QUESTIONS AND CORRECT ANSWERS
What party to a fidelity bond is protected by the bond? - Correct answers✔Obligee
Which of the following is true regarding commercial umbrella insurance policies? - Correct
answers✔They are written on an excess basis
The California Insurance Code (CIC) consists of: - Correct answers✔statutes written and passed
by the state legislature and signed into law by the governor
Which of the following would NOT be eligible for coverage under a dwelling policy: - Correct
answers✔Building with up to 6 units
The discovery period on a commercial crime policy is: - Correct answers✔within one year after
the policy period ends
What is covered by a DP-2 that is NOT covered by DP-1? - Correct answers✔Vandalism
Which of the following statements regarding a surplus lines broker is NOT TRUE ? - Correct
answers✔A Surplus lines broker can bind risk with non-admitted insurers.
A supplemental extended reporting period extends coverage: - Correct answers✔indefinitely
The Boiler and Machinery limit of insurance is written as: - Correct answers✔A single limit of
insurance per accident