Quiz: The Business Owner's Policy
The world of business is a tough one to conquer, but once you do, you’ll have a firm understanding of the inner workings of one of the biggest aspects of today’s society. Today we’ll be taking a look at the business owner's policy. What do you know about it? Let’s take a look.
- 1.What is the largest office building risk that might be eligible for a BOP?
- A.
Three stories and 50,000 square feet
- B.
Three stories and 75,000 square feet
- C.
Six stories and 75,000 square feet
- D.
Six stories and 100,000 square feet
- 2.3: Under the additional coverages of the Businessowners property coverage, property removed to protect it from loss will be covered at another location for up to how many days?A. 5 daysB. 10 daysC. 20 daysD. 30 days
- A.
5 days
- B.
10 days
- C.
20 days
- D.
30 days
- 3.What is the standard deductible for the BOP property coverage?
- A.
$500
- B.
$1,000
- C.
$750
- D.
$250
- 4.Which of the following statements applies to Mechanical Breakdown coverage?
- A.
It is not available in a BOP.
- B.
It is automatically provided in a BOP.
- C.
It is an optional BOP coverage that is activated by an entry in the declarations.
- D.
It is specifically designed to cover insured objects while they are being tested.
- 5.6: Which one of the following coverages is not included in the BOP?A. Bodily injury and property damage liabilityB. Personal and advertising injury liabilityC. Medical expenseD. Professional liability
- A.
Bodily injury and property damage liability
- B.
Personal and advertising injury liability
- C.
Medical expense
- D.
Professional liability
- 6.Which of the following would be covered under the building coverage of a BOP?
- A.
Restroom fixtures
- B.
Photocopy machines
- C.
Furnishings in the insured's private office
- D.
Carpets and floor tiles
- 7.Which of the following would be covered under the business personal property coverage of a BOP?
- A.
Desks, filing cabinets, and other office equipment the insured uses in her business
- B.
An enclosure around the front entry to a store that the insured tenant had built when he began leasing the building
- C.
Cans of paint that are stacked near a newly constructed outer wall prior to painting the wall
- D.
Fire extinguishers located at various places on the inside walls of the building
- 8.Which of the following is not excluded under Businessowners Liability coverage?
- A.
Damages the insured causes intentionally
- B.
Liquor liability for those in the business of serving liquor
- C.
Liability assumed under an insured contract
- D.
Damage to the insured's own work
- 9.What is the time limit for Extended Business Income coverage under the BOP?
- A.
30 days
- B.
45 days
- C.
60 days
- D.
90 days
- 10.For how long after the date of a direct physical loss will the insurance company pay for extra expenses under the extra expense additional coverage?
- A.
30 days
- B.
90 days
- C.
. 180 days
- D.
12 months
- 11.Unless a higher limit is shown in the declarations, what is the limit on coverage for business income from dependent properties?
- A.
$5,000
- B.
$10,000
- C.
$50,000
- D.
$100,000
- 12.What is the discovery period for coverage of losses under the employee dishonesty optional coverage?
- A.
One year from the date of the dishonest act
- B.
One year from the end of the policy period
- C.
Three years from the date of the dishonest act
- D.
Three years from the end of the policy period
- 13.Which of the following is covered under personal and advertising injury liability coverage in the BOP?
- A.
Slander and libel
- B.
Malicious prosecution
- C.
Copyright infringement
- D.
All of the above
Questions: 7 | Attempts: 20723 | Last updated: Nov 20, 2020
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