1. Who does a general liability policy cover?

• The business owner only
• Small businesses
• Many of the people involved in a business
• Major corporations only

1. If you have subsidiaries, your policy's liability coverage extends to any subsidiary where you own at least ____ percent of the stock.

• 10
• 33
• 85
• 50

1. Which is NOT protected by CGL?

• Bodily injury
• Property damage
• Fire, explosion or lightning damage
• Drug liability

1. Even if your company is not found liable for a claim, without insurance coverage, mounting a defense is:

• Expensive
• Impossible
• Easy
• Unnecessary

1. ________ law protects the legal rights of parties that have voluntarily entered into contractual agreements.

• Criminal
• Tort
• Comprehensive
• Contract

1. While the public may associate the legal concept of tort with _______, torts in fact may be either intentional or unintentional.

• Liability
• Injury
• Malice
• Negligence

1. Which of the following is NOT on the list of breaches of duties insured by a CGL policy?

• Breaking and entering
• False arrest
• Invasion of privacy
• Assault

1. Which kind of car should NOT be covered by comprehensive insurance?

• Owner's second vehicle
• Sports car
• Car with very low value
• Car older than 10 years

1. ______ liability arises out of injury and damage caused by conditions that exist in and around the insured's premises.

• Premises
• General
• Operations
• Minimum

1. Some premises liability suits are legitimate, but many are:

• Complex
• Frivolous
• Obvious
• Settled

1. When was the development of standard general liability insurance provisions undertaken?

• 1930s
• 1880s
• 1970s
• These provisions still need to be developed

1. The _______ page of the typical ISO CGL is usually the first page of the policy, and provides a summary of the policy.

• Endorsements
• Insuring Agreement
• Terms and Conditions
• Declarations

1. Which is NOT provided by ISO?

• Legal representation
• Policy language
• Technical services
• Fraud-identification tools

1. ISO's legal and government relations staffs are current with developments in _____ government and courts.

• Federal
• Internal
• Local
• State

1. ISO's available information helps insurers price their products by:

• More accurately predicting losses
• Offsetting costs of business
• Avoiding unprofitable customers
• Absorbing some of the risk

1. What key necessity for remaining in the market do small or new insurance firms often lack?

• Liability
• Adequate information
• Proprietary factors
• Underwriters

1. ISO actuaries use the following principles for data collection and analysis EXCEPT:

• Generally Accepted Actuarial Principles
• Work independently
• Analyze raw data
• Make powerpoints

1. ISO actuaries use raw data to perform:

• Prospective cost information
• Ratio analysis
• Complex analysis
• Trend analysis

1. The ________ Act gives primary insurance regulation to the states.

• Sherman
• McCarran-Ferguson
• Gramm-Leach-Bliley
• Glass-Steagall

1. Why might insurers need a limited exemption from state antitrust laws?

• To restrict competition
• To share loss information
• To fix prices
• To initiate appropriate boycotts

1. Forms that apply to more than one line are available as _________ forms.

• Multiline
• Double-lined
• Interline
• Extra

1. Which GCL Insuring Agreement defines the broadest scope of coverage?

• Coverage A
• Coverage B
• Coverage C
• Coverage D

1. Which is NOT included in a property damage claim?

• Medical expenses
• Cost to repair
• Lost income
• Cost to replace

1. The common question regarding cyber coverage asks whether a loss of such data constitutes a ______ harm sufficient to trigger coverage under traditional GLC policies.

• Financial
• Psychological
• Physical
• Reputational

1. Businesses must guard against inadvertently purchasing insurance that is too ______ to cover the numerous risks that they may face.

• Narrow
• Expensive
• Technologically outdated
• Vague

1. Which is an indirect benefit to purchasing cyber-security insurance?

• Encouraging best security practices
• Expanded coverage for data
• More purchasers means lower risk
• Fewer IT department costs