CURRENTLY TESTING EXAM QUESTIONS OF CIC - Commercial Casualty Institute WITH ACTUAL CORRECT DETAILED ANSWERS
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Course
CIC - Commercial Casualty Institute
Institution
CIC - Commercial Casualty Institute
CURRENTLY TESTING EXAM QUESTIONS OF CIC -
Commercial Casualty Institute WITH ACTUAL
CORRECT DETAILED ANSWERS CURRENTLY TESTING EXAM QUESTIONS OF CIC -
Commercial Casualty Institute WITH ACTUAL
CORRECT DETAILED ANSWERS CURRENTLY TESTING EXAM QUESTIONS OF CIC -
Commercial Casualty Insti...
CURRENTLY TESTING EXAM QUESTIONS OF CIC -
Commercial Casualty Institute WITH ACTUAL
CORRECT DETAILED ANSWERS
1.1) If you are designated in the declarations as an individual, who else is an insured? - ANSWER-You
AND your spouse, but only with respect to the business
1.1) If you are designated in the declarations as a partnership or joint venture , who else is an insured? -
ANSWER-You are an insured, your members, partners, and their spouses are also insureds, but only
with respect to the business
1.1) If you are designated in the declarations as an LLC, who else is an insured? - ANSWER-You, your
members, but only in respect to the business. Your managers are insureds, but only in respect to their
duties as managers
1.1) If you are designated in the declarations as an organization other than partnership, joint venture, or
LLC, who else is an insured? - ANSWER-You, your officers, and directors, but only with respect to the
business Stockholders are also insureds, but only in respect to their duties as stockholders
1.1) If you are designated in the declarations as a trust, who else is an insured? - ANSWER-You and
your trustees but only in respect to the business
1.1) Aside from owners, officers, or managers, who else is automatically insureds as well? - ANSWER-
Volunteer Workers (while preforming duties related to the conduct of the business) and Employees
(only in the scope of their employment) Real Estate Managers
,1.1) Volunteer Workers and Employees are automatically insureds. Which type(s) of employees are
NOT automatic insureds? - ANSWER-Temporary or leased workers. They are excluded
1.1) Employees and volunteer workers are not considered automatic insureds when they cause... -
ANSWER-- BI/PD to a named insured
- Injury to the family of a coworker
- BI/AI when providing professional health care services
- Property damage owned by, or in the CCC of a named insured
1.1) Newly acquired organizations are automatic insureds for what period of time? - ANSWER-90 days,
excludes claims that occurred prior to acquisition of new organization.
1.2) What are the two promises found in paragraph 'a.' of the insuring agreement? - ANSWER-
Indemnity and Defense. (Pays sum the insured becomes legally obligated to pay as damages because of
BI/PD and the defense costs)
1.2) Define BI and PD - ANSWER-- BI: sickness or disease, injury, or death
- PD: Physical injury or loss of use to tangible property
1.2) Where must the 'occurrence' take place for coverage to be active? - ANSWER-The coverage
territory
1.2) What is the coverage territory? - ANSWER-US, it's territories and possessions, Puerto Rico and
Canada
1.2) is international airspace part of the coverage territory? - ANSWER-Yes, but only when flying
between locations in the coverage territory
1.2) Under what circumstances is the coverage territory worldwide? - ANSWER-- Product is made or
sold in territory described in coverage territory
- Temporary business travel
- Personal or advertising injury occurs on the web
- SUIT MUST BE BROUGHT IN THE US
, 1.2) Is previously known injury or damage a covered loss? - ANSWER-No.
1.3) Does coverage A apply to expected or intended injury? - ANSWER-No. Expected or intended
injury is an exclusion from Coverage A
1.3) What is Contractual Liability? - ANSWER-Arises from one party assuming responsibility of another
party (Tenant - Landlord, Sub - GC, Lessee - Lessor)
1.3) What is considered an 'Insured Contract'? (LEASEPlus) - ANSWER-- Lease of Premises
- Easement or license agreement (unless within 50 feet of a railroad)
- An obligation to indemnify a municipality or required by ordinance except when working for a
municipality)
- Sidetrack Agreement
- Elevator maintenance agreement
- Plus any other contract which the named insured assumes tort liability of another party to pay BI/PD
to a third party
1.3) What is NOT considered an 'Insured Contract' (Three things) - ANSWER-- A railroad indemnity
agreement
- Architect, engineer, or surveyor indemnity agreement
- Professional Liability for any of the above things
1.3) Is liquor liability excluded from Coverage A? - ANSWER-Yes, however host liquor coverage is
provided if the named insured is not in the business of producing, selling or distributing liquor/alcohol
1.3) Does Coverage A apply to Workers Comp Laws? - ANSWER-No. Excluded
1.3) Is Employers Liability a provided coverage under Coverage A? - ANSWER-No. Excluded
1.3) Pollution is excluded from Coverage A, however there are three exceptions. What are they? -
ANSWER-- BI if sustained within a building and caused by smoke, fumes, vapor or soot originating from
a equipment used to heat, cool, or dehumidify the building, or heat/cool water.
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