COMMERCIAL CASUALTY II – CISR ACTUAL EXAM
QUESTIONS AND VERIFIED SOLUTIONS
100% PASS
Describe what coverage triggers for Symbol 7? - ANSWER Autos Only Liability,
Physical Damage, medical Payments, Personal Injury Protection, Uninsured
Motorists - for specifically described autos only
*triggers coverage for autos scheduled in decs
*liability for trailers the name insured does not own while attached to schedule
auto
Describe what coverage triggers for Symbol 8? - ANSWER Liability, Physical
Damage - for hired autos
*Excludes autos those from employees, partners of LLP, members of LLC or
members of their household
Describe what coverage triggers for Symbol 9? - ANSWER liability for non-owned
autos
*for autos the name insured DOES NOT own, lease, hire, rent or borrow and used
in business
*owned by insured employees, partners, members, and member of household
used in business or personal affairs
,Describe what coverage triggers for Symbol 19? - ANSWER liability coverage for
autos that would qualify as mobile equipment
*Mobile Equipment Subject To Compulsory Or Financial Responsibility Or Other
Motor Vehicle Insurance Law Only
What endorsement would be used to customize coverage on those vehicles fairly
new? - ANSWER Symbol 10
What symbols are used for automatic coverage? - ANSWER Symbols 1, 2-6 or 19
*Autos you acquire after the policy begins
What symbols are used for schedule coverage? - ANSWER Symbol 7
*Specifically scheduled in item 3 of BAP dec, must tell insurance company within
30 days after acquired
List reason insured can use certain trailers, mobile equipment and temporary
substitute autos if because of - ANSWER breakdown
repair
servicing
loss or
,destruction
List example of an automatic symbol coverage - ANSWER Name insured has
symbol 2, used to trigger liability, comp and collision. If name insured acquires an
additional auto that has liability, comp and collision under the policy for the
remainder of policy period, insured doesn't need to report newly acquired auto.
premium will be picked up at audit
List example that doesn't qualify automatic symbol coverage - ANSWER name
insured has symbol 3. if name insured acquires a panel truck there is no automatic
coverage because the panel truck is not a passenger auto
What 2 conditions must be met for Symbol 7 to apply? - ANSWER 1.
All "autos" the named insured owns must be insured by the insurance company
for that coverage;
or it replaces an "auto" the named insured previously owne
d that has coverage
and
2.
This named insured must tell the insurance company within 30 days after
acquiring the "auto" that
the named insured wants that coverage.
*If both are met the newly acquired auto is additional unit, will automatically have
the coverage that all owned autos have.
, List an example of symbol 7 limited coverage for new auto - ANSWER Name
insured owns 9 autos with symbol 7. All 9 have liability, 8 have comp, one has
specified cause of loss. 6 have collision. if the name insured acquires 10th auto,
will only have automatic liability coverage, because all 9 have at least liability.
*will only extend automatically for 30 days
List an example of symbol 7 limited coverage for replacement auto - ANSWER
name insured has 2 autos, both have symbol 7. 1st vehicle has only liability. 2nd
vehicle has liab. and collision. if name insured acquires a replacement or 1st
vehicle, new auto only has liability for max. of 30 days
*Must inform insurer within 30 days after purchase
*Physical damage does not apply until notified that physical damage is wanted
What happens for Symbol 7 if late reported to insurance company for new auto?
so if acquired on Mar 1st, and doesn't tell insurance company until Aug 15? -
ANSWER No coverage is in place for the newly acquired auto. Coverage
requested will now begin on Aug 15.
What 3 types of insureds are afforded coverage in auto form? - ANSWER 1. "You"
2. Permissive Users of Covered "Autos"
3. Others Who Have Vicarious Liability
QUESTIONS AND VERIFIED SOLUTIONS
100% PASS
Describe what coverage triggers for Symbol 7? - ANSWER Autos Only Liability,
Physical Damage, medical Payments, Personal Injury Protection, Uninsured
Motorists - for specifically described autos only
*triggers coverage for autos scheduled in decs
*liability for trailers the name insured does not own while attached to schedule
auto
Describe what coverage triggers for Symbol 8? - ANSWER Liability, Physical
Damage - for hired autos
*Excludes autos those from employees, partners of LLP, members of LLC or
members of their household
Describe what coverage triggers for Symbol 9? - ANSWER liability for non-owned
autos
*for autos the name insured DOES NOT own, lease, hire, rent or borrow and used
in business
*owned by insured employees, partners, members, and member of household
used in business or personal affairs
,Describe what coverage triggers for Symbol 19? - ANSWER liability coverage for
autos that would qualify as mobile equipment
*Mobile Equipment Subject To Compulsory Or Financial Responsibility Or Other
Motor Vehicle Insurance Law Only
What endorsement would be used to customize coverage on those vehicles fairly
new? - ANSWER Symbol 10
What symbols are used for automatic coverage? - ANSWER Symbols 1, 2-6 or 19
*Autos you acquire after the policy begins
What symbols are used for schedule coverage? - ANSWER Symbol 7
*Specifically scheduled in item 3 of BAP dec, must tell insurance company within
30 days after acquired
List reason insured can use certain trailers, mobile equipment and temporary
substitute autos if because of - ANSWER breakdown
repair
servicing
loss or
,destruction
List example of an automatic symbol coverage - ANSWER Name insured has
symbol 2, used to trigger liability, comp and collision. If name insured acquires an
additional auto that has liability, comp and collision under the policy for the
remainder of policy period, insured doesn't need to report newly acquired auto.
premium will be picked up at audit
List example that doesn't qualify automatic symbol coverage - ANSWER name
insured has symbol 3. if name insured acquires a panel truck there is no automatic
coverage because the panel truck is not a passenger auto
What 2 conditions must be met for Symbol 7 to apply? - ANSWER 1.
All "autos" the named insured owns must be insured by the insurance company
for that coverage;
or it replaces an "auto" the named insured previously owne
d that has coverage
and
2.
This named insured must tell the insurance company within 30 days after
acquiring the "auto" that
the named insured wants that coverage.
*If both are met the newly acquired auto is additional unit, will automatically have
the coverage that all owned autos have.
, List an example of symbol 7 limited coverage for new auto - ANSWER Name
insured owns 9 autos with symbol 7. All 9 have liability, 8 have comp, one has
specified cause of loss. 6 have collision. if the name insured acquires 10th auto,
will only have automatic liability coverage, because all 9 have at least liability.
*will only extend automatically for 30 days
List an example of symbol 7 limited coverage for replacement auto - ANSWER
name insured has 2 autos, both have symbol 7. 1st vehicle has only liability. 2nd
vehicle has liab. and collision. if name insured acquires a replacement or 1st
vehicle, new auto only has liability for max. of 30 days
*Must inform insurer within 30 days after purchase
*Physical damage does not apply until notified that physical damage is wanted
What happens for Symbol 7 if late reported to insurance company for new auto?
so if acquired on Mar 1st, and doesn't tell insurance company until Aug 15? -
ANSWER No coverage is in place for the newly acquired auto. Coverage
requested will now begin on Aug 15.
What 3 types of insureds are afforded coverage in auto form? - ANSWER 1. "You"
2. Permissive Users of Covered "Autos"
3. Others Who Have Vicarious Liability
