Woolpert Risk Awareness Program - Module 5

27 Questions | By Woolpert | Last updated: Mar 18, 2022 | Total Attempts: 76

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This quiz covers the material from Module 5. You MUST submit your name (First Name Last Name) so as to receive credit for your score.

Questions and Answers

1.

True or false? Breach of warranty is covered under Woolpert’s professional liability policy.
- A.
  
  True
- B.
  
  False
2.

True or false? Deductible and premiums have a direct relationship to one another.
- A.
  
  True
- B.
  
  False
3.

Woolpert’s commercial general liability policy has the following limit(s) of liability:
- A.
  
  $1,000,000 per occurrence
- B.
  
  $2,000,000 annual aggregate
- C.
  
  A and B
- D.
  
  None of the above
4.

Professional liability is available on what basis:
- A.
  
  Per claim
- B.
  
  Per occurrence
- C.
  
  Bodily injury/property damage
- D.
  
  Joint and several
5.

True or false? Every year Woolpert experiences more claims than the previous year.
- A.
  
  True
- B.
  
  False
6.

Woolpert can agree to name our clients as an additional insured on the following policy:
- A.
  
  Professional liability
- B.
  
  Automobile liability
- C.
  
  Workers' compensation
- D.
  
  Commercial general liability
7.

A bid bond is intended to cover:
- A.
  
  The faulty performance of the contractor on the project
- B.
  
  Payment by the contractor to its subcontractors and vendors for the project
- C.
  
  The client’s costs to re-bid or choose the next higher contractor if the original contractor refuses to sign a contract
- D.
  
  None of the above
8.

True or false? Woolpert’s automobile insurance covers employees driving from their home to their office.
- A.
  
  True
- B.
  
  False
9.

If an employee from Woolpert accidently cuts down a tree while performing a site observation or survey, what policy would provide coverage (assuming the damage is in excess of Woolpert’s deductible):
- A.
  
  Professional liability
- B.
  
  Employer’s liability
- C.
  
  Workers' compensation
- D.
  
  Commercial general liability
10.

Woolpert’s professional liability policy is what type of policy:
- A.
  
  Project
- B.
  
  Joint and several
- C.
  
  Practice
- D.
  
  Combined single limit
11.

An OCP policy stands for:
- A.
  
  Owner’s and Contractor’s Policy
- B.
  
  Overhead Coverage Policy
- C.
  
  Owner’s and Contractor’s Protective
- D.
  
  OHSA Contractor’s Policy
12.

Woolpert’s professional liability insurance has an initial deductible of:
- A.
  
  $50,000
- B.
  
  $500,000
- C.
  
  $250,000
- D.
  
  $25,000
13.

True or false? Bonds are a form of insurance.
- A.
  
  True
- B.
  
  False
14.

What are the three types of bonds that Woolpert has generally obtained:
- A.
  
  Bid, performance, and payment
- B.
  
  Labor, materials, and equipment
- C.
  
  Performance, materials, and payment
- D.
  
  General, professional, and automobile
15.

True or false? Woolpert’s claim history is not consistent with Woolpert’s growth.
- A.
  
  True
- B.
  
  False
16.

Which service line has not been involved with litigation during the period of 1990 thru 2008:
- A.
  
  SD
- B.
  
  EIM
- C.
  
  WM
- D.
  
  FD
17.

The majority of Woolpert’s professional liability claims are made by:
- A.
  
  Clients
- B.
  
  Third parties
- C.
  
  Subconsultants
- D.
  
  International collection agencies
18.

The costs of defending claims includes:
- A.
  
  Settlement costs
- B.
  
  Staff downtime
- C.
  
  Attorney’s fees
- D.
  
  All of the above
19.

The following should be reported to Woolpert’s In-House legal counsel immediately:
- A.
  
  Claims
- B.
  
  Addendum requests
- C.
  
  Incidents
- D.
  
  Only (A) and (C)
- E.
  
  All of the above
20.

True or false? Endorsements to policies are only intended to add to the standard coverage.
- A.
  
  True
- B.
  
  False
21.

True or false? The limit of liability on an insurance policy represents the maximum amount of damages that an insured can be held liable for.
- A.
  
  True
- B.
  
  False
22.

A waiver of subrogation on workers' compensation is not permitted in what State?
- A.
  
  North Carolina
- B.
  
  Ohio
- C.
  
  Colorado
- D.
  
  All of the above
23.

True or false? Rental cars retained by employees in the course of business for Woolpert are covered under Woolpert’s commercial general liability policy.
- A.
  
  True
- B.
  
  False
24.

True or false? Professional liability policies written on a project basis are intended to help remove exposure from an underlying practice policy.
- A.
  
  True
- B.
  
  False
25.

True or false? Builder’s risk insurance is the typical policy under which construction projects are insured.
- A.
  
  True
- B.
  
  False