CISR PERSONAL LINES MISCELLANEOUS EXAM ACTUAL EXAM 100 QUESTIONS AND CORRECT DETAILED
ANSWERS WITH RATIONALES
An umbrella policy covers:
a. Outside events (carnivals, fairs, etc.)
b. Excess liability coverage beyond the underlying limits on a homeowners policy and auto policy
c. Excess liability and property damage to the insured
d. Excess liability beyond the underlying limits on an auto policy only - (Answer)b. Excess liability
coverage beyond the underlying limits on a homeowners policy and auto policy
What is true about an umbrella policy.
a. Provides broader coverage than the underlying policy
b. Only covers what is covered by an underlying policy
c. Will only provide up to 1 million dollars of coverage
d. Umbrellas are considered to be very expensive - (Answer)a. Provides broader coverage than the
underlying policy
A self-insured retention acts as a deductible and applies to claims covered by an umbrella policy, but
excluded by an underlying policy in a personal umbrella. The S.I.R. ranges from $250 to:
a. $500
b. $1,500
c. $750
d. $1,000 - (Answer)d. $1,000
What is true about umbrella policies:
ANSWERS WITH RATIONALES
An umbrella policy covers:
a. Outside events (carnivals, fairs, etc.)
b. Excess liability coverage beyond the underlying limits on a homeowners policy and auto policy
c. Excess liability and property damage to the insured
d. Excess liability beyond the underlying limits on an auto policy only - (Answer)b. Excess liability
coverage beyond the underlying limits on a homeowners policy and auto policy
What is true about an umbrella policy.
a. Provides broader coverage than the underlying policy
b. Only covers what is covered by an underlying policy
c. Will only provide up to 1 million dollars of coverage
d. Umbrellas are considered to be very expensive - (Answer)a. Provides broader coverage than the
underlying policy
A self-insured retention acts as a deductible and applies to claims covered by an umbrella policy, but
excluded by an underlying policy in a personal umbrella. The S.I.R. ranges from $250 to:
a. $500
b. $1,500
c. $750
d. $1,000 - (Answer)d. $1,000
What is true about umbrella policies:
