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RMI 3011 Exam 3 RMI 3011 Florida State University -Question and answers verified to pass $13.49   Add to cart

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RMI 3011 Exam 3 RMI 3011 Florida State University -Question and answers verified to pass

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RMI 3011 Exam 3 RMI 3011 Florida State University -Question and answers verified to pass The phrase "general liability" is used to refer to the legal liability of a business arising from all of the following EXCEPT A) employees injured on the job. B) defective products. C) liability assumed by...

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  • November 30, 2024
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RMI 3011 Exam 3 Question and answers
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The phrase "general liability" is used to refer to the legal liability of a business
arising from all of the following EXCEPT
A) employees injured on the job.
B) defective products.
C) liability assumed by contract.
D) completed operations. - correct answer ✔A) employees injured on the job.


Liability arising out of work performed by independent contractors is referred
to as
A) contractual liability.
B) contingent liability.
C) care, custody, and control liability.
D) customer's liability. - correct answer ✔B) contingent liability.


A customer was injured when a furnace exploded following its faulty
installation by a heating and cooling business. For the heating and cooling
business, this is an example of
A) contingent liability.
B) completed operations liability.
C) products liability.
D) contractual liability. - correct answer ✔B) completed operations liability.


The Commercial General Liability (CGL) Policy covers liability arising out of
which of the following loss exposures?

,I. Bodily injury of an employee of the insured arising out of and in the course
of employment
II. Bodily injury of a customer injured by a defective product manufactured by
the insured
A) I only
B) II only
C) both I and II
D) neither I nor II - correct answer ✔B) II only


Which of the following exposures is covered under a Commercial General
Liability Policy with no endorsements?
A) liability arising out of seepage of pollutants
B) employment-related practices liability
C) personal injury liability
D) aircraft liability - correct answer ✔C) personal injury liability


Bay Gallery owns a building a Wharf Street. Bay Gallery purchased a
Commercial General Liability Policy with no endorsements. All of the following
claims would be covered under the policy EXCEPT
A) An artist sued the gallery for slander after an employee of the gallery said
the artist's work looks like it was painted by an intoxicated monkey.
B) A customer is injured when a painting falls from the wall and strikes the
customer.
C) A customer is injured after falling on a slippery floor at the gallery.
D) An employee of the gallery accidentally started a fire that caused extensive
damage to the building. - correct answer ✔D) An employee of the gallery
accidentally started a fire that caused extensive damage to the building.

,Which of the following losses would be covered under a Commercial General
Liability Policy that has no endorsements?
I. The named insured rented a building and an employee of the named
insured negligently started a fire at the rented building.
II. The cost to recall defective products
A) I only
B) II only
C) both I and II
D) neither I nor II - correct answer ✔A) I only


Which of the following is (are) covered under an unendorsed Commercial
General Liability Policy?
I. False arrest of a customer wrongly accused of shoplifting
II. Publication of material that violates an individual's right to privacy
A) I only
B) II only
C) both I and II
D) neither I nor II - correct answer ✔C) both I and II


In addition to the named insured, all of the following are insureds under the
Commercial General Liability Policy EXCEPT
A) suppliers of products to the named insured's business.
B) the insured's employees while acting within the scope of their employment.
C) the manager of the insured's real estate.
D) partners of the named insured. - correct answer ✔A) suppliers of products
to the named insured's business.


Which of the following is (are) covered under a claims-made policy?

, I. Claims arising out of occurrences which take place during the policy period,
regardless of when the claim is made
II. Claims first reported during the policy period, provided the event occurred
after a retroactive date stated in the policy
A) I only
B) II only
C) both I and II
D) neither I nor II - correct answer ✔B) II only


A provision included in a claims-made commercial general liability policy
provides coverage for claims filed after the policy has expired. This provision
is called a(n)
A) extended reporting period provision.
B) agreed amount endorsement.
C) retroactive date provision.
D) per-occurrence limit clause. - correct answer ✔A) extended reporting
period provision.


Which of the following statements about workers compensation insurance is
(are) true?
I. Under the workers compensation part of the policy, the insurer agrees to
pay the benefits required by the workers compensation law of any state listed
in the policy declarations.
II. The employers liability part of the policy provides workers compensation
benefits when employees are working in states other than those listed in the
policy declarations.
A) I only
B) II only
C) both I and II

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