CISR PERSONAL LINES MISCELLANEOUS EXAM ACTUAL EXAM 100 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES
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Course
CISR PERSONAL LINES MISCELLANEOUS
Institution
CISR PERSONAL LINES MISCELLANEOUS
What is the Permitted Incidental Occupancies - Residence Premises HO 04 42 used
for? - ....ANSWER...An other structure with an eligible incidental "business" exposure
typically offices, schools, or studios.
RATIONALE: The Limit of Liability & Description of Other Structure must be shown in
t...
CISR PERSONAL LINES MISCELLANEOUS EXAM
2023-2024 ACTUAL EXAM 100 QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
RATIONALES |AGRADE
What is the Permitted Incidental Occupancies - Residence Premises HO 04 42 used
for? - ....ANSWER...An other structure with an eligible incidental "business" exposure
typically offices, schools, or studios.
RATIONALE: The Limit of Liability & Description of Other Structure must be shown in
the Schedule.
Under a standard ISO Homeowners policy, what are the two Coverage C - Personal
Property Special Limits of Liability that apply to property used primarily for business? -
....ANSWER...1 - $2,500.00 for personal property used primarily for "business" while on
the "residence premises."
2 - $1,500.00 for personal property used primarily for "business" while away from the
"residence premises"
RATIONALE: *The limitations do not apply to property used occasionally for "business."
What is the Increased Limits on Business Property HO 04 12 endorsement used for? -
....ANSWER...To increase the Special Limit of Liability for "business" (personal)
property on the "residence premises" to a maximum of $10,000.00.
What limit is the Special Limit of Liability automatically set to for property away from the
"residence premises" under the Increased Limits on Business Property HO 04 12? -
....ANSWER...60% of the limit of property on the "residence premises."
What does the Increased Limits on Business Property HO 04 12 not provide coverage
on? - ....ANSWER...1 - "Business" property that pertains to a "business" actually
conducted on the "residence premises."
2 - "Business" property in storage or held as a sample or for sale or delivery after a sale.
What is the Permitted Incidental Occupancies - Residence Premises HO 04 42
endorsement used for? - ....ANSWER...Applies to personal property used in the
"business" described in the Schedule & removes the $2,500.00 "business" limit for
property on the "residence premises" for furnishings, supplies, and equipment. Property
, other than furnishings, supplies, and equipment is still limited to $2,500.00. Samples,
inventory, and items sold but not delivered are limited.
Under Coverage C - Personal Property, what are the three exclusions that pertain to
"business" property? - ....ANSWER...1 - Property in an apartment regularly rented or
held for rental to others by an "insured."
2 - Business data including such data stored in items such as paper records,
computers, and related equipment.
3 - Credit cards, electronic fund transfer cards or access devices used solely for
deposit, withdrawal or transfer of funds.
What is the Landlord's Furnishings HO 05 46 endorsement used for? - ....ANSWER...To
increase the Personal Property Limit to a maximum of $10,000.00 on property regularly
rented or held for rental to others by an insured.
What does the Coverage E - Personal Liability Insuring Agreement state? -
....ANSWER...The insurance company will provide coverage for a claim against an
"insured" for damages because of "bodily injury" or "property damage" caused by an
"occurrence" covered by the policy.
What does the Coverage F - Medical Payments to Others Insuring Agreement state? -
....ANSWER...The insurance company will pay necessary medical expenses incurred
within three years from the date of the accident causing "bodily injury."
What are the exceptions to the "business" exclusion that give back both personal
liability and medical payments to others coverage for some "business" activities? -
....ANSWER...1 - The rental or holding for rental of an "insured location" if on an
occasional basis if used only as a residence.
2 - The rental or holding for rental of an "insured location" in part for use as a residence
unless the tenant intends to have more than 2 roomers or boarders.
3 - The rental or holding for rental of an "insured location" in part as an office, school,
studio, or private garage.
4 - An "insured" under the age of 21 in a part-time or occasional self-employed
"business" with no employees.
*No "bodily injury" or "property damage" arising out of the rendering of or failure to
render professional services.
What kind of coverages does the Structures Rented to Others - Residence Premises
HO 04 40 endorsement provide? - ....ANSWER...Property & liability coverage for an
other structure that is rented to others for use as a private residence.
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