100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
BOP Exam Questions with 100% Correct Answers $12.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. BOP
  4.  
  5. BOP

Exam (elaborations)

BOP Exam Questions with 100% Correct Answers

 0 purchase
  • Course
  • BOP
  • Institution
  • BOP

Which of the following statements concerning the businessowners policy (BOP) is correct? A) Manufacturing businesses are generally eligible for coverage B) It is most commonly used to insure large businesses C) The BOP is designed to provide property and liability coverage for small or les...

[Show more]

Preview 2 out of 6  pages

Document information

  • June 12, 2024
  • 6
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • which of the following statements concerning the b

Written for

  • BOP
  • BOP

Seller

avatar-seller
ExamsGuru

Reviews received

Content preview

BOP Exam Questions with 100% Correct Answers Which of the following statements concerning the businessowners policy (BOP) is correct?
A) Manufacturing businesses are generally eligible for coverage
B) It is most commonly used to insure large businesses
C) The BOP is designed to provide property and liability coverage for small or less complex businesses.
D) Eligibility rules are based on an applicant's loss history. Correct Answer C) The BOP is designed to provide property and liability coverage for small or less complex businesses.
Per the ISO eligibility rules, which of the following types of buildings would be eligible
for coverage under a businessowners policy (BOP)?
A) A 30,000 square foot insurance agency.
B) A six-story, 120,000 square foot office building
C) A seven-story 75,000 square foot office building.
D) A 200,000 square foot bakery with annual sales in excess of $6,000,000. Correct Answer A) A 30,000 square foot insurance agency.
All of the following types of businesses are ineligible for the ISO BOP due to the severity of risk and/or special coverage situations EXCEPT:
A) Auto repairers.
B) Funeral homes.
C) Bars, pubs and cocktail lounges.
D) Financial institutions. Correct Answer funeral homes
Which of the following statements is/are correct?
I. The BOP provides coverage for all buildings and structures located at the premises
described in the Declarations; that is, only the premises must be described for any building located at the described premises to be covered.
II. The B&PP Coverage Form only provides coverage for buildings or structures specifically described in the Declarations. Correct Answer C) Both I & II.
Which of the following statements is/are correct?
I. The Named Perils Endorsement (BP 10 09) to the Businessowners Coverage Form provides the same causes of loss coverage as the Causes of Loss - Basic Form, plus limited off-premises transit coverage. II. This named perils coverage form is frequently used by businesses because it provides broad coverage at an economical price. Correct Answer A) I only.
The business income and extra expense coverage under a BOP is typically subject to which one of the following limitations?
A) Specific dollar limit.
B) Coinsurance.
C) Monthly limit of indemnity.
D) 12 consecutive months limitation. Correct Answer D) 12 consecutive months limitation.
Which of the following statements concerning a typical Businessowners Coverage Form is/are correct?
I. The causes of loss are contained within the Businessowners Coverage Form; this is in contrast to the B&PP Coverage Form where the Causes of Loss Form is attached to the B&PP.
II. The list of property not covered under the BOP is shorter than the list of property not covered under the B&PP Coverage Form. Correct Answer C) Both I & II.
Which of the following statements concerning differences between the BOP and CGL policy is/are true?
I. The BOP has its own set of conditions contained within the Businessowners Coverage Form while the CGL policy utilizes common policy conditions shared with other coverage forms.
II. While the CGL states it provides primary coverage (subject to a few exceptions), the BOP is excess over any other applicable coverage. Correct Answer C) Both I & II.
All of the following statements concerning BOP Endorsement BP 04 04 are true EXCEPT:
A) An insured business with a BOP who doesn't own any autos and does not have a Commercial Auto Policy would benefit from purchasing the Hired Auto and Non-
Owned Auto.Liability endorsement.
B) The Hired Auto and Non-Owned Auto Liability endorsement is also available under a CGL coverage form.
C) Coverage under the Hired Auto and Non-Owned Auto Liability endorsement can be purchased for hired auto liability and/or non-owned auto liability.
D) A car rented by the named insured or an employee while on company business is
an example of a "hired auto." Correct Answer B) The Hired Auto and Non-Owned Auto Liability endorsement is also available under a CGL coverage form.
Which of the following statements concerning the Businessowners Coverage Form Section II - Liability is correct?

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamsGuru. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67479 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$12.99
  • (0)
Add to cart
Added