2024 CIC COMMERCIAL MULTI -LINE EXAM
PREP WITH 200 EXAM PREP QUESTIONS AND
CORRECT DETAILED ANSWERS (100%
CORRECT ANSWERS) GRADED A
Identify and apply Covered Property, Covered Locations, and Property Not
Covered under a Bailee Policy - ANSWER-Covered Property:
Customers Property in NI CCC has to be in CCC for processing
Covered locations; -described premises -on premises of others for servicing or processing -Anywhere in covered area while in transit --Between NI premises branches --Between NI and Servicing --Between NI and Customer
Property Not Covered:
-Aircraft/watercraft -contraband -Furs -Jewelry -money + securities -no charge for services 1 / 4
-vehicles -waterborn property
Distinguish between Covered Property and Property Not Covered under the
Businessowners Coverage Form. - ANSWER-Covered:
Buildings:
Includes PP of landlord (common areas, furnished) Covers Bridges, Retaining Walls, Wharves, Docks Replacement Cost
BPP:
Includes Property of Others (in CCC) Exterior Building Glass Replacement Cost
Not Covered:
Money/Securities Fences, radios, antennas, towers, signs (detached) plants Installed computers (in vehicles etc) Electronic Data
Identify and describe the Additional Coverages, Coverage Extensions, and Limits Of
Insurance of the Businessowners Policy. - ANSWER-Additional Coverages:
Fire Department ($2.5k)
- / 4
B.I.- 12 mo ALS, 72 hr Waiting period payroll 60 days covers normal operating expenses triggered by suspension (slowdown, cessation, premises is untenable) by covered loss
Extra Expense- No waiting period, 12 mo. pays additional cost while operations are disrupted
Civil Authority- if authority shuts you down- 4 wks 72 hr waiting (BI/EE)
Money Orders & Conterfit money: $1k
Forgery or Alterations
Increased Cost of Construction
BI from dependent properties
Fire Extingushers
Electronic Data
Interruption of Computer Operations
COVERAGE EXTENSIONS
Newly acquired or construction property (30 days to tell) 3 / 4
Personal Property Off Premises ($10k in transit, no money)
Outdoor Property (2.5k plants, fence, sign FLARE Perils only)
Personal Effects Valuable Papers Accts Recivables
BPP in Temp storage units
LIMITS of insurance attached sign- $1k
Inflation Guard- AUtomatic building increase
BPP Seasonal Increase (25%)
Identify and describe the property Optional Coverages available in the BOP that
must be activated in order for coverage to apple - ANSWER-Outdoor Signs: $1k
attached, $2.5k Detached
Money & Securities: Theft, disappearance or destruction
Employee Dishonesty
- / 4