LATEST UPDATED CASUALTY INSURANCE PRACTICE
EXAM 2024/2025|QUESTIONS & 100% VERIFIED
ANSWERS||A+ GRADED
A Commercial General Liability policy provides coverage for which of the
following hazards?
A. Professional Liability
B. Employee Injury Liability
C. Pollution Liability
D. Premises Liability
- ANSWER-D. Premises Liability
A legal obligation for injuries that are sustained due to failure to perform a
duty is known as:
A. negligence
B. liability
C. physical hazard
D. claims payment
- ANSWER-B. liability
,A business insured under a Commercial General Liability policy has a
General Aggregate limit of $1,000,000 and an Occurrence limit of $100,000.
An injured party is awarded $100,000. What limits will remain available to
the insured?
A. General Aggregate of $1,000,000; Occurrence limit of $100,000
B. General Aggregate of $900,000; Occurrence limit of $100,000
C. General Aggregate of $1,000,000; Occurrence limit of $0
D. General Aggregate of $900,000; Occurrence limit of $0
- ANSWER-B. General Aggregate of $900,000; Occurrence limit of $100,000
A policyholder would expect to find which of the following information in the
Insuring Agreement section of an auto policy?
A. Bodily Injury limits of liability
B. The insurance company's promise to pay on the behalf of the insured
C. Exclusions regarding certain uses of the auto
D. The obligations of the insured in the event of a loss
- ANSWER-B. The insurance company's promise to pay on the behalf of the
insured
, a store, all of the following situations would be considered theft EXCEPT:
A. merchandise being stolen with evidence of forced entry
B. a clerk witnessing a customer shoplifting merchandise
C. a clerk being robbed at gunpoint
D. the store's year-end inventory coming up short by 5 percent
- ANSWER- D. the store's year-end inventory coming up short by 5 percent
Actual cash value is most often defined as:
A. replacement cost less depreciation
B. original purchase price less depreciation
C. stated amount a policy will pay
D. cost to replace
- ANSWER-A. replacement cost less depreciation
After paying a claim, an insurance company may have the right to pursue
legal action against the negligent party. This right is called:
EXAM 2024/2025|QUESTIONS & 100% VERIFIED
ANSWERS||A+ GRADED
A Commercial General Liability policy provides coverage for which of the
following hazards?
A. Professional Liability
B. Employee Injury Liability
C. Pollution Liability
D. Premises Liability
- ANSWER-D. Premises Liability
A legal obligation for injuries that are sustained due to failure to perform a
duty is known as:
A. negligence
B. liability
C. physical hazard
D. claims payment
- ANSWER-B. liability
,A business insured under a Commercial General Liability policy has a
General Aggregate limit of $1,000,000 and an Occurrence limit of $100,000.
An injured party is awarded $100,000. What limits will remain available to
the insured?
A. General Aggregate of $1,000,000; Occurrence limit of $100,000
B. General Aggregate of $900,000; Occurrence limit of $100,000
C. General Aggregate of $1,000,000; Occurrence limit of $0
D. General Aggregate of $900,000; Occurrence limit of $0
- ANSWER-B. General Aggregate of $900,000; Occurrence limit of $100,000
A policyholder would expect to find which of the following information in the
Insuring Agreement section of an auto policy?
A. Bodily Injury limits of liability
B. The insurance company's promise to pay on the behalf of the insured
C. Exclusions regarding certain uses of the auto
D. The obligations of the insured in the event of a loss
- ANSWER-B. The insurance company's promise to pay on the behalf of the
insured
, a store, all of the following situations would be considered theft EXCEPT:
A. merchandise being stolen with evidence of forced entry
B. a clerk witnessing a customer shoplifting merchandise
C. a clerk being robbed at gunpoint
D. the store's year-end inventory coming up short by 5 percent
- ANSWER- D. the store's year-end inventory coming up short by 5 percent
Actual cash value is most often defined as:
A. replacement cost less depreciation
B. original purchase price less depreciation
C. stated amount a policy will pay
D. cost to replace
- ANSWER-A. replacement cost less depreciation
After paying a claim, an insurance company may have the right to pursue
legal action against the negligent party. This right is called:
