AU 62 Chapter 2 Test Questions and Answers All Correct
1 view 0 purchase
Course
AU 62
Institution
AU 62
AU 62 Chapter 2 Test Questions and Answers All Correct
Electronic Data Liability Coverage Form - Answer- covers the insured's liability for loss of electronic data caused by an electronic data incident
Product Withdrawal Coverage Form - Answer- Covers the costs of withdrawing or recalling pro...
AU 62 Chapter 2 Test Questions
and Answers All Correct
Electronic Data Liability Coverage Form - Answer- covers the insured's liability for loss
of electronic data caused by an electronic data incident
Product Withdrawal Coverage Form - Answer- Covers the costs of withdrawing or
recalling products from the market
Components of a General Liability Coverage Part - Answer- 1. One or more general
liability declaration forms
2. One or more general liability coverage forms
3. Any applicable endorsements
General Liability Declarations - Answer- insurer's and producer's names
the named insured's name and mailing address
policy inception and expiration dates
limits of insurance
description of named insured's business
rating and premium audit information
a list of endorsements attached to the policy
General Liability Coverage Forms - Answer- Coverages
Who is Insured
Limits of Insurance
Conditions
Definitions
Commercial Lines Manual (CLM) - Answer- an ISO publication that includes rules and
rating procedures for several major lines of commercial insurance
underwriting technician - Answer- a specialist in policy pricing and issuance preparation
who performs the mechanics or pricing for an insurer
Three-step classification process - Answer- 1. determine the insured's business
operation
2. check the appropriate classification (classification tables)
3. apply additional rules based on the insured's business group
Five Business Groups of CLM - Answer- 1. Manufacturing and Processing
2. Contracting or Servicing
3. Mercantile
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 Scholarsstudyguide. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
