CIC COMMERCIAL MULTI-LINE EXAM 2025/2026
QUESTIONS WITH ANSWERS GRADED A+
✔✔Describe the interests covered under a Bailee Coverage Form - ✔✔Interests-
NI on policy
Bailee- their responsibility for the value of goods of the bailor in their CCC- Investment,
time and materials invested
Bailor- may have their own coverage on goods bailor policy will contain provision that
prevents protection from any bailee
✔✔Identify and apply Property Covered and Property Not Covered by this AAIS
Builders Risk Coverage Form - ✔✔Property Covered:
Building/ Structure
Materials to be permanetly installed
backfilling, foundation, grading
scaffolding temp. fencing + temp structures
Property Not Covered:
Contraband
Land
-not a permanent part of structure
roadways + walkways w/in 1000 ft
exisiting property being renovated
landscaping materials
waterborn property
aircraft, vehicles, watercraft
✔✔List the events that will cause coverage to cease in a Builders Risk Policy - ✔✔-
Policy cancellation or expiration
-Building put to it's intended use
-abandoned with no plans to finish
-accepted by purchaser
-90 days after completion
-when insurable interest ceases (you've been paid!)
✔✔State the Purpose of coverage for "soft costs" and provide examples of covered
expenses. - ✔✔Soft Costs covers the financial loss resulting from a delay in the
completion due to covered loss
Examples (result in no added value to building)
, -Legal or Accounting Fees
-Financing (interest building on borrowed money)
-Advertising/Promotion Expenses
-Lease administrations- (Re-nego leases)
-Design Fees (re-draw plans)
-General Admin fee (add'l security costs)
-Lease expenses- Extend lease for contract equip
-Permit Fees
-Additional Insurance Premiums
✔✔Identify and apply Property Covered, Covered Locations and Property Not Covered
in this AAIS Installation Floater - ✔✔Property Covered:
NI (your) materials, supplies, fixtures, machinery or equipment
-Materials, Equipment, property in your CCC that will become a permanent part of
completed installed project
Covered Location:
-Scheduled location
-temporary storage location away from jobsite
-in transit
Property Not Covered:
-Airborne property
-building, structures, or land
-contraband
-trees + plants
-waterborne property
✔✔List the Events that will cause coverage to cease in this AAIS Installation Floater -
✔✔-Policy cancellation or expiration
-Building put to it's intended use (with exception of other subs. using it)
-abandoned with no plans to finish
-accepted by purchaser
-90 days after completion
-when insurable interest ceases (you've been paid!)
✔✔Indentify and apply Property Covered and Property Not Covered by this AAIS
Contractors Equipment Floater - ✔✔Property Covered:
-Contractors Equipment
-Contractors Equipment in you CCC
-Scheduled Equipment
Equipment = machinery tools of mobile nature that you use in installation, erection or
repair
QUESTIONS WITH ANSWERS GRADED A+
✔✔Describe the interests covered under a Bailee Coverage Form - ✔✔Interests-
NI on policy
Bailee- their responsibility for the value of goods of the bailor in their CCC- Investment,
time and materials invested
Bailor- may have their own coverage on goods bailor policy will contain provision that
prevents protection from any bailee
✔✔Identify and apply Property Covered and Property Not Covered by this AAIS
Builders Risk Coverage Form - ✔✔Property Covered:
Building/ Structure
Materials to be permanetly installed
backfilling, foundation, grading
scaffolding temp. fencing + temp structures
Property Not Covered:
Contraband
Land
-not a permanent part of structure
roadways + walkways w/in 1000 ft
exisiting property being renovated
landscaping materials
waterborn property
aircraft, vehicles, watercraft
✔✔List the events that will cause coverage to cease in a Builders Risk Policy - ✔✔-
Policy cancellation or expiration
-Building put to it's intended use
-abandoned with no plans to finish
-accepted by purchaser
-90 days after completion
-when insurable interest ceases (you've been paid!)
✔✔State the Purpose of coverage for "soft costs" and provide examples of covered
expenses. - ✔✔Soft Costs covers the financial loss resulting from a delay in the
completion due to covered loss
Examples (result in no added value to building)
, -Legal or Accounting Fees
-Financing (interest building on borrowed money)
-Advertising/Promotion Expenses
-Lease administrations- (Re-nego leases)
-Design Fees (re-draw plans)
-General Admin fee (add'l security costs)
-Lease expenses- Extend lease for contract equip
-Permit Fees
-Additional Insurance Premiums
✔✔Identify and apply Property Covered, Covered Locations and Property Not Covered
in this AAIS Installation Floater - ✔✔Property Covered:
NI (your) materials, supplies, fixtures, machinery or equipment
-Materials, Equipment, property in your CCC that will become a permanent part of
completed installed project
Covered Location:
-Scheduled location
-temporary storage location away from jobsite
-in transit
Property Not Covered:
-Airborne property
-building, structures, or land
-contraband
-trees + plants
-waterborne property
✔✔List the Events that will cause coverage to cease in this AAIS Installation Floater -
✔✔-Policy cancellation or expiration
-Building put to it's intended use (with exception of other subs. using it)
-abandoned with no plans to finish
-accepted by purchaser
-90 days after completion
-when insurable interest ceases (you've been paid!)
✔✔Indentify and apply Property Covered and Property Not Covered by this AAIS
Contractors Equipment Floater - ✔✔Property Covered:
-Contractors Equipment
-Contractors Equipment in you CCC
-Scheduled Equipment
Equipment = machinery tools of mobile nature that you use in installation, erection or
repair
