CISR - Personal Lines Miscellaneous Questions with 100% Correct Answers

CISR - Personal Lines Miscellaneous Questions with 100% Correct Answers What is a trade? —ANS: Skilled manual or mechanical work. Examples: Painter, Carpenter, Electrician, etc. What is a profession? —ANS: A vocation requiring advanced education and training. Examples: Physician, Dentist, Attorney, Veterinarian, etc. What is an occupation? —ANS: An activity or pursuit in which a person is engaged; a person's usual or principal work or business. What are the two parts of the definition of "Business"? —ANS: Part 1 - A business includes a trade, profession, or occupation engaged in on a full-time, part-time, or occasional basis. Part 2 - A business is any activity that is engaged in for money or other compensation unless it is one of four cited activities. What are the four cited activities that can void the definition of business? —ANS: 1 - One or more activities for which no "insured" received more than $2,000 in the 12 months prior to the beginning of the policy period. 2 - Volunteer activities where no compensation is received other than