Commercial Package Policy

Question 1

All of the following our standard features of the BOP

Answer 1

No coinsurance, replacement cost on buildings, loss of the income with no dollar limit

Question 2

In order for a service risk to be eligible for a BOP, gross sales must not exceed:

Answer 2

$3 million

Question 3

The endorsement which will increase the BOP section 1 coverage at a certain percentage throughout the year is called:

Answer 3

Inflation guard

Question 4

Optional coverages offered in the business owners policy special form are:

Answer 4

Employee dishonesty, exterior signs, mechanical breakdowns

Question 5

What are the two business owners policy forms?

Answer 5

Open/named as an option

Question 6

Loss of income coverage in the business owners policy:

Answer 6

No dollar limit and include the loss of rents an extra expense

Question 7

Which of the following best describes the eligibility rule of an office building under a BOP?

Answer 7

100,000 ft.²

Question 8

The optional limits forBusiness owners liability coverage are all including:

Answer 8

300,000, 500,000, 1 million

Question 9

The pollutant cleanup and removal coverage included in the BOP is

Answer 9

$10,000

Question 10

In the liability section of the BOP, the general aggregate limit is:

Answer 10

Twice the occurrence limit