CISR Designation Exam 24 Questions with Answers
Which of the following is true about Symbol 2 when used in the BAP? - CORRECT ANSWER Provides the
... [Show More] broadest coverage for owned autos.
Which of the following is true about Symbol 10 when used in the BAP? - CORRECT ANSWER Must be added through an endorsement.
Which of the following is true about symbols used in the Business Auto Policy (BAP)? - CORRECT ANSWER A symbol entered in Item Two - Covered Autos, next to the desired coverage, indicates the coverage for those autos desired.
Which of the following is true about Symbol 3 and Symbol 4 when used in the BAP? - CORRECT ANSWER These symbols provide automatic coverage for autos of the same type that are acquired during the policy period.
Symbol 8 can be used to trigger coverage for which of the following? - CORRECT ANSWER Autos that the named insured hires, rents, or borrows for business use, except those autos hired, rented, or borrowed from employees, partners, members of a limited liability company, and members of their households.
Which of the following is true about Symbol 1 when used in the BAP? - CORRECT ANSWER Provides liability coverage for any auto.
Which of the following is true about Symbol 7 when used in the BAP? - CORRECT ANSWER This symbol triggers coverage for specified autos.
Which of the following is true about Symbol 9 when used in the BAP? - CORRECT ANSWER Can be used to trigger liability coverage only.
Which of the following is true if Symbol 7 is used to trigger coverage on a BAP? - CORRECT ANSWER The insurance company must insure all owned autos before there is any automatic coverage for any newly acquired auto.
A policyholder has all three of their owned trucks insured on a BAP with Symbol 7 triggering coverage. They have liability on all three vehicles and comprehensive on one truck. They own no other vehicles. They trade-in a pick-up with liability and comprehensive, and replace it with a new pick-up truck. What type of automatic coverage do they have for the new pick-up truck under their BAP? - CORRECT ANSWER Liability and comprehensive for only 30 days.
Which of the following is true if Symbol 2 is used to trigger Liability and Physical Damage coverage on a BAP? - CORRECT ANSWER The insured does not have to report the newly acquired auto to the insurance company to have both liability and physical damage coverage for the policy period.
Which of the following is true if Symbol 3 is used to trigger coverage on a BAP? - CORRECT ANSWER Provides coverage for any newly acquired private passenger auto.
A policyholder has all three of their owned trucks on a BAP with Symbol 7 triggering coverage. They have liability on all three and comprehensive on two trucks. They own no other vehicles. What type of automatic coverage do they have for a newly acquired private passenger auto under their BAP? - CORRECT ANSWER Liability for only 30 days
In the Business Auto Policy, liability is automatically provided for which of the following? - CORRECT ANSWER Any trailer with a load capacity of 2,000 lbs and which is designed for travel on public roads
Which of the following is true if Symbol 2 is used to trigger coverage on a BAP? - CORRECT ANSWER If collision and comprehensive coverages are triggered in the declarations, any newly acquired truck automatically has this coverage for the policy period.
The Drive Other Car Coverage - Broadened Coverage for Named Individuals endorsement can be used to provide insured status for corporate officers or employees when driving non-company owned vehicles for personal use.
True
False? - CORRECT ANSWER True
The individual Named Insured endorsement automatically includes the resident spouse and family members as insureds.
True
False - CORRECT ANSWER True
John Jones has permission to drive a pick-up truck that is owned by ABC, inc. for a church project. The vehicle is insured under a BAP using Symbol 1 for liability. John causes an accident. Who would be provided coverage under the BAP? - CORRECT ANSWER ABC, Inc., the church, and John Jones
ABC, Inc. is the named insured on a BAP, with symbol 2 triggering liability coverage. John Jones, an employee of ABC, Inc. uses his own pick-up to run several errands for ABC. Who gets liability coverage under the BAP should John have a negligent accident using his owned auto on company business? - CORRECT ANSWER Neither ABC, Inc. or John Jones
Which of the following is included in the insuring agreement of the Business Auto Policy? - CORRECT ANSWER Pays for covered pollution cost or expense' the insured must legally pay
Which of the following is scheduled as a supplementary payment in the BAP? - CORRECT ANSWER Post-judgement interest
When a corporation is the named insured on a Business Auto Policy, which of the following is considered "you"? - CORRECT ANSWER The corporation only
Other people, besides "you", are considered insureds under the BAP. Which of the following would be covered as an insured under the BAP? - CORRECT ANSWER A permissive user of a covered auto
Who is considered "you" when an individual who is the sole owner of a business is the named insured on a Business Auto Policy (BAP)? - CORRECT ANSWER The individual only [Show Less]