TB - Commercial Auto Insurance

Question 0

Which of the following is not a Business Auto Endorsement?

Drive other car

Change other driver

Individual Named Insurer

Mobil Equipment

Answer 0

Change other driver

Question 1

Which of the following statements is correct?

I. The Business Auto Policy uses 10 symbols to
define covered vehicles

II. Symbols 30 and 31 apply to Garage Policy

I only

II only

Neither I or II

Both I and II

Answer 1

Both I and II

Question 2

Under the Business Auto Policy, each of the following is true about classification of “covered autos”, except:

“Any auto” is the broadest coverage classification

An insured may select different classification for different coverages

All classes of newly acquired autos are automatically covered

“Hired autos” includes the insured leases, hires, rents, or borrows

Answer 2

All classes of newly acquired autos are automatically covered

Question 3

According to the Business Auto definitions, an “accident”:

Includes continuous or repeated exposure to the same conditions

Must be sudden and unexpected

Must be unexpected and unpreventable

Is any event that causes injury or damage

Answer 3

Includes continuous or repeated exposure to the same conditions

Question 4

Joseph Young, who is insured under a Business Auto policy is involved in an accident. He and the insurance company disagree on the amount to be paid for the damage to his car. Under the terms of the policy, which of the following statements is true:

Each party engages an appraiser, and the appraiser will select an umpire

Mr. Young must accept the insurance company’s estimate

Each party engages an appraiser, and the appraisers will decide the amount

The estimate of both parties will be averaged

Answer 4

Each party engages an appraiser, and the appraiser will select an umpire

Question 5

Under the Truckers Policy, which of the following is an additional coverage?

Combined additional coverage

Cargo coverage

Drive other trailer coverages

Trailer interchange

Answer 5

Trailer interchange

Question 6

Which of the following is considered a “garage operation”?

I. Ownership, maintenance or use of garage premises

II. Sale of products or services in connection with garage operations

III. Ownership or maintenance of covered autos

IV. Production or support of racing or competence operations

I and II only

I, II, and III only

I and III only

I, II, III and IV

Answer 6

I, II, and III only

Question 7

Which of the following would be covered under a Garage Liability Policy?

Damage to property the insured is transporting to another location

The use of covered autos leases to another party except as a replacement for a car under repair

Products and completed operations

Covered autos used in organized racing

Answer 7

Products and completed operations

Question 8

Which of the following pollution losses would be covered under the Garage Liability Policy?

I. Escape of toxic sludge from a dump site the
named insured utilizes to storage garage
waste

II. Pollution of a creek caused by a gasoline
leak from a ruptured fuel tank of a covered
truck following a collision with another
vehicle

I only

Both I and II

Nether I nor II

II only

Answer 8

II only

Question 9

Garage keepers coverage excludes all of the following losses, except:

Loss to a high value stereo system permanently installed in customers auto

Loss to CDs from a covered auto

faulty work performed by a mechanic

Theft of equipment from a covered auto by a garage employee

Answer 9

Loss to a high value stereo system permanently installed in customers auto