CIC COMMERCIAL CASUALTY EXAM 2024 ACTUAL
EXAM COMPLETE 200 QUESTIONS WITH DEAILED
VERIFIED ANSWERS (100% CORRECT ANSWERS)
/ALREADY GRADED A+
What are the two promises the insurer makes? - ANSWER: 1. Indemnity
2.Defense
A Commercial General Liability Policy may be written as a - ANSWER: 1. Monoline
Policy
2. Multi-Line Policy
6 different forms of business - ANSWER: 1. Individual
2. Partnership
3. Joint Venture
4. Trust
5. Limited Liability Company
6. Organization, including, but not limited to corporations
The 5 sections to a CGL Form - ANSWER: Section I - Coverages
Coverage A - Bodily Injury and Property Damage
Coverage B - Personal and Advertising Injury
Coverage C - Medical Payments
Section II - Who is an Insured?
Section III - Limits of Insurance
Section IV - CGL Conditions
Section V - Definitions
Coverage C is more for - ANSWER: On the premises and around the premises
Operations- away from the premises
Premises Liability - ANSWER: owners, landlords, and tenants and arises out of the
ownership, maintenance, or use of the insured's premises
Business Operations Liability - ANSWER: Activates involved in the operation of an
organization including service repair activities usually done on the premises of
others, while the activity is being conducted
STILL IN THE HANDS OF THE INSUREDS
Products Liability - ANSWER: Arises out of the sale, distribution or manufacture of
the named insured's product
,Coverage begins when the product has LEFT THE NAMED INSURED'S PREMISES and is
no longer in the named insured's possessions
Products - Completed Operations Hazard includes - ANSWER: all BI and PD occurring
away from premises you own or rent and arising out of "your product" or "your
work" except:
1. Products that are still in your physical possession
2. Work that has not yet been completed or abandoned.
In Products - Completed Operations Hazard "your work" will be deemed completed
at the earliest of the following times: - ANSWER: 1. When all of the work to be done
at the job site has been completed
2. When all of the work to be done at the job site has been completed if your
contract calls for work at more than one job site
3. When that part of the work done at a job site has been put to its intended use by
any person or organization other than another contractor or subcontractor working
on the same project
"Your Product" means - ANSWER: any goods or products other than real property,
manufactyured, sold, handled, distributed or disposed of by: you, others trading
under your name, or a person or organization whose business or assets you have
acquired
Your product also includes - ANSWER: Containers (other than vehicles), materials,
parts or equipment furnished in connection with such goods or products Including:
-Warranties or representations made at any time with respect to the fitness, quality,
durability, performance or use of "Your Product"
- The providing of or failure to provide warning or instructions
- Does not include vending machines or other property rented to or located for the
use of others but not sold
"Your Work" means - ANSWER: 1. Work or operations performed by you or on your
behalf
2. Materials, parts or equipment furnished in connection with such work or
operations including:
-Warranties or representations made at any time with respect to the fitness, quality,
durability, performance or use of "Your Work"
- The providing of or failure to provide warning or instructions
Completed Operation Liability - ANSWER: Arises from activities involved in the
operation of an organization including service and repair activities usually done on
the premises of others, after the activity has been concluded
,Coverage begins WHEN THE BUSINESS OPERATION IS COMPLETED - NO LONGER IN
INSUREDS HANDS
Work that may need service, maintenance, correction, repair or replacement, but
which is otherwise complete, will be treated as complete
ex. Food consumption on the named insured's premises
Liability Exposures under Coverage A - ANSWER: -Premises
-Operations
-Products
-Completed Operations
-Contractual
-Contingent
Contractual Liability - ANSWER: Arises from one party assuming responsibility of
another party
-Arises from an insured contract or other contractual obligations
ex. tenant - Landlord, Subcontractor - General Contractor
Coverage is provided for:
1. Liability in absence of the contract
2.Liability assumed in a contract or agreement that is an insured contract and only
with respect to injury or damage that occurs after the contract is executed
What kind of contract for a lease of premises is not considered an insured contract? -
ANSWER: the portion of the contract for a lease of premises that indemnifies any
person or organization for damage by fire to premises while rented to you or
temporarily occupied by you with permission of the owner
Endorsements that modify the insureds contract defintion - ANSWER: Amendment of
insured contract definition - eliminates coverage for the sole negligence of the
indemnitee under paragraph f
Contractual Liability Limitation - Eliminates the defintion of insured contract
Contractual Liability - Railroads - Gives back coverage for construction or demolition
operations on or within 50 feet of a railroad
What is an exception in any easement or license agreement? - ANSWER: connection
with construction or demolition operation on or within 50 feet of a railroad
Hold Harmless agreement or Indemnity agreement - ANSWER: on party (the
indemnitor) promises to reimburse, and in some cases defend the other party (the
indemnitee) against claims or suits brought against the indemnitee by a third party
, The purpose of a hold harmless agreement - ANSWER: to transfer the risk of financial
loss from one party (the indemnitee) to another party (the indemnitor)
Indemnitor - ANSWER: the person or organization that holds another (the
indemnitee) harmless in a contract
ex. sub contractor - they would respond to the suit bc they held the general
contractor harmless
Indemnitee - ANSWER: The person or organization that is held harmless in a contract
(the indemnitor)
ex. the general contractor - they are not held harmless
Contingent Liability - ANSWER: Arises out of work performed for the named insured
by someone else
ex. can protect a named insured from negligent acts of an independent contractor
Personal Injury Liability - ANSWER: Liability arising from intentional torts, such as
libel, slander, wrongful eviction
-coverage applies to named offenses as defined in the policy
Advertising Liability - ANSWER: Liability caused by harm from such things as
misappropriation of advertising ideas, style of doing business or infringement of
copyright
-Coverage applies to named offenses committed in the course of advertising the
named insured's goods, products, or services
First Paragraph on the insurance contract - ANSWER: States that various provisions
restrict coverage
Second Paragraph on the insurance contract - ANSWER: Defines how the named
insured and insurer will be identified on the CGL Form
"You" is - ANSWER: the person or organization named on the declarations and those
who qualify as a named insured
also any other persons or organizations not listed on the declarations that may
qualify as a named insured
Third Paragraph on the insurance contract - ANSWER: Defines the term insured as
those persons or organizations qualifying as such under Section II
EXAM COMPLETE 200 QUESTIONS WITH DEAILED
VERIFIED ANSWERS (100% CORRECT ANSWERS)
/ALREADY GRADED A+
What are the two promises the insurer makes? - ANSWER: 1. Indemnity
2.Defense
A Commercial General Liability Policy may be written as a - ANSWER: 1. Monoline
Policy
2. Multi-Line Policy
6 different forms of business - ANSWER: 1. Individual
2. Partnership
3. Joint Venture
4. Trust
5. Limited Liability Company
6. Organization, including, but not limited to corporations
The 5 sections to a CGL Form - ANSWER: Section I - Coverages
Coverage A - Bodily Injury and Property Damage
Coverage B - Personal and Advertising Injury
Coverage C - Medical Payments
Section II - Who is an Insured?
Section III - Limits of Insurance
Section IV - CGL Conditions
Section V - Definitions
Coverage C is more for - ANSWER: On the premises and around the premises
Operations- away from the premises
Premises Liability - ANSWER: owners, landlords, and tenants and arises out of the
ownership, maintenance, or use of the insured's premises
Business Operations Liability - ANSWER: Activates involved in the operation of an
organization including service repair activities usually done on the premises of
others, while the activity is being conducted
STILL IN THE HANDS OF THE INSUREDS
Products Liability - ANSWER: Arises out of the sale, distribution or manufacture of
the named insured's product
,Coverage begins when the product has LEFT THE NAMED INSURED'S PREMISES and is
no longer in the named insured's possessions
Products - Completed Operations Hazard includes - ANSWER: all BI and PD occurring
away from premises you own or rent and arising out of "your product" or "your
work" except:
1. Products that are still in your physical possession
2. Work that has not yet been completed or abandoned.
In Products - Completed Operations Hazard "your work" will be deemed completed
at the earliest of the following times: - ANSWER: 1. When all of the work to be done
at the job site has been completed
2. When all of the work to be done at the job site has been completed if your
contract calls for work at more than one job site
3. When that part of the work done at a job site has been put to its intended use by
any person or organization other than another contractor or subcontractor working
on the same project
"Your Product" means - ANSWER: any goods or products other than real property,
manufactyured, sold, handled, distributed or disposed of by: you, others trading
under your name, or a person or organization whose business or assets you have
acquired
Your product also includes - ANSWER: Containers (other than vehicles), materials,
parts or equipment furnished in connection with such goods or products Including:
-Warranties or representations made at any time with respect to the fitness, quality,
durability, performance or use of "Your Product"
- The providing of or failure to provide warning or instructions
- Does not include vending machines or other property rented to or located for the
use of others but not sold
"Your Work" means - ANSWER: 1. Work or operations performed by you or on your
behalf
2. Materials, parts or equipment furnished in connection with such work or
operations including:
-Warranties or representations made at any time with respect to the fitness, quality,
durability, performance or use of "Your Work"
- The providing of or failure to provide warning or instructions
Completed Operation Liability - ANSWER: Arises from activities involved in the
operation of an organization including service and repair activities usually done on
the premises of others, after the activity has been concluded
,Coverage begins WHEN THE BUSINESS OPERATION IS COMPLETED - NO LONGER IN
INSUREDS HANDS
Work that may need service, maintenance, correction, repair or replacement, but
which is otherwise complete, will be treated as complete
ex. Food consumption on the named insured's premises
Liability Exposures under Coverage A - ANSWER: -Premises
-Operations
-Products
-Completed Operations
-Contractual
-Contingent
Contractual Liability - ANSWER: Arises from one party assuming responsibility of
another party
-Arises from an insured contract or other contractual obligations
ex. tenant - Landlord, Subcontractor - General Contractor
Coverage is provided for:
1. Liability in absence of the contract
2.Liability assumed in a contract or agreement that is an insured contract and only
with respect to injury or damage that occurs after the contract is executed
What kind of contract for a lease of premises is not considered an insured contract? -
ANSWER: the portion of the contract for a lease of premises that indemnifies any
person or organization for damage by fire to premises while rented to you or
temporarily occupied by you with permission of the owner
Endorsements that modify the insureds contract defintion - ANSWER: Amendment of
insured contract definition - eliminates coverage for the sole negligence of the
indemnitee under paragraph f
Contractual Liability Limitation - Eliminates the defintion of insured contract
Contractual Liability - Railroads - Gives back coverage for construction or demolition
operations on or within 50 feet of a railroad
What is an exception in any easement or license agreement? - ANSWER: connection
with construction or demolition operation on or within 50 feet of a railroad
Hold Harmless agreement or Indemnity agreement - ANSWER: on party (the
indemnitor) promises to reimburse, and in some cases defend the other party (the
indemnitee) against claims or suits brought against the indemnitee by a third party
, The purpose of a hold harmless agreement - ANSWER: to transfer the risk of financial
loss from one party (the indemnitee) to another party (the indemnitor)
Indemnitor - ANSWER: the person or organization that holds another (the
indemnitee) harmless in a contract
ex. sub contractor - they would respond to the suit bc they held the general
contractor harmless
Indemnitee - ANSWER: The person or organization that is held harmless in a contract
(the indemnitor)
ex. the general contractor - they are not held harmless
Contingent Liability - ANSWER: Arises out of work performed for the named insured
by someone else
ex. can protect a named insured from negligent acts of an independent contractor
Personal Injury Liability - ANSWER: Liability arising from intentional torts, such as
libel, slander, wrongful eviction
-coverage applies to named offenses as defined in the policy
Advertising Liability - ANSWER: Liability caused by harm from such things as
misappropriation of advertising ideas, style of doing business or infringement of
copyright
-Coverage applies to named offenses committed in the course of advertising the
named insured's goods, products, or services
First Paragraph on the insurance contract - ANSWER: States that various provisions
restrict coverage
Second Paragraph on the insurance contract - ANSWER: Defines how the named
insured and insurer will be identified on the CGL Form
"You" is - ANSWER: the person or organization named on the declarations and those
who qualify as a named insured
also any other persons or organizations not listed on the declarations that may
qualify as a named insured
Third Paragraph on the insurance contract - ANSWER: Defines the term insured as
those persons or organizations qualifying as such under Section II
