Unit 12 quiz

Which of the following commercial inland marine coverage forms CANNOT be included in the commercial package policy?

**A) Bailee's customer B) Film C) Physician's and surgeon's equipment D ) Accounts receivable

A bailee's customer policy covers

**A) the customer for loss to customers' property, regardless of liability B) the bailor for damage to the property when it leaves the bailor's custody C ) the bailor for damage to property left in the custody of another D) only the bailee's legal liability for damage to customers property

What is the inland marine transportation form that protects all of the insured's incoming or outgoing shipments during the year against loss while in transit?

A ) Trip transit policy B ) Motor truck cargo - shippers policy **C) Annual transit policy D) Motor truck cargo policy

company requests a proof of loss on a commercial inland marine claim, the insured must submit it within

A) 90 days B ) 10 days C) 30 days **D) 60 days

Which of these losses would NOT be covered under the signs coverage form?

A) A sign attached to a building is damaged when a tree falls during a thunderstorm. B) The electric sign above the insured's business is destroyed in a thunderstorm. **C) During installation, several tubes in the insured's fluorescent sign are damaged. D) The insured's neon sign is damaged when vandals throw rocks at it

Which of the following is NOT an example of a category of risk in commercial inland marine insurance?

A) Commercial floater risks B ) instrumentalities C) Domestic shipments **D ) Personal inland marine insurance

The insured's accounting records are destroyed in a fire. Which of the following losses would NOT be covered under the insured's accounts receivables coverage form?

A) Interest on a short-term loan the insured obtains to stay in business while collections are impaired B) Fees charged by the collection agency the insured hired **C) A loss that required an audit of records to prove its existence D) Bill payments the insured cannot collect from customers because of damage to the records

Which inland marine transportation form protects the truck carrier for liability arising out of the transportation of cargo?

A) Motor truck cargo-shipper's policy B ) Trip transit policy C) Annual transit policy **D) Motor truck cargo policy

А loss is covered under a commercial inland marine form and another policy Both policies are written on the same basis The commercial inland marine form will

A) pay on an excess basis B) not pay anything on the loss C ) pay 50 % of a pro rata basis and 50 % of an excess **D) pay on a pro rata basıs

The bailee policy pays

A) the insurer B) the insured C ) the business **D) the customer