Property & Casualty Practice EXAM Questions with complete solutions

All the following are considered an insured under Part A liability coverage, of the personal auto policy EXCEPT! correct answer: Employer while insured is driving a company car. A bank customer's identity was compromised and the thieves made numerous purchases from a retailer by signing the customer's checks. When the bank refused to make payment for the goods, the retailer brought suit against the bank. which coverage indemnified the bank for liability in the suit? correct answer: Forgery and alteration Which of the following best describes the CGL's general aggregate annual limit as it applies to the coverage parts of the CGL? correct answer: Coverage A, B and C apply in sum and are the most that will be paid subject to the general aggregate annual limit. Which type of crime listed below best describes someone who waits until store personnel are preoccupied and pockets merchandise while no one is looking and leaves without detection? correct answer: Theft The claims-made liability form provides coverage from a date that precedes the policy effective date. Which of the following defines that date? correct answer: retroactive date Which of the following is how defense costs are paid in relation to the limit of insurance under the personal auto policy for bodily injury and property damage part A-liability coverage? correct answer: in excess of the limit