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COMMERCIAL AUTO INSURANCE EXAM QUESTIONS AND ANSWERS 100% PASS
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COMMERCIAL AUTO INSURANCE EXAM QUESTIONS AND ANSWERS 100% PASS Commercial Auto Insurance - can be used to cover liability loss exposures, property loss exposures, and personal loss exposures arising out of the ownership, maintenance, or use of autos the most common way a business can incur auto...

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  • December 22, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • commercial auto insurance exam questions and answe

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  • AUTO INSURANCE
  • AUTO INSURANCE

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KatelynWhitman

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COMMERCIAL AUTO INSURANCE EXAM
QUESTIONS AND ANSWERS 100% PASS


Commercial Auto Insurance - ✔✔can be used to cover liability loss exposures, property loss exposures,

and personal loss exposures arising out of the ownership, maintenance, or use of autos




the most common way a business can incur auto liability is through the negligent injury of persons or

damage to property by an employee operating an auto owned by the business


Response Liability - ✔✔rule of placing liability on the employer, is based on the fact that the employee

was acting on behalf of the employer at the time of loss. The employer's liability in this situation is also

referred to as vicarious liability


Employers nonownership liability - ✔✔if an employee uses his or her own auto in performing job duties,

the empoyer is exposed to liability, because the auto is being used to further the employer's business


The Garage Coverage Form - ✔✔contains optional garagekeepers coverage for insuring loss to customers'

autos while they are in the custody of the insured auto or trailer dealer




all other businesses that have a bailee exposure for customers' autos can insure this loss exposure under a

garagekeepers endorsement to their commercial auto coverage forms




the only organizations eligible are: auto and trailer dealers




Created by Katelyn Whitman © 2025, All Rights Reserved.

,2|Page


Auto Physical Damage Insurance - ✔✔covers damage to or destruction of a covered auto. Ordinarily, the

insurer pays the cost of repairing the vehicle or its actual cash value, whichever is less


Personal Loss Exposure - ✔✔describes the possbility of financial loss resulting from injury, sickness, or

death. Anyone who could suffer injury in an auto accident has a personal loss exposure


Components of a Commercial Auto Coverage Part - ✔✔includes the declarations, a commercial auto

coverage form, and any applicable endorsements. A commercial auto coverage part can be included in a

commercial package policy (CPP) or issued as a monoline policy


Business Auto Coverage Form - ✔✔used to insure the auto loss exposures of any organizations that are

not motor carriers (businesses that transport the property of others) or auto or trailer dealers. Also

includes optional provisions for insuring physical damage to autos owned, leased, or hired by the named

insured.




Other auto coverages, such as no-fault, uninsured/underinsured motorists, and auto medical payments,

can be added by endorsement


Garagekeeper Coverage - ✔✔the coverage, included in the Garage Coverage Form, for damage to

customers' autos in the named insured's care


Auto Endorsements - ✔✔a variety of endorsements are available for modifying the terms and conditions

of the commercial auto coverage forms. Endorsements are commonly used to add coverages, to designate

additional insureds, to add or omit exclusions, and to bring standard coverage forms into conformity

with state insurance regulations


Business Auto Coverage Form (BACF) - ✔✔coverage symbols used to designate covered autos allowed

for customizing commercial auto coverage to meet each insured's particular needs




Created by Katelyn Whitman © 2025, All Rights Reserved.

, 3|Page


BACF consists of 5 sections"


-Section I- Covered Autos


-Section II- Liability Coverage


-Section III- Physical Damage Coverage


-Section IV- Business Auto Conditions


-Section V- Definitions


BACF's ten commerical auto coverage symbols - ✔✔defined in Section I:


-Symbol 1-Any Auto- If symbol 1 is entered for a coverage, that coverage is provided for any auto,

including autos owned by the names insured, autos the named insured hires or borrows from others, a

other nonowened autos used in the insured's business. Symbol 1 provides the best protection for the

insured. Ordinarily, this symbol is used for liability coverage only




-Symbol 2- owned autos only-if symbol 2 is entered for a coverage, that coverage applies to all autos

owned by the named insured. Symbol 2 can be used for signaling any coverages under the BACF.

However, when it is used to signal liability coverage, it also includes trailers (or semitrailers) the named

insured does not own while attached to power units owned by the named insured. "Trailer," as defined in

the BACF, includes but is not limited to a semitrailer. Symbol 2 does not cover hired or borrowed autos or

other autos the named insured does not own




Symbol 3-owned private passenger autos only- symbol 3 entered for a coverage indicates that coverage is

provided only for private passenger autos owned by the named insured. Symbol 3 can be used for




Created by Katelyn Whitman © 2025, All Rights Reserved.

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