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CIC COMMERCIAL CASUALTY INSTITUTE EXAM LATEST UPDATE 2024/2025 PRACTICE EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS FROM VERIFIED SOURCE |ALREADY GRADED A+ CA$25.88   Add to cart
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CIC COMMERCIAL CASUALTY INSTITUTE EXAM LATEST UPDATE 2024/2025 PRACTICE EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS FROM VERIFIED SOURCE |ALREADY GRADED A+
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  • CIC COMMERCIAL CASUALTY INSTITUTE
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  • CIC COMMERCIAL CASUALTY INSTITUTE

CIC COMMERCIAL CASUALTY INSTITUTE EXAM LATEST UPDATE 2024/2025 PRACTICE EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS FROM VERIFIED SOURCE |ALREADY GRADED A+

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  • September 14, 2024
  • 22
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • cic commercial casualty institute exam latest upda
  • cic commercial casualty institute exam
  • cic commercial casualty institute

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  • CIC COMMERCIAL CASUALTY INSTITUTE
  • CIC COMMERCIAL CASUALTY INSTITUTE

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CIC COMMERCIAL CASUALTY INSTITUTE EXAM

LATEST UPDATE 2024/2025 PRACTICE EXAM

WITH COMPLETE QUESTIONS AND CORRECT

DETAILED ANSWERS FROM VERIFIED

SOURCE |ALREADY GRADED A+




Identify the Specific Rights & Responsibilities of the First Named Insured (Objective #1) - ANSWER-1-

Cancel Policy


2- Receive Notice of Cancellation

3- Make Changes to Policy (with Insurer Consent)


4- Payment of Premiums


5- Payee for Returned Premium




Compare and Contrast the Occurrence Form with the Claims Made Form, as to what activates coverage

(Learning Objective #2) - ANSWER-Occurrence Form:


- BI/PD must occur during the policy period

,- P/Adv committed during policy period


- The policy in force when the injury or damage takes place is the one that responds




Claims Made Form:


- BI/PD must occur on or after the Retro Date shown in Declarations


- P/Adv must have been committed on or after the Retro Date


- AND, Claim must be made during the policy period or Extended Reporting Period


- NO COVERAGE if before the Retro Date




Identify various Liability Exposures (8 total) in the CGL Coverage Form ( Part of Learning Objective #3) -

ANSWER-1- Premises Liability


2- Business Operations Liability


3- Products Liability


4- Completed Operations Liability


5- Contractual Liability


6- Contingent Liability


7- Personal Injury Liability


8- Advertising Liability




Premises Liability - ANSWER-Applies to:


- Owners, Landlords, Tenants


- Arises out of the ownership, maintenance or use of the insured's premises

, ONLY applies to designated


- Premises


- Project


- Operation




Business Operations Liability - ANSWER-Arises from activities involved in the operation of an

organization, while the activity is being conducted




Products Liability - ANSWER-- Arises out of the sale, distribution or manufacture of the product




- Coverage begins when the product has left the NI's premises and is no longer in the NI's possession




Completed Operations Liability - ANSWER--Arises from activities involved in the operation of an

organization, after the activity has been concluded




- When the business operation is completed




- Includes: work that may need service, maintenance, correction, repair or replacement, but which is

otherwise complete, will be treated as completed




Contractual Liability - ANSWER-- Arises from one party assuming responsibility of another party

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