General Liability Line Of Business Quiz

10 Questions | Total Attempts: 67

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General Liability Line Of Business Quiz

This quiz is aimed at affording you more knowledge regarding the General Liability line of business -- both in conjunction with the BOP and CPP.


Questions and Answers
  • 1. 
    The voluntary property damage endorsement that can be added as a part of the General Liability package, is best described as:
    • A. 

      An endorsement that warrants little understanding.

    • B. 

      Removes the exclusion for damage you do to others property while it is in your care, custody, or control. Including items being directly worked on.

    • C. 

      An endorsement that removes all negligence required under suit for a liability case against the insured.

    • D. 

      An endorsement that covers vehicles while in your care, custody, or control.

  • 2. 
    Farm Bureau has the capability to offer the Voluntary Property Damage endorsement to anyone obtaining General Liability coverage.
    • A. 

      True

    • B. 

      False

  • 3. 
    Joe is a carpentry contractor requesting a quote from your Agency. Joe states he makes $55,000 annually as well as having 2 employees who carry a combined payroll of $30,000. The payroll applied to Joe's exposure within Agency Link is:
    • A. 

      $30,000

    • B. 

      $55,000

    • C. 

      $20,000

    • D. 

      $50,000

  • 4. 
    One of the most important reasons to purchase liability insurance, out of the options listed below, is:
    • A. 

      Defense Costs

    • B. 

      Proof of Liability for a job

    • C. 

      To pay for injuries when customers come to your premises

    • D. 

      A reason to work with that good looking agent who is selling it to you

  • 5. 
    The Commercial Department will write Day Care Facilities so long as the number of children is under 10.
    • A. 

      True

    • B. 

      False

  • 6. 
    An endorsement that removes Farm Bureau's ability to subrogate against a party at fault is:
    • A. 

      Additional Insured Endorsement

    • B. 

      Owners & Contractors Protective Endorsement

    • C. 

      Waiver of Subrogation Endorsement

    • D. 

      Professional Liability Endorsement

  • 7. 
    In order to write liquor liability on the CPP for a casual restaurant, the liquor sales must be under 30% of total gross revenue.
    • A. 

      True

    • B. 

      False

  • 8. 
    Check all types of businesses that are eligible for Professional Liability coverage with Farm Bureau:
    • A. 

      Veterinarians

    • B. 

      Accountants

    • C. 

      Beauticians

    • D. 

      Insurance Agents

  • 9. 
    If a standard ISO CGL policy is providing coverage to your insured, defense costs are payable in addition to the policy limit, with no dollar limitation.
    • A. 

      True

    • B. 

      False

  • 10. 
    Within the Underwriting Guidelines you will find the GL class code for Grocery Stores.  Underneath the class code it states 'sales.' Does this mean sales will have an impact on your liability premium?
    • A. 

      True

    • B. 

      False

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