rmi 4224 fsu quizzes UPDATED ACTUAL Questions And Correct Answers
C
Terms in this set (40)
Which of the following statements concerning the The BOP is designed to provide property and liability coverage for small or less
businessowners policy (BOP) is correct? complex businesses.
Per the ISO eligibility rules, which of the following types A 30,000 square foot insurance agency.
of buildings would be eligible for coverage under a
businessowners policy (BOP)?
All of the following types of businesses are ineligible for Funeral homes.
the ISO BOP due to the severity of risk and/or special
coverage situations EXCEPT:
Which of the following statements is/are correct? Both I & II
I. The BOP provides coverage for all buildings and
structures located at the premises described in the
Declarations; that is, only the premises must be described
for any building located at the described premises to be
covered.
II. The B&PP Coverage Form only provides coverage for
buildings or structures specifically described in the
Declarations
Which of the following statements is/are correct? I only.
I. The Named Perils Endorsement (BP 10 09) to the
Businessowners Coverage Form provides the same
causes of loss coverage as the Causes of Loss - Basic
Form, plus limited off-premises transit coverage.
II. This named perils coverage form is frequently used by
businesses because it provides broad coverage at an
economical price.
The business income and extra expense coverage under 12 consecutive months limitation.
a BOP is typically subject to which one of the following
limitations?
Which of the following statements concerning a typical Both I & II.
Businessowners Coverage Form is/are correct?
I. The causes of loss are contained within the
Businessowners Coverage Form; this is in contrast to the
B&PP Coverage Form where the Causes of Loss Form is
attached to the B&PP.
II. The list of property not covered under the BOP is
shorter than the list of property not covered under the
B&PP Coverage Form.
, Which of the following statements concerning Both I & II.
differences between the BOP and CGL policy is/are true?
I. The BOP has its own set of conditions contained within
the Businessowners Coverage Form while the CGL policy
utilizes common policy conditions shared with other
coverage forms.
II. While the CGL states it provides primary coverage
(subject to a few exceptions), the BOP is excess over any
other applicable coverage.
All of the following statements concerning BOP The Hired Auto and Non-Owned Auto Liability endorsement is also available
Endorsement BP 04 04 are true EXCEPT: under a CGL coverage form.
Which of the following statements concerning the The Businessowners Liability Section is similar to the CGL Coverage Form in
Businessowners Coverage Form Section II - Liability is content, but differs in format.
correct?
Inland marine insurance evolved from which of the Marine insurance
following lines of insurance?
All of the following types of property are eligible for General business liability risks
Commercial Inland Marine coverage, EXCEPT:
Which of the following types of commercial property A large crane used by a contractor
would be considered an inland marine insurance "non-
filed" class of business property?
Which of the following statements concerning Builders I only
Risk insurance coverage is/are true?
I. Builders Risk coverage is an example of non-filed inland
marine coverage.
II. Soft costs coverage is a coverage extension included
within the Builders Risk Coverage Form.
Swanson Construction Company owns several large Contractors equipment coverage form
cranes and bulldozers it uses in its commercial
construction business. Which of the following inland
marine coverage forms would be most appropriate to
provide coverage for this equipment?
Each of the following statements concerning the ISO Covered property only includes property described in the Declarations owned by
Contractors Equipment Coverage Form are true, EXCEPT: the insured.
Each of the following statements concerning the ISO The coverage form pays up to $10,000 for loss or damage to covered property
Valuable Papers And Records Coverage Form are true, while it is away from the covered premises unless the insured selects a higher limit
EXCEPT: for this coverage extension.
C
Terms in this set (40)
Which of the following statements concerning the The BOP is designed to provide property and liability coverage for small or less
businessowners policy (BOP) is correct? complex businesses.
Per the ISO eligibility rules, which of the following types A 30,000 square foot insurance agency.
of buildings would be eligible for coverage under a
businessowners policy (BOP)?
All of the following types of businesses are ineligible for Funeral homes.
the ISO BOP due to the severity of risk and/or special
coverage situations EXCEPT:
Which of the following statements is/are correct? Both I & II
I. The BOP provides coverage for all buildings and
structures located at the premises described in the
Declarations; that is, only the premises must be described
for any building located at the described premises to be
covered.
II. The B&PP Coverage Form only provides coverage for
buildings or structures specifically described in the
Declarations
Which of the following statements is/are correct? I only.
I. The Named Perils Endorsement (BP 10 09) to the
Businessowners Coverage Form provides the same
causes of loss coverage as the Causes of Loss - Basic
Form, plus limited off-premises transit coverage.
II. This named perils coverage form is frequently used by
businesses because it provides broad coverage at an
economical price.
The business income and extra expense coverage under 12 consecutive months limitation.
a BOP is typically subject to which one of the following
limitations?
Which of the following statements concerning a typical Both I & II.
Businessowners Coverage Form is/are correct?
I. The causes of loss are contained within the
Businessowners Coverage Form; this is in contrast to the
B&PP Coverage Form where the Causes of Loss Form is
attached to the B&PP.
II. The list of property not covered under the BOP is
shorter than the list of property not covered under the
B&PP Coverage Form.
, Which of the following statements concerning Both I & II.
differences between the BOP and CGL policy is/are true?
I. The BOP has its own set of conditions contained within
the Businessowners Coverage Form while the CGL policy
utilizes common policy conditions shared with other
coverage forms.
II. While the CGL states it provides primary coverage
(subject to a few exceptions), the BOP is excess over any
other applicable coverage.
All of the following statements concerning BOP The Hired Auto and Non-Owned Auto Liability endorsement is also available
Endorsement BP 04 04 are true EXCEPT: under a CGL coverage form.
Which of the following statements concerning the The Businessowners Liability Section is similar to the CGL Coverage Form in
Businessowners Coverage Form Section II - Liability is content, but differs in format.
correct?
Inland marine insurance evolved from which of the Marine insurance
following lines of insurance?
All of the following types of property are eligible for General business liability risks
Commercial Inland Marine coverage, EXCEPT:
Which of the following types of commercial property A large crane used by a contractor
would be considered an inland marine insurance "non-
filed" class of business property?
Which of the following statements concerning Builders I only
Risk insurance coverage is/are true?
I. Builders Risk coverage is an example of non-filed inland
marine coverage.
II. Soft costs coverage is a coverage extension included
within the Builders Risk Coverage Form.
Swanson Construction Company owns several large Contractors equipment coverage form
cranes and bulldozers it uses in its commercial
construction business. Which of the following inland
marine coverage forms would be most appropriate to
provide coverage for this equipment?
Each of the following statements concerning the ISO Covered property only includes property described in the Declarations owned by
Contractors Equipment Coverage Form are true, EXCEPT: the insured.
Each of the following statements concerning the ISO The coverage form pays up to $10,000 for loss or damage to covered property
Valuable Papers And Records Coverage Form are true, while it is away from the covered premises unless the insured selects a higher limit
EXCEPT: for this coverage extension.
