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CISR - Personal Lines Miscellaneous COMPLETED, WELL ANSWERED AND GRADED A+.pdf
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CISR - Personal Lines Miscellaneous COMPLETED, WELL ANSWERED AND GRADED A+.pdf
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9/11/24, 3:23 AMCISR - Personal Lines Miscellaneous
Jeremiah
Practice questions for this set
Terms in this set (90)
Skilled manual or mechanical work.
CISR - Personal Lines Miscellaneous
A vocation requiring advanced education and training.
What is a profession?
Examples: Physician, Dentist, Attorney, Veterinarian, etc.
An activity or pursuit in which a person is engaged; a person's usual or principal work or
What is an occupation?
business.
Part 1 - A business includes a trade, profession, or occupation engaged in on a full-time,
part-time, or occasional basis.
What are the two parts of the definition of
"Business"?
Part 2 - A business is any activity that is engaged in for money or other compensation
unless it is one of four cited activities.
1 - One or more activities for which no "insured" received more than $2,000 in the 12
months prior to the beginning of the policy period.
2 - Volunteer activities where no compensation is received other than reimbursement of
expenses.
What are the four cited activities that can
void the definition of business?
3 - Home day care provided without compensation even if there is a mutual exchange
of day care services.
4 - Home day care to a relative of an "insured" even if receiving compensation for the
services.
Is coverage for a loss to the Coverage A - No - there is not a limitation or exclusion for a dwelling with a "business" exposure.
Dwelling effected by "business" use?
What does the Homeowners 3 - Special It automatically includes Coverage B - Other Structures coverage up to 10% of
Form policy automatically include in regards Coverage A - Dwelling limit.
to Coverage A - Dwelling & Coverage B -
Other Structures?
1 - An other structure that is rented or held for rental to anyone not a tenant of the
dwelling unless for use solely as a private garage.
Under the Homeowners 3 - Special Form 2 - An other structure with a business conducted in it.
policy, what three exclusions apply to an
other structure? 3 - An other structure used to store "business" property unless the property is both: (1)
Owned solely by an "insured" or tenant of the dwelling & (2) The "business" property is
not gaseous or liquid fuel unless it is in a permanently installed fuel tank of a vehicle or
craft parked or stored in the structure.
Used to obtain coverage for an other structure that is rented to others for use as a
What is the Structures Rented to Others -
private residence.
Residence Premises HO 04 40 endorsement
used istoa obtain?
What trade?
The other structure is described in the Schedule with a Limit of Liability.
Examples: Painter, Carpenter, Electrician, etc.
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, 9/11/24, 3:23 AM
An other structure with an eligible incidental "business" exposure typically offices,
What is the Permitted Incidental
schools, or studios.
Occupancies - Residence Premises HO 04
42 used for?
The Limit of Liability & Description of Other Structure must be shown in the Schedule.
1 - $2,500.00 for personal property used primarily for "business" while on the "residence
premises."
Under a standard ISO Homeowners policy,
what are the two Coverage C - Personal
2 - $1,500.00 for personal property used primarily for "business" while away from the
Property Special Limits of Liability that apply
"residence premises"
to property used primarily for business?
CISR - Personal Lines Miscellaneous
What is the Increased Limits on Business To increase the Special Limit of Liability for "business" (personal) property on the
Property HO 04 12 endorsement used for? "residence premises" to a maximum of $10,000.00.
What limit is the Special Limit of Liability 60% of the limit of property on the "residence premises."
automatically set to for property away from
the "residence premises" under the
Increased Limits on Business Property HO 04
12?
1 - "Business" property that pertains to a "business" actually conducted on the
What does the Increased Limits on Business
"residence premises."
Property HO 04 12 not provide coverage
on?
2 - "Business" property in storage or held as a sample or for sale or delivery after a sale.
Applies to personal property used in the "business" described in the Schedule &
What is the Permitted Incidental removes the $2,500.00 "business" limit for property on the "residence premises" for
Occupancies - Residence Premises HO 04 furnishings, supplies, and equipment. Property other than furnishings, supplies, and
42 endorsement used for? equipment is still limited to $2,500.00. Samples, inventory, and items sold but not
delivered are limited.
1 - Property in an apartment regularly rented or held for rental to others by an "insured."
Under Coverage C - Personal Property, what 2 - Business data including such data stored in items such as paper records, computers,
are the three exclusions that pertain to and related equipment.
"business" property?
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 To increase the Personal Property Limit to a maximum of $10,000.00 on property
endorsement used for? regularly rented or held for rental to others by an insured.
The insurance company will provide coverage for a claim against an "insured" for
What does the Coverage E - Personal
damages because of "bodily injury" or "property damage" caused by an "occurrence"
Liability Insuring Agreement state?
covered by the policy.
What does the Coverage F - Medical The insurance company will pay necessary medical expenses incurred within three
Payments to Others Insuring Agreement years from the date of the accident causing "bodily injury."
state?
*The limitations do not apply to property used occasionally for "business."
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