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CIC - Commercial Casualty Institute Exam Questions and Answers
CIC - Commercial Casualty Institute Exam Questions and Answers Identify the Specific Rights & Responsibilities of the First Named Insured (Objective #1) - Ans ️️ 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) - Ans ️️ Occurrence Form: - BI/PD must occur ...
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- • 21 pages •
CIC - Commercial Casualty Institute Exam Questions and Answers Identify the Specific Rights & Responsibilities of the First Named Insured (Objective #1) - Ans ️️ 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) - Ans ️️ Occurrence Form: - BI/PD must occur ...
CIC Commercial Property Exam Questions with Complete Solutions
CIC Commercial Property Exam Questions with Complete Solutions Learning Objective 1A - Rights and Duties of the first Named Insured - Answer️️ 1. Authorization to Cancel 2. Receive Cancellation 3. Make Changes with Insurer Consent 4. Responsible for Payment of Premium 5. Payee (Receiver) for Return Premium Learning Objective 1B - How does Coinsurance apply? - Answer️️ Amount Carried/Amount Required x Loss = Recovery-Deductible (Settlement) or "Did Have"/"Should Have" x Loss...
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CIC Commercial Property Exam Questions with Complete Solutions Learning Objective 1A - Rights and Duties of the first Named Insured - Answer️️ 1. Authorization to Cancel 2. Receive Cancellation 3. Make Changes with Insurer Consent 4. Responsible for Payment of Premium 5. Payee (Receiver) for Return Premium Learning Objective 1B - How does Coinsurance apply? - Answer️️ Amount Carried/Amount Required x Loss = Recovery-Deductible (Settlement) or "Did Have"/"Should Have" x Loss...
CIC Commercial Multi-line Exam Prep Questions Answers
CIC Commercial Multi-line Exam Prep Questions Answers Distinguish between Covered Property and Property Not Covered under the Businessowners Coverage Form. - Answer ️️ Covered: Buildings: Includes PP of landlord (common areas, furnished) Covers Bridges, Retaining Walls, Wharves, Docks Replacement Cost BPP: Includes Property of Others (in CCC) Exterior Building Glass Replacement Cost Not Covered: Money/Securities Fences, radios, antennas, towers, signs (detached) plants Install...
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CIC Commercial Multi-line Exam Prep Questions Answers Distinguish between Covered Property and Property Not Covered under the Businessowners Coverage Form. - Answer ️️ Covered: Buildings: Includes PP of landlord (common areas, furnished) Covers Bridges, Retaining Walls, Wharves, Docks Replacement Cost BPP: Includes Property of Others (in CCC) Exterior Building Glass Replacement Cost Not Covered: Money/Securities Fences, radios, antennas, towers, signs (detached) plants Install...
CIC COMMERCIAL PROPERTY EXAM QUESTIONS & ANSWERS
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CIC Commercial Property II Causes of Loss Exam Questions and Answers
CIC Commercial Property II Causes of Loss Exam Questions and Answers Peril - Ans ️️ Synonymous with "Causes of Loss" Burden of proof in Open Causes of Loss Form - Ans ️️ Burden falls on insurer Burden of proof in Named Causes of Loss form - Ans ️️ Insured has burden of proof Covered perils under Basic Form - Ans ️️ Fire, Lightning, Explosion, Windstorm/Hail, Smoke, Aircraft/vehicles, Riot, Vandalism, Sprinkler leakage, Sinkhole, Volcano, Fungus Additional coverages und...
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- • 8 pages •
CIC Commercial Property II Causes of Loss Exam Questions and Answers Peril - Ans ️️ Synonymous with "Causes of Loss" Burden of proof in Open Causes of Loss Form - Ans ️️ Burden falls on insurer Burden of proof in Named Causes of Loss form - Ans ️️ Insured has burden of proof Covered perils under Basic Form - Ans ️️ Fire, Lightning, Explosion, Windstorm/Hail, Smoke, Aircraft/vehicles, Riot, Vandalism, Sprinkler leakage, Sinkhole, Volcano, Fungus Additional coverages und...
CIC Commercial Property - Inland Marine Coverage Exam Questions and Answers
CIC Commercial Property - Inland Marine Coverage Exam Questions and Answers What is Commercial Inland Marine? - Answer ️️ Imports, Exports, Domestic Shipments, Instrumentalities for Transportation, Personal Property Floater and Commercial Floater Two types of property that can be included on the inland marine? - Answer ️️ Tangible and Intangible Property Types of Inland Marine Policies? - Answer ️️ Builders Risk, Installation Floater, Contractors Equipment, and Transportation...
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- • 3 pages •
CIC Commercial Property - Inland Marine Coverage Exam Questions and Answers What is Commercial Inland Marine? - Answer ️️ Imports, Exports, Domestic Shipments, Instrumentalities for Transportation, Personal Property Floater and Commercial Floater Two types of property that can be included on the inland marine? - Answer ️️ Tangible and Intangible Property Types of Inland Marine Policies? - Answer ️️ Builders Risk, Installation Floater, Contractors Equipment, and Transportation...
CIC Commercial Property Causes of loss forms ch 2 Exam
CIC Commercial Property Causes of loss forms ch 2 Exam 2.1 Given a loss situation, determine whether or not a loss is covered by the Basic, Broad, or Special Causes of Loss Forms and give reasons for your answer - Answer ️️ Basic Form CP1010 Broad Form* FLEWSARV LSV Fire* Lightning* Explosion* Windstorm or Hail* Smoke* Aircraft or Vehicles* Riot or Civil Commotion* Vandalism* Sprinkler Leakage* Sinkhole Collapse* Volcanic Action 2. Apply the exclusions of the Cause of Loss -...
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- • 5 pages •
CIC Commercial Property Causes of loss forms ch 2 Exam 2.1 Given a loss situation, determine whether or not a loss is covered by the Basic, Broad, or Special Causes of Loss Forms and give reasons for your answer - Answer ️️ Basic Form CP1010 Broad Form* FLEWSARV LSV Fire* Lightning* Explosion* Windstorm or Hail* Smoke* Aircraft or Vehicles* Riot or Civil Commotion* Vandalism* Sprinkler Leakage* Sinkhole Collapse* Volcanic Action 2. Apply the exclusions of the Cause of Loss -...
CIC Commercial Multiline Section 3 Crime Exam Questions and Answers
CIC Commercial Multiline Section 3 Crime Exam Questions and Answers Identify the reasons for purchasing commercial crime insurance based on the exclusions and limitations of the Building and Personal Property Coverage Form with Causes Of Loss- Special Form - Answer ️️ Commercial Property policy does not coverage bills, currency, money, notes, accounts etc... limitations of the C.P.= -doesn't pay for mysterious disapperance -not covered for unathuorized property transfer -small limi...
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CIC Commercial Multiline Section 3 Crime Exam Questions and Answers Identify the reasons for purchasing commercial crime insurance based on the exclusions and limitations of the Building and Personal Property Coverage Form with Causes Of Loss- Special Form - Answer ️️ Commercial Property policy does not coverage bills, currency, money, notes, accounts etc... limitations of the C.P.= -doesn't pay for mysterious disapperance -not covered for unathuorized property transfer -small limi...
CIC Commercial Multi-Line Exam Questions and Answers
CIC Commercial Multi-Line Exam Questions and Answers Describe how inland marine insurance started - Answer ️️ -evolved from ocean marine -filled gap in coverage as good transitioned from ocean marine -cover goods in transit over land Does inland marine also apply to instruments of transportation and communication? - Answer ️️ Yes, ex. Bridges, tunnels, piers, cell towers, pipelines. What is the basic exclusion applicable to inland marine? - Answer ️️ Property in a fixed loca...
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CIC Commercial Multi-Line Exam Questions and Answers Describe how inland marine insurance started - Answer ️️ -evolved from ocean marine -filled gap in coverage as good transitioned from ocean marine -cover goods in transit over land Does inland marine also apply to instruments of transportation and communication? - Answer ️️ Yes, ex. Bridges, tunnels, piers, cell towers, pipelines. What is the basic exclusion applicable to inland marine? - Answer ️️ Property in a fixed loca...
CIC Commercial Property Exam Questions with Answers
CIC Commercial Property Exam Questions with Answers Actual Cash Value (ACV) - Answer ️️ replacement cost less an allowance for insurance depreciation, wear and tear, or obsolescence Advance premium - Answer ️️ initial premium paid to begin coverage on a policy Agreed Value - Answer ️️ a limit agreed upon by the underwriter and Named Insured that is deemed adequate, therefore, suspending the coinsurance clause Bailee - Answer ️️ person or organization that has possession of ...
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- • 5 pages •
CIC Commercial Property Exam Questions with Answers Actual Cash Value (ACV) - Answer ️️ replacement cost less an allowance for insurance depreciation, wear and tear, or obsolescence Advance premium - Answer ️️ initial premium paid to begin coverage on a policy Agreed Value - Answer ️️ a limit agreed upon by the underwriter and Named Insured that is deemed adequate, therefore, suspending the coinsurance clause Bailee - Answer ️️ person or organization that has possession of ...
Xcel Solutions Property & Casualty Exam Questions and Answers
INSY-3303 FINAL EXAM STUDY GUIDE WITH COMPLETE SOLUTIONS
the answers are incorrect
Product Owner/ Product Manager(POPM) SAFe Agile Exam Questions and Answers
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