47 notecards = 12 pages (4 cards per page)
Which of the following is (are) included in the common declarations page of a commercial package policy?
Which of the following items is (are) contained in the common policy conditions page of the commercial package policy?
Which of the following is covered under the building and personal property coverage form?
Which of the following statements about the building and personal property coverage form is (are) true?
All of the following are extensions of coverage under the building and personal property coverage form EXCEPT
Which of the following statements about the provisions of the building and personal property coverage form is (are) true?
One of the additional coverages under the building and personal property coverage form is "increased cost of construction." The coverage is payable if
What is the effect of the optional agreed value provision in the building and personal property coverage form?
Which of the following perils is not included in the causes-of-loss basic form of the ISO commercial package policy?
Which of the following statements about the causes-of-loss special form of the ISO commercial package policy is (are) true?
Which of the following statements is (are) true concerning the value reporting form?
Which of the following types of forms is used to insure fluctuations in business personal property, such as inventory and finished goods?
Which of the following statements about the business income coverage form is true?
The building and personal property coverage form provides several optional coverages. Under one optional coverage, no deduction is taken for depreciation when settling a covered loss. This optional coverage is called
Which of the following statements about the extra expense coverage form is (are) true?
XYZ, Inc. would suffer serious financial consequences if either of its two major customers were shut down and could not purchase XYZ products. Which of the following types of consequential loss protection would provide protection against this exposure?
Which of the following forms is used to insure buildings that are under construction?
Which of the following statements about the condominium commercial-unit owners coverage form is (are) true?
All of the following statements about business income insurance are true EXCEPT
Which of the following statements about the equipment breakdown protection coverage form is (are) true?
Reimbursement for spoilage of frozen food caused by failure of a refrigeration unit at a frozen foods processor can be covered under
One inland marine coverage form is the accounts receivable coverage form. In which of the following cases would the purchaser of this form (the insured) be indemnified through the coverage?
Which of the following statements describes a Difference in Conditions (DIC) Policy?
Which of the following statements about ocean marine insurance coverages is (are) true?
There are a number of implied warranties in ocean marine insurance. One implied warranty is that the vessel is properly constructed and maintained, and that it is properly equipped for the voyage to be undertaken. This implied warranty is the warranty of
Which of the following statements about ocean marine insurance is true?
All of the following are considered to be instrumentalities of transportation and communication for purposes of inland marine insurance EXCEPT
All of the following statements about inland marine forms are true EXCEPT
A firm wishing to insure a single shipment of merchandise sent by a common carrier would purchase a(n)
Which of the following statements about the businessowners policy is (are) true?
All of the following statements about the businessowners policy are true EXCEPT
Renee is risk manager of XYZ Company. She purchased a Commercial Package Policy for her company and added one optional coverage. This option suspends the coinsurance clause and substitutes a new agreement covering any loss in the same proportion that the limit of insurance purchased bears to a value specified in the declarations. This provision is known as
Frank's property insurance requires periodic reporting of inventory values. Frank believes he can save money by under-reporting the inventory. Last period, Frank reported $200,000 when the value was really $400,000. Shortly after filing the report, when the value was $500,000, the inventory was destroyed. Ignoring any deductible, how much will Frank's insurer pay?
Rick is risk manager of Herald News, a daily newspaper in a competitive market. Rick wants to make sure that if Herald's printing facility is damaged or destroyed, the paper will continue to be published. What type of insurance can Rick purchase to cover the added cost of continuing to print the paper after a physical damage loss has occurred?
One type of commercial property insurance excludes perils that are covered by the basic coverages. Some businesses buy this coverage to fill coverage gaps, including flood and earthquake, and to cover property in other countries. This type of insurance is called
Inter-Ocean Transfer owns 12 large cargo ships which transport goods. Inter-Ocean Transfer can obtain physical damage insurance on these vessels by purchasing
An Inter-Ocean Transfer cargo ship was forced to jettison some cargo in heavy seas. The various interests in the voyage at the time the property was jettisoned were
If $400,000 worth of iron ore was jettisoned, for how much of this amount would Inter-Ocean Transfer be responsible under general average?
Tom opened a store in a mall. His store is located between a theater and a department store. Tom counts on the theater and department store to generate walk-in business at his store. While his store has been successful, Tom knows that if either or both of the other businesses closed, his store would suffer an economic loss. What type of dependent property situation is illustrated in this scenario?
The exterior walls, the roof, and the plumbing, heating and air conditioning systems of a residential condominium can be insured through the purchase of which of the following forms?
A navigation error caused a cargo ship to run aground on a reef. The ship, valued at $1.5 million, was carrying $1.5 million in grain and $1.5 in electronic devices. The ship sustained a $150,000 physical damage loss. If this loss is a "particular average" loss, how will the loss be settled?
The business income and extra expense coverage form covers loss of business income and continuing normal operating expenses. How is business income (revenue) defined?
John is risk manager of Alpha-2-Omega Company. John wants coverage for "direct physical loss" ("open perils" coverage) under the business and personal property (BPP) coverage form. Which causes-of-loss form should he select?
If the optional replacement cost coverage provision is not selected, how are losses settled under the building and personal property (BPP) coverage form?
Which ocean marine coverage provides comprehensive liability insurance for property damage caused by the ship to piers and docks, damage to the ship's cargo, and injury to the passengers or crew?
Which of the following statements about the ISO businessowners policy is true?
Which of the following statements concerning terrorism insurance is (are) true?
CompuFix services desktop and laptop computers. The owner of CompuFix is concerned that computers that are left with the business to be repaired may be damaged or destroyed. To address this risk, CompuFix should purchase