CIC COMMERCIAL MULTILINE TESTS EXAM
2026 COMPREHENSIVE QUESTIONS AND FULL
SOLUTION
◉ Describe "money" "securities", other property., "theft" and
"employee" as found in the Commercial Crime Coverage Form.
Answer: money- coins, cash, has a face value; traveler's checks and
money orders; deposits in insured's account at financial institution
securities- Tokens, Tickets, revenue, other stamps;
Other property- tangible property, No Electronic Data
Theft- unlawful taking of property to the deprivation of the insured.
Employee:
-Current or past (30 day window) - MUST be compensated AND you
have direct control over services performed for you
-Temp/leased
-Former Employee who is now a consultant
-intern
-Merger or Conslidated employees
,-Managers, directors, trustees
NOT EMPLOYEES: AGENTS, BROKERS, FACTORS, CONSIGNEES,
INDEPENDENT CONTRACTORS
◉ Endorsements used to modify the definition of employee. Answer:
1. Volunteer Workers as employees- meant for Gov't workers or
nonprofit groups when working as fund solicitors during franchise
campaigns
2. employee theft- named employees have more coverage
3. exclude designated person or classes of persons as employees
4. include designated agents as employees
5. include computer software contractors as employees
◉ exclusion and endorsements applicable to all 7 insuring
agreements for crime. Answer: 1. theft or dishonest acts committed
by you, your partners or members
- eras plan coverage amendments (protects employees benefits)
- include partners as employees
,- include members of a LLC as employees
2. acts committed by your employees learned of by you prior to the
policy period
3. acts committed by your employees, managers directors, trustees,
or reps (bc already covered in employee theft)
4. confidential or personal information
- erisa plan coverage amendments
5. data security breach
6. indirect loss (income you "would" have received
7. legal fees, costs, expenses
8. virtual currency
- include virtual currency as money
◉ policy exclusions pertaining to insuring agreement A.1. Employee
Theft. Answer: -inventory shortages discovered by inventory or
profit loss computation
, - trading (can add trading coverage)
- warehouse receipts (can add warehouse receipts coverage)
- erisa plan. coverage amendments (deletes trading and warehouse
receipts exclusion in relation to employee benefits)
◉ insuring agreement for A.2 forgery or alteration. Answer: - pay for
loss resulting from forgery or alteration of OUTGOING checks, drafts,
or promissory notes
◉ Describe and apply the coverages, exclusions, limitations, and
definitions pertaining to Insuring Agreement A.3.- Inside the
Premises- Theft of Money and Securities. Answer: Coverages:
-Theft on premises or financial premise
-Disappears OR Destruction
-damage to premieses
-damage to locked safe, vault, cash register
Has to be inside the described and occupied premises of the Named
Insured
Limitations-
Does not extend past the door of the premises (no 100ft rule)
2026 COMPREHENSIVE QUESTIONS AND FULL
SOLUTION
◉ Describe "money" "securities", other property., "theft" and
"employee" as found in the Commercial Crime Coverage Form.
Answer: money- coins, cash, has a face value; traveler's checks and
money orders; deposits in insured's account at financial institution
securities- Tokens, Tickets, revenue, other stamps;
Other property- tangible property, No Electronic Data
Theft- unlawful taking of property to the deprivation of the insured.
Employee:
-Current or past (30 day window) - MUST be compensated AND you
have direct control over services performed for you
-Temp/leased
-Former Employee who is now a consultant
-intern
-Merger or Conslidated employees
,-Managers, directors, trustees
NOT EMPLOYEES: AGENTS, BROKERS, FACTORS, CONSIGNEES,
INDEPENDENT CONTRACTORS
◉ Endorsements used to modify the definition of employee. Answer:
1. Volunteer Workers as employees- meant for Gov't workers or
nonprofit groups when working as fund solicitors during franchise
campaigns
2. employee theft- named employees have more coverage
3. exclude designated person or classes of persons as employees
4. include designated agents as employees
5. include computer software contractors as employees
◉ exclusion and endorsements applicable to all 7 insuring
agreements for crime. Answer: 1. theft or dishonest acts committed
by you, your partners or members
- eras plan coverage amendments (protects employees benefits)
- include partners as employees
,- include members of a LLC as employees
2. acts committed by your employees learned of by you prior to the
policy period
3. acts committed by your employees, managers directors, trustees,
or reps (bc already covered in employee theft)
4. confidential or personal information
- erisa plan coverage amendments
5. data security breach
6. indirect loss (income you "would" have received
7. legal fees, costs, expenses
8. virtual currency
- include virtual currency as money
◉ policy exclusions pertaining to insuring agreement A.1. Employee
Theft. Answer: -inventory shortages discovered by inventory or
profit loss computation
, - trading (can add trading coverage)
- warehouse receipts (can add warehouse receipts coverage)
- erisa plan. coverage amendments (deletes trading and warehouse
receipts exclusion in relation to employee benefits)
◉ insuring agreement for A.2 forgery or alteration. Answer: - pay for
loss resulting from forgery or alteration of OUTGOING checks, drafts,
or promissory notes
◉ Describe and apply the coverages, exclusions, limitations, and
definitions pertaining to Insuring Agreement A.3.- Inside the
Premises- Theft of Money and Securities. Answer: Coverages:
-Theft on premises or financial premise
-Disappears OR Destruction
-damage to premieses
-damage to locked safe, vault, cash register
Has to be inside the described and occupied premises of the Named
Insured
Limitations-
Does not extend past the door of the premises (no 100ft rule)
