1. Under a crime policy, the insured must submit a sworn proof of loss within A....

1. Under a crime policy, the insured must submit a
sworn proof of loss within
A. 30 days
B. 60 days
C. 90 days
D. 120 days

2. What kind of surety bond guarantees a
contractor will complete a project per the
specifications of the contract?
A. Fidelity bond
B. Supply bond
C. Performance bond
D. Bid bond.

3. 1. All of the following are excluded from the
personal auto policy EXCEPT
A. bail bonds
B. damage to owned or rented property
C. using the car as a taxi
D. all-terrain vehicles

4. Zuri’s floral shop has a loan with Townwide
Bank on a fleet of vans her business uses for
local deliveries. Who has an insurable interest
in the fleet?
A. Zuri
B. Zuri and her insurance company
C. Zuri and Townwide Bank
D. Zuri, Townwide Bank, and her insurance
company

5. John bought a car recently for his daughter
to drive to school and her job. Under John’s
automobile policy, this car is considered a(n)
A. temporary substitute automobile
B. nonowned automobile
C. uninsured automobile
D. owned automobile

6. Which one of the following situations would
most likely be covered by a commercial general
liability (CGL) policy?
A. A surfboard falls off a shelf and injures an
employee.
B. An employee sues for wrongful termination.
C. A customer is injured when he slips on the
wet floor in the surfing shop.
D. The surfboard damages the floor when it
falls.
what are the answers for these questions

Solutions

Expert Solution

Requirement 1: The correct option is “D”

In the case of commercial crime policy, the insured is required to notify the insurer within 120 days and provide a sworn proof of loss and lodge a complaint with police when there is violation of law.

Requirement 2: The correct option is “C”

A contractor is required to executive a performance bond to guarantee that he completes the job according to contract specifications.

Requirement 3: The correct option is “A”

Personal auto policy does not provide coverage for the damage to owned or rented vehicle, all-terrain vehicles, and when the vehicle is used for transporting commuters for a fee.

Requirement 4: The correct option is “A”

In this case, company Z only has an insurable interest in the vehicles because it is the company which owns the vehicles and uses for local deliveries.

Requirement 5: The correct option is “D”

The car is considered owned automobile because it is used for driving to school and to her job

Requirement 6: The correct option is “C”

The options A and B are covered under workers compensation insurance and bodily injury is the only injury covered under commercial general liability policy.

ekkarill92 answered 1 year ago

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