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Chapter 1 Quiz
This quiz will test your knowledge on the material presented. Some questions may also test your knowledge on material not yet presented.
Rowe Construction Company carries a CGL policy that has a $500,000 per occurrence limit, $1,000,000 general aggregate limit and a per person medical payments limit of $25,000. Employees cause $200,000 property damage and $400,000 bodily injury when persons are injured and property is damaged in connection with a construction project. Two of the employees suffer medical expenses of $15,000 each. How much will the insurer pay on behalf of Rowe Construction?
When one subrogates, it means:
Substitution of one creditor for another
Monies owed due to negligence
The same as restitution
The same as surrogate
____ is not covered under the dwelling property program.
A mobile home which is installed on a permanent foundation.
A 4-family building complex with one resident using a bedroom as an office.
A 3-family apartment house.
A 1-story apartment house with eight roomers.
Ralph purchased an outdoor TV and installed it on the wall of his outdoor patio. There was a severe storm where Ralph’s home is located and his outdoor TV was destroyed. Although Ralph paid 5,000 dollars for his TV, the special limit that applied to damaged outdoor TV was ___. This limit also applies to outdoor antennas and satellite dishes.
Assume a commercial umbrella liability policy is in effect and all conditions are met. Identify the correct statement.
A customer's leg was fractured by a fall in the insured's warehouse. This damage would be covered under the policy's Personal and Advertising Injury Liability coverage.
An insured is responsible for damaging a client's million dollar shipment of products. This damage would be covered under the policy's Bodily Injury and Property Damage Liability coverage.
An individual suffered embarrassment after tripping over a brick someone had left in the insured's walkway. This damage would be covered under the policy's Personal and Advertising Injury Liability coverage.
An individual claims the insured made libelous statements that have damaged the individual's career. This damage would be covered under the policy's Bodily Injury and Property Damage Liability coverage.
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