CISR - Personal Lines Miscellaneous Exam Rated 100% Correct!!

What is a trade? - Answer Skilled manual or mechanical work. Examples: Painter, Carpenter, Electrician, etc. What is a profession? - Answer A vocation requiring advanced education and training. Examples: Physician, Dentist, Attorney, Veterinarian, etc. What is an occupation? - Answer An activity or pursuit in which a person is engaged; a person's usual or principal work or business. What are the two parts of the definition of "Business"? - Answer Part 1 - A business includes a trade, profession, or occupation engaged in on a full-time, part-time, or occasional basis. Part 2 - A business is any activity that is engaged in for money or other compensation unless it is one of four cited activities. What are the four cited activities that can void the definition of business? - Answer 1 - One or more activities for which no "insured" received more than $2,000 in the 12 months prior to the beginning of the policy period. 2 - Volunteer activities where no compensation is received other than reimbursement of expenses. 3 - Home day care provided without compensation even if there is a mutual exchange of day care services. 4 - Home day care to a relative of an "insured" even if receiving compensation for the services.Is coverage for a loss to the Coverage A - Dwelling effected by "business" use? - Answer No - there is not a limitation or exclusion for a dwelling with a "business" exposure. What does the Homeowners 3 - Special Form policy automatically include in regards to Coverage A - Dwelling & Coverage B - Other Structures? - Answer It automatically includes Coverage B - Other Structures coverage up to 10% of Coverage A - Dwelling limit.