COMMERCIAL CASUALTY II TEST
REVIEW QUESTIONS SOLVED
ACCURATELY
accident - CORRECT ANSWER✅✅✅An event or continuous or repeated exposure to the
same conditions resulting in bodily injury or property damage
auto - CORRECT ANSWER✅✅✅A land motor vehicle; "trailer" or semitrailer designed for
travel on public roads; or any other land vehicle that is subject to a compulsory or financial
responsibility law or other motor vehicle insurance law where it is licensed or principally
garaged. An auto does not include "mobile equipment."
bodily injury - CORRECT ANSWER✅✅✅Injury, sickness, or death sustained by a person
concurrency - CORRECT ANSWER✅✅✅When the dates of an Excess/Umbrella policy and
an underlying policy or policies are the same
conditions - CORRECT ANSWER✅✅✅The rules of a contract for an insured and insurance
company
coverage territory - CORRECT ANSWER✅✅✅The geographic area where insurance
applies
Declarations - CORRECT ANSWER✅✅✅The part of a policy that shows the who, what,
when, and where
deductible - CORRECT ANSWER✅✅✅The amount the insurance company reduces its
payment for a loss; it is shown in the Declarations for each coverage
depreciation - CORRECT ANSWER✅✅✅The amount of value an auto has lost due to its
age, mileage, or wear and tear
, diminution - CORRECT ANSWER✅✅✅The perceived loss in market or resale value
resulting from a direct and accidental "loss"
duty to defend - CORRECT ANSWER✅✅✅An insurance company's assumed obligation to
defend an insured for any covered claim
employee - CORRECT ANSWER✅✅✅Includes a "leased worker;" does not include a
"temporary worker"
endorsements - CORRECT ANSWER✅✅✅Additions to a policy that amend the coverage
provided in the coverage form
exclusions - CORRECT ANSWER✅✅✅Provisions that specify situations where coverage
does not apply
experience modifier - CORRECT ANSWER✅✅✅An indicator of an employer's claims
experience; a factor used in premium computation
hired autos - CORRECT ANSWER✅✅✅Autos that a business organization or sole
proprietor leases, hires, rents, or borrows; does not include autos belonging to employees or
partners or any of their family members
indemnify - CORRECT ANSWER✅✅✅when the insured pays for the covered claim and
then asks for reimbursement from the insurance company
Information Page - CORRECT ANSWER✅✅✅A page of declaratory information found in
Workers Compensation policies. The page outlines the employer being insured, the policy period
(when the coverage begins and ends), and the coverage provided by the policy.
REVIEW QUESTIONS SOLVED
ACCURATELY
accident - CORRECT ANSWER✅✅✅An event or continuous or repeated exposure to the
same conditions resulting in bodily injury or property damage
auto - CORRECT ANSWER✅✅✅A land motor vehicle; "trailer" or semitrailer designed for
travel on public roads; or any other land vehicle that is subject to a compulsory or financial
responsibility law or other motor vehicle insurance law where it is licensed or principally
garaged. An auto does not include "mobile equipment."
bodily injury - CORRECT ANSWER✅✅✅Injury, sickness, or death sustained by a person
concurrency - CORRECT ANSWER✅✅✅When the dates of an Excess/Umbrella policy and
an underlying policy or policies are the same
conditions - CORRECT ANSWER✅✅✅The rules of a contract for an insured and insurance
company
coverage territory - CORRECT ANSWER✅✅✅The geographic area where insurance
applies
Declarations - CORRECT ANSWER✅✅✅The part of a policy that shows the who, what,
when, and where
deductible - CORRECT ANSWER✅✅✅The amount the insurance company reduces its
payment for a loss; it is shown in the Declarations for each coverage
depreciation - CORRECT ANSWER✅✅✅The amount of value an auto has lost due to its
age, mileage, or wear and tear
, diminution - CORRECT ANSWER✅✅✅The perceived loss in market or resale value
resulting from a direct and accidental "loss"
duty to defend - CORRECT ANSWER✅✅✅An insurance company's assumed obligation to
defend an insured for any covered claim
employee - CORRECT ANSWER✅✅✅Includes a "leased worker;" does not include a
"temporary worker"
endorsements - CORRECT ANSWER✅✅✅Additions to a policy that amend the coverage
provided in the coverage form
exclusions - CORRECT ANSWER✅✅✅Provisions that specify situations where coverage
does not apply
experience modifier - CORRECT ANSWER✅✅✅An indicator of an employer's claims
experience; a factor used in premium computation
hired autos - CORRECT ANSWER✅✅✅Autos that a business organization or sole
proprietor leases, hires, rents, or borrows; does not include autos belonging to employees or
partners or any of their family members
indemnify - CORRECT ANSWER✅✅✅when the insured pays for the covered claim and
then asks for reimbursement from the insurance company
Information Page - CORRECT ANSWER✅✅✅A page of declaratory information found in
Workers Compensation policies. The page outlines the employer being insured, the policy period
(when the coverage begins and ends), and the coverage provided by the policy.
