Commercial Package Quiz Flashcards

1
Q

How do you know if a line of business applies in a commercial package policy

A

premium next to line on the dec pages

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2
Q

Who has the responsibility and authority to cancel a policy and make changes in the Commercial Policy Conditions?

A

First Named Insured

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3
Q

In Commercial Property, property that is used to maintain or service the premises is considered under what coverage?

A

building

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4
Q

Aggregate Limit is the most that will be paid out

A

in any policy period

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5
Q

Claims-Made General Liability policy does not apply to BI or PD damage that occurs when?

A

Before the retroactive date

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6
Q

Cargo form that covers for 1 shipment

A

trip transit

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7
Q

Amount for All Signs on the Commercial Property Policy?

A

$2,500

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8
Q

Commercial Property Vacancy Clause - % rented and/or used to not be vacant

A

at least 31%

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9
Q

Business Income Coverage applies after what waiting period?

A

72 hours

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10
Q

Commercial Property Coverage Option that suspends coinsurance?

A

Agreed Value

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11
Q

If the first report of a Value reporting form is not made, the max amount of the loss that gets paid?

A

75%

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12
Q

Equipment Breakdown Automatic Coverage for Ammonia Contaminations, Consequential Loss, Data & Media, Hazardous Substance and Water Damage has what limit

A

$25,000

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13
Q

Coverage D of Farm Coverage Form

A

loss of use

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14
Q

Drowning is not a covered loss if the swine is less than how old?

A

under 30 days

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15
Q

How many days must a structure be unoccupied or vacant in the Farm Form to reduce coverage?

A

120 consecutive days

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16
Q

Part B of Commercial General Liability Coverage

A

Personal & Advertising Injury

17
Q

Commercial General Liability Covers newly acquire organizations for how long?

A

90 days

18
Q

Visible Signs of Force entry

A

Burglary

19
Q

How long after Termination is it still an employee in the Commercial Crime Form

A

30 days

20
Q

Only Coverage that covers employees taking something

A

Employee Theft

21
Q

Slip and Fall is covered under what part of CGL

A

Premises/Operations

22
Q

Faulty Products are covered by what part of CGL

A

Products/Completed Operations