CIC COMMERCIAL
CASUALTY INSTITUTE
EXAM NEWEST ACTUAL
EXAM AND PRACTICE
EXAM COMPLETE 220
QUESTIONS AND
CORRECT DETAILED
ANSWERS (VERIFIED
ANSWERS) |ALREADY
GRADED A+
,What are the two promises the insurer makes? - ANSWERS--1. Indemnity
2.Defense
A Commercial General Liability Policy may be written as a - ANSWERS--1. Monoline
Policy
2. Multi-Line Policy
6 different forms of business - ANSWERS--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 - ANSWERS--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 - ANSWERS--On the premises and around the premises
Operations- away from the premises
Premises Liability - ANSWERS--owners, landlords, and tenants and arises out of the
ownership, maintenance, or use of the insured's premises
Business Operations Liability - ANSWERS--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 - ANSWERS--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 - ANSWERS--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: - ANSWERS--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 - ANSWERS--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 - ANSWERS--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 - ANSWERS--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 - ANSWERS--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
CASUALTY INSTITUTE
EXAM NEWEST ACTUAL
EXAM AND PRACTICE
EXAM COMPLETE 220
QUESTIONS AND
CORRECT DETAILED
ANSWERS (VERIFIED
ANSWERS) |ALREADY
GRADED A+
,What are the two promises the insurer makes? - ANSWERS--1. Indemnity
2.Defense
A Commercial General Liability Policy may be written as a - ANSWERS--1. Monoline
Policy
2. Multi-Line Policy
6 different forms of business - ANSWERS--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 - ANSWERS--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 - ANSWERS--On the premises and around the premises
Operations- away from the premises
Premises Liability - ANSWERS--owners, landlords, and tenants and arises out of the
ownership, maintenance, or use of the insured's premises
Business Operations Liability - ANSWERS--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 - ANSWERS--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 - ANSWERS--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: - ANSWERS--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 - ANSWERS--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 - ANSWERS--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 - ANSWERS--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 - ANSWERS--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
