CIC COMMERCIAL CASUALTY INSTITUTE EXAM
NEWEST ACTUAL EXAM AND PRACTICE EXAM
COMPLETE 220 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
Identify the Specific Rights & Responsibilities of the First Named Insured
(Objective #1) - answer-1- Cancel Policy
2- Receive Notice of Cancellation
3- Make Changes to Policy (with Insurer Consent)
4- Payment of Premiums
5- Payee for Returned Premium
Compare and Contrast the Occurrence Form with the Claims Made Form, as to
what activates coverage (Learning Objective #2) - answer-Occurrence Form:
- BI/PD must occur during the policy period
- P/Adv committed during policy period
- The policy in force when the injury or damage takes place is the one that
responds
,Claims Made Form:
- BI/PD must occur on or after the Retro Date shown in Declarations
- P/Adv must have been committed on or after the Retro Date
- AND, Claim must be made during the policy period or Extended Reporting
Period
- NO COVERAGE if before the Retro Date
- 3rd Party action over the above
- BI or PAI arising out of providing/failure to provide health services
- Property Damage to property of the NI, any employees, volunteers, partners,
memebers
How does the CGL address coverage for Newly Formed/ Acquired
Organizations? - answer-- Qualifies as a NI if no other similar insurance is
available
- Covered until the end of the policy or 90th day (whichever is earlier)
- Excludes prior BI or PD and PAI
, - Does NOT include newly formed/acquired partnerships, JVs or LLCs
True or False:
Spouses of any type of NI are automatically considered Insureds - answer-False
Only true for Individuals as insureds, partnerships or joint ventures
Yes or No:
A partnership is the only named insured listed on a CGL policy. A partner of a
partnerships buys a building in his own name, during the policy period. A BI
loss occurs at that building and the partner is sued for damages.
Does the Partner have insured status under the Partnership's CGL? - answer-
NO
Yes or No:
A nurse at a rehab center administers the wrong medication to a patient,
resulting in injury. A suit is filed against the nurse for damages.
Does the nurse have insured status under the rehab center's CGL? - answer-NO
No coverage for providing or failure to provide health services
NEWEST ACTUAL EXAM AND PRACTICE EXAM
COMPLETE 220 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
Identify the Specific Rights & Responsibilities of the First Named Insured
(Objective #1) - answer-1- Cancel Policy
2- Receive Notice of Cancellation
3- Make Changes to Policy (with Insurer Consent)
4- Payment of Premiums
5- Payee for Returned Premium
Compare and Contrast the Occurrence Form with the Claims Made Form, as to
what activates coverage (Learning Objective #2) - answer-Occurrence Form:
- BI/PD must occur during the policy period
- P/Adv committed during policy period
- The policy in force when the injury or damage takes place is the one that
responds
,Claims Made Form:
- BI/PD must occur on or after the Retro Date shown in Declarations
- P/Adv must have been committed on or after the Retro Date
- AND, Claim must be made during the policy period or Extended Reporting
Period
- NO COVERAGE if before the Retro Date
- 3rd Party action over the above
- BI or PAI arising out of providing/failure to provide health services
- Property Damage to property of the NI, any employees, volunteers, partners,
memebers
How does the CGL address coverage for Newly Formed/ Acquired
Organizations? - answer-- Qualifies as a NI if no other similar insurance is
available
- Covered until the end of the policy or 90th day (whichever is earlier)
- Excludes prior BI or PD and PAI
, - Does NOT include newly formed/acquired partnerships, JVs or LLCs
True or False:
Spouses of any type of NI are automatically considered Insureds - answer-False
Only true for Individuals as insureds, partnerships or joint ventures
Yes or No:
A partnership is the only named insured listed on a CGL policy. A partner of a
partnerships buys a building in his own name, during the policy period. A BI
loss occurs at that building and the partner is sued for damages.
Does the Partner have insured status under the Partnership's CGL? - answer-
NO
Yes or No:
A nurse at a rehab center administers the wrong medication to a patient,
resulting in injury. A suit is filed against the nurse for damages.
Does the nurse have insured status under the rehab center's CGL? - answer-NO
No coverage for providing or failure to provide health services
