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CIC COMMERCIAL CASUALTY INSTITUTE EXAM
WITH ACTUAL QUESTIONS AND CORRECT
VERIFIED ANSWERS/ALREADY GRADED A+
100% GUARANTEED TO PASS CONCEPTS(ALL
WHAT YOU NEED)
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
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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
Identify various Liability Exposures (8 total) in the CGL
Coverage Form ( Part of Learning Objective #3) -
.....ANSWER ...✔✔ 1- Premises Liability
2- Business Operations Liability
3- Products Liability
4- Completed Operations Liability
5- Contractual Liability
6- Contingent Liability
7- Personal Injury Liability
8- Advertising Liability
Premises Liability - .....ANSWER ...✔✔ Applies to:
- Owners, Landlords, Tenants
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- Arises out of the ownership, maintenance or use of the
insured's premises
ONLY applies to designated
- Premises
- Project
- Operation
Business Operations Liability - .....ANSWER ...✔✔
Arises from activities involved in the operation of an
organization, while the activity is being conducted
Products Liability - .....ANSWER ...✔✔ - Arises out of
the sale, distribution or manufacture of the product
- Coverage begins when the product has left the NI's
premises and is no longer in the NI's possession
Completed Operations Liability - .....ANSWER ...✔✔ -
Arises from activities involved in the operation of an
organization, after the activity has been concluded
- When the business operation is completed
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- Includes: work that may need service, maintenance,
correction, repair or replacement, but which is otherwise
complete, will be treated as completed
Contractual Liability - .....ANSWER ...✔✔ - Arises
from one party assuming responsibility of another party
- Liability that arises from an "Insured Contract"
- Ex: Lease Agreements, Construction Contracts, etc...
Contingent Liability - .....ANSWER ...✔✔ - Arises out
of work performed for the NI by someone else
-Ex: Can protect a NI from negligent acts of an
independent contractor
Personal Injury Liability - .....ANSWER ...✔✔ - Arising
from intentional torts (libel, slander, wrongful eviction)
- Applies to named offenses as defined by the CGL
CIC COMMERCIAL CASUALTY INSTITUTE EXAM
WITH ACTUAL QUESTIONS AND CORRECT
VERIFIED ANSWERS/ALREADY GRADED A+
100% GUARANTEED TO PASS CONCEPTS(ALL
WHAT YOU NEED)
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
,2|Page
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
Identify various Liability Exposures (8 total) in the CGL
Coverage Form ( Part of Learning Objective #3) -
.....ANSWER ...✔✔ 1- Premises Liability
2- Business Operations Liability
3- Products Liability
4- Completed Operations Liability
5- Contractual Liability
6- Contingent Liability
7- Personal Injury Liability
8- Advertising Liability
Premises Liability - .....ANSWER ...✔✔ Applies to:
- Owners, Landlords, Tenants
,3|Page
- Arises out of the ownership, maintenance or use of the
insured's premises
ONLY applies to designated
- Premises
- Project
- Operation
Business Operations Liability - .....ANSWER ...✔✔
Arises from activities involved in the operation of an
organization, while the activity is being conducted
Products Liability - .....ANSWER ...✔✔ - Arises out of
the sale, distribution or manufacture of the product
- Coverage begins when the product has left the NI's
premises and is no longer in the NI's possession
Completed Operations Liability - .....ANSWER ...✔✔ -
Arises from activities involved in the operation of an
organization, after the activity has been concluded
- When the business operation is completed
, 4|Page
- Includes: work that may need service, maintenance,
correction, repair or replacement, but which is otherwise
complete, will be treated as completed
Contractual Liability - .....ANSWER ...✔✔ - Arises
from one party assuming responsibility of another party
- Liability that arises from an "Insured Contract"
- Ex: Lease Agreements, Construction Contracts, etc...
Contingent Liability - .....ANSWER ...✔✔ - Arises out
of work performed for the NI by someone else
-Ex: Can protect a NI from negligent acts of an
independent contractor
Personal Injury Liability - .....ANSWER ...✔✔ - Arising
from intentional torts (libel, slander, wrongful eviction)
- Applies to named offenses as defined by the CGL
