurance 
2. Provide primary coverage when underlying poliy does not respond beacuse its aggregate limits of insruance are exhausted. 
3. Provide broader coverage than the exsiting underlying insurance 
 
excess liability coverage forms and commercial umbrella liability policy CORRECT ANSWER-1. follow forms 
- hella ...
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