AFSB 153 - Assignment 8 Practice Exam
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Students also studied
1: Understanding Legal Fundamenta... RMIN 4300 - CH 8 Insurance Law RMI 210
9 terms 74 terms 103 terms 14 terms
dfaust22 Preview ackharrison Preview rausastephen Preview chlo
Policies for the crime loss exposure for financial Employee dishonesty, a key coverage, was traditionally called a "fidelity bond."
institutions are called "bonds" because 3 multiple choice options
James is in the process of forming his own brokerage Financial Institution Bond.
company which will include several employees. James 3 multiple choice options
will be best protected by purchasing which one of the
following to cover the crime loss exposures of his
company?
Which one of the following is a policy that covers the Financial institution bond
crime loss exposures of financial institutions such as 3 multiple choice options
banks, savings and loan institutions, and insurance
companies?
Which one of the following is one of the seven insuring Theft committed by an employee
agreements of the Commercial Crime Coverage Form? 3 multiple choice options
Which one of the following is a type of covered property Securities
under employee theft coverage? 3 multiple choice options
Which one of the following statements is correct with It covers damage to the insured's premises resulting from a covered cause of loss.
respect to the Inside the Premises—Robbery or Safe 3 multiple choice options
Burglary of Other Property coverage of an ISO
Commercial Crime Form?
All of the following are included in the Commercial Crime An accident
Coverage Form's definition of occurrence, EXCEPT:
3 multiple choice options
, A small retail store, which carries a $20,000 limit for The insurer should pay $5,000, the special limit for this type of property under
Robbery of Safe Burglary of Other Property under an ISO Inside the Premises—Robbery or Safe Burglary of Other Property.
Commercial Crime Coverage Form, discovered its
3 multiple choice options
building window was damaged and the safe door was
missing on Monday morning when an employee arrived
at work. The storeowner immediately reported this
incident to its insurance carrier. The theft consisted of
precious metal gemstones that totaled $19,000 in value.
How much should the retail store's insurer pay for this
loss?
An independent contractor, while working at the insured's The insurer should pay $50,000, which is within the $100,000 limit of liability.
premises, gained access to a company computer and 3 multiple choice options
diverted a $50,000 shipment of platinum from the
insured's premises to another address unauthorized by
the insured. The platinum importer is demanding payment
for the shipment it delivered. The insured carries a
$100,000 computer and funds transfer fraud limit of
liability under the ISO Commercial Crime Coverage Form.
How much should the insurer pay for this loss?
The exclusion for loss due to Acts Committed by You, General exclusion applying to all crime insuring agreements.
Your Partners or Your Members in the ISO Commercial 3 multiple choice options
Crime Coverage Form would be considered a(n)
Under the Loss Sustained During Prior Insurance Not It would be nearly impossible to persuade an insured to switch to a new insurer.
Issued by Us or Any Affiliate condition of the ISO 3 multiple choice options
Commercial Crime Coverage Form written on a loss
sustained basis, if certain requirements are met, the
insurer agrees to pay a loss that occurred during the prior
policy period of another insurer. Which one of the
following situations is likely to exist if such a condition
were not available?
Which one of the following is an example of the Business income loss
exclusion for Indirect Loss in the ISO Commercial Crime 3 multiple choice options
Coverage Form?
Carl worked for a small company that is covered under a Advise that insurance for Carl was cancelled due to the prior theft.
crime policy with employee theft coverage. Carl was 3 multiple choice options
caught earlier in the year stealing petty cash. After
making restitution and promising never to steal again, he
was allowed to continue working for the company. Carl
has now again stolen petty cash and has left the area. The
second employee theft has been reported to the
company's insurer. The insurer will likely
Various interests are insured in the ISO Commercial Crime Policy coverage will be extended automatically.
Coverage Form. Which one of the following statements
3 multiple choice options
describes what happens if, during the policy period, the
insured adds any premises or employees, other than by
consolidation, merger, or acquisition?
Save
Students also studied
1: Understanding Legal Fundamenta... RMIN 4300 - CH 8 Insurance Law RMI 210
9 terms 74 terms 103 terms 14 terms
dfaust22 Preview ackharrison Preview rausastephen Preview chlo
Policies for the crime loss exposure for financial Employee dishonesty, a key coverage, was traditionally called a "fidelity bond."
institutions are called "bonds" because 3 multiple choice options
James is in the process of forming his own brokerage Financial Institution Bond.
company which will include several employees. James 3 multiple choice options
will be best protected by purchasing which one of the
following to cover the crime loss exposures of his
company?
Which one of the following is a policy that covers the Financial institution bond
crime loss exposures of financial institutions such as 3 multiple choice options
banks, savings and loan institutions, and insurance
companies?
Which one of the following is one of the seven insuring Theft committed by an employee
agreements of the Commercial Crime Coverage Form? 3 multiple choice options
Which one of the following is a type of covered property Securities
under employee theft coverage? 3 multiple choice options
Which one of the following statements is correct with It covers damage to the insured's premises resulting from a covered cause of loss.
respect to the Inside the Premises—Robbery or Safe 3 multiple choice options
Burglary of Other Property coverage of an ISO
Commercial Crime Form?
All of the following are included in the Commercial Crime An accident
Coverage Form's definition of occurrence, EXCEPT:
3 multiple choice options
, A small retail store, which carries a $20,000 limit for The insurer should pay $5,000, the special limit for this type of property under
Robbery of Safe Burglary of Other Property under an ISO Inside the Premises—Robbery or Safe Burglary of Other Property.
Commercial Crime Coverage Form, discovered its
3 multiple choice options
building window was damaged and the safe door was
missing on Monday morning when an employee arrived
at work. The storeowner immediately reported this
incident to its insurance carrier. The theft consisted of
precious metal gemstones that totaled $19,000 in value.
How much should the retail store's insurer pay for this
loss?
An independent contractor, while working at the insured's The insurer should pay $50,000, which is within the $100,000 limit of liability.
premises, gained access to a company computer and 3 multiple choice options
diverted a $50,000 shipment of platinum from the
insured's premises to another address unauthorized by
the insured. The platinum importer is demanding payment
for the shipment it delivered. The insured carries a
$100,000 computer and funds transfer fraud limit of
liability under the ISO Commercial Crime Coverage Form.
How much should the insurer pay for this loss?
The exclusion for loss due to Acts Committed by You, General exclusion applying to all crime insuring agreements.
Your Partners or Your Members in the ISO Commercial 3 multiple choice options
Crime Coverage Form would be considered a(n)
Under the Loss Sustained During Prior Insurance Not It would be nearly impossible to persuade an insured to switch to a new insurer.
Issued by Us or Any Affiliate condition of the ISO 3 multiple choice options
Commercial Crime Coverage Form written on a loss
sustained basis, if certain requirements are met, the
insurer agrees to pay a loss that occurred during the prior
policy period of another insurer. Which one of the
following situations is likely to exist if such a condition
were not available?
Which one of the following is an example of the Business income loss
exclusion for Indirect Loss in the ISO Commercial Crime 3 multiple choice options
Coverage Form?
Carl worked for a small company that is covered under a Advise that insurance for Carl was cancelled due to the prior theft.
crime policy with employee theft coverage. Carl was 3 multiple choice options
caught earlier in the year stealing petty cash. After
making restitution and promising never to steal again, he
was allowed to continue working for the company. Carl
has now again stolen petty cash and has left the area. The
second employee theft has been reported to the
company's insurer. The insurer will likely
Various interests are insured in the ISO Commercial Crime Policy coverage will be extended automatically.
Coverage Form. Which one of the following statements
3 multiple choice options
describes what happens if, during the policy period, the
insured adds any premises or employees, other than by
consolidation, merger, or acquisition?
