A condominium unit owner would protect his custom-made closets and custom-built kitchen through

Unit Improvements and Betterments coverage

Why is an umbrella policy purchased?

It may provide broader coverage such as advertising liability

Under the Commercial Building, Equipment, and Stock Form, the definition of Equipment includes

fittings, fixture, and machinery

What is a major consideration when underwriting and rating contractor's equipment?

Knowing exactly how the equipment will be used

Farm policies are usually subject to which of the following clauses?

Rebuilding Clause-Deferred Payment

Under a Personal Liability insurance policy, you are covered for claims arising from

your legal liability for your personal actions anywhere in the world

Tenants' Legal Liability coverage protects you against claims arising from

legal liability for water escape damage to premises you are renting

Which statement describes how coverage is provided for items under a Sports Equipment Floater?

Items are scheduled and should be described as fully as possible

A Commercial Crime Insurance Policy is designed to

offer insureds a number of coverage choices

The Glass Insurance policy provides coverage for

costs for boarding up and fixing window sashes

Under Section II-Liability coverage of the Homeowner's policy premises is defined as

all premises where the named insured or their spouse, maintains a residence

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Misc Review #4

20 termsStudBud Administration36 plays

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Questions 20

Answers

1
When insuring jewellery, the term 'cut' in the valuations done by a gemologist usually refers to the shape of
necklaces
ring bands
earrings
diamonds
2
A condominium unit owner would protect his custom-made closets and custom-built kitchen through
Unit Improvements and Betterments coverage
Unit additional protection
Contents and Personal Belongings coverage
Loss Assessment coverage
3
Which of the following forms provides all risks coverage on Dwelling Building and Personal Property?
Mobile Homeowner's Form
Homeowner's Comprehensive Form
Condominium Comprehensive Form
Homeowner's Broad Form
4
When insuring jewellery, the term 'cultured' in the valuations done by gemologists usually refers to
rings
crystal pins
watches
pearls
5
Why is an umbrella policy purchased?
It may provide broader coverage such as advertising liability
Helps restrict the policy territory to Canada and the US
Acts as primary coverage for auto insurance policies
Purchased when high limits are needed on one very specific type of covg
6
Under the Commercial Building, Equipment, and Stock Form, the definition of Equipment includes
permanent shelving, temporary fixtures, and maintenance supplies
goods, stock, and merchandise of every description
fittings, fixture, and machinery
growing plants, shrubs, and trees inside the building
7
What is a major consideration when underwriting and rating contractor's equipment?
Knowing exactly how the equipment will be used
Who owns the pieces of equipment
Whether a deductible clause applies
Whether a coinsurance clause applies
8
Farm policies are usually subject to which of the following clauses?
Permission Granted Clause
Rebuilding Clause-Deferred Payment
Loss Settlement Clause
Farm Machinery Clause
9
A Personal Articles Endorsement is used to cover
outboard motors
sculptures
fire arms
paintings
10
Which of the following is covered under Personal Liability coverage, but subject to limitations?
Radioactive materials
Motorized vehicles
Government vacant land
Farming property
11
Under a Personal Liability insurance policy, you are covered for claims arising from
your ownership of a scooter being operated by your employee for pleasure
bodily injury to a guest visiting your home other than a residence employee
your legal liability for your personal actions anywhere in the world
damage to property you own, use, or occupy
12
Tenants' Legal Liability coverage protects you against claims arising from
bodily injury to a person living in your rented home other than an employee
legal liability for water escape damage to premises you are renting
legal liability for damage to property you own
your ownership of an aircraft being operated by your employee
13
Which statement describes how coverage is provided for items under a Sports Equipment Floater?
Items are scheduled and should be described as fully as possible
Items are covered for damage while in use
Coverage is not subject to exclusions
Coverage is provided on a specified perils basis
14
A Commercial Crime Insurance Policy is designed to
provides all risk coverage on crime exposures anywhere in Canada and the US
cover all possible crime exposures under one wording
offer insureds a number of coverage choices
cover both crime and fidelity losses
15
The Glass Insurance policy provides coverage for
breakage from fire
fire damage for an additional premium
costs for boarding up and fixing window sashes
scratching and defacement
16
When underwriting a fire insurance policy, which of the following refers to the susceptibility of paper to water damage?
Damageability
Irritability
Combustibility
Perishability
17
Which coverage is provided by farmers' liability policies?
Involuntary Payment for Damage to Property
Voluntary Compensation for Residence Employees
Premises liability
Employers' liability
18
Personal lines policies cover
the home itself
vacation property
mobile homes
all of the above
19
Under Section II-Liability coverage of the Homeowner's policy premises is defined as
any residential or other commercial property
the land adjacent to the lot lines on which the dwelling is situated
all premises where the named insured or their spouse, owns vacant farm land
all premises where the named insured or their spouse, maintains a residence
20
Which type of policy covers the liability arising out of a dentist's profession?
Owner's and contractors protective liability
Pollution liability
Garage liability
Professional Liability

Misc Review #4 Flashcards | StudBud