FREE MPI Commercial Insurance Questions and Answers

Question 1

Which of the following are true about the 60-day basic extended reporting period? Select all that apply.

Accepted Answer

A,B, and C

Answer

It becomes effective automatically if needed when a claims-made policy expires.

Answer

It does not require an additional premium

Answer

No separate endorsement is required to provide this extended reporting period.

Question 2

What is the purpose of a retroactive date in the claims-made form?

Accepted Answer

Stipulates a date as the first date on which an event can occur and be covered by the policy if a claim is filed

Answer

Extends the period of time in which a claim can be covered under the policy

Answer

Extends the policy period

Answer

Stipulates a date after which any loss that occurs will not be covered

Question 3

Which of the following is a personal and advertising injury?

Accepted Answer

Calling a client a cheat and a fraud

Answer

Broken leg

Answer

Death

Answer

Dog bite

Question 4

Which of the following are usually excluded under Coverage A of the Commercial General Liability policy? Select all that apply.

Accepted Answer

A and B

Answer

Property damage to property owned by the insured

Answer

Property damage to property in the care, custody, or control of the insured

Answer

Bodily injury sustained by an insured while using the insured's product

Question 5

All of the following reduce the CGL's General Aggregate Limit except which of the following?

Accepted Answer

Products-Completed Operations limit

Answer

Medical Payments sublimit

Answer

Personal and Advertising Injury limit

Answer

Fire Damage limit

Question 6

A woman is injured when she breaks a tooth on a rock that mysteriously found its way into a box of cereal. This is an example of which of the following?

Accepted Answer

Products-completed operations exposure

Answer

Premises and operations exposure

Answer

Contingent liability exposure

Answer

Contractual liability exposure

Question 7

Which of the following business liability exposures are either excluded altogether from the CGL or covered only in certain circumstances? Select all that apply.

Accepted Answer

C and D

Answer

Premises and operations

Answer

Pollution

Answer

Work-related injuries to employees

Question 8

Which one of the following is not required in a CGL coverage part?

Accepted Answer

Causes of Loss form

Answer

CGL declarations

Answer

One or more CGL coverage forms

Answer

Common Policy Conditions

Question 9

Which of the following would be considered mobile equipment under the Commercial General Liability coverage form? Select all that apply.

Accepted Answer

B and C

Answer

Truck used to transport personnel to construction sites

Answer

Road construction grader

Answer

Bulldozer

Question 10

Which of the following are excluded under Coverage A of the CGL?

Accepted Answer

All of the above

Answer

Damage the insured causes intentionally

Answer

Pollution losses caused by the insured

Answer

Liquor liability for those in the business of serving liquor