WPCP Wyoming Property & Casualty Producer - Set 3 - Part 3

Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.

Question 41: Under Coverage A of a commercial general liability policy, bodily injury and property damage must result from an event fitting a specific policy definition before coverage applies. Which term describes that triggering event, defined to include an accident and continuous exposure to harmful conditions?

claim

incident report

occurrence

loss notice

Question 42: A surety bond guarantees that a contractor will properly complete a project for the party that hired the contractor, with a surety company standing behind that promise. Which three parties together make up the structure of this type of bond arrangement?

Insured, insurer, and beneficiary

Grantor, trustee, and beneficiary

Lender, borrower, and guarantor bank

Principal, obligee, and surety

Question 43: A retailer's computer network is hacked, exposing customer payment card information, and the retailer must pay for forensic investigation, customer notification, credit monitoring, and legal costs that follow. Which liability coverage responds most directly to these breach response expenses and related third party claims?

Cyber liability coverage

Employee dishonesty coverage

Directors and officers coverage

Commercial general liability coverage

Question 44: An underlying policy's aggregate limit becomes exhausted partway through the policy period after paying several claims, leaving that layer with nothing left to pay a new covered claim. The umbrella policy responds as if it were primary insurance for that exposure. Which term describes the umbrella acting this way?

Follow form coverage

Drop down coverage

Other insurance coverage

Retrospective rating coverage

Question 45: Rather than listing separate maximums for bodily injury per person, bodily injury per accident, and property damage, an automobile liability policy states one total dollar amount available for all damages arising from a single accident. Which limit structure does this describe?

split limits

each occurrence limit

combined single limit

general aggregate limit

Question 46: A tenant causes accidental fire damage to the office space it leases from a landlord. Which additional coverage found within a commercial general liability policy is specifically designed to address the tenant's liability for this kind of damage to rented space?

products and completed operations coverage

medical payments coverage

personal and advertising injury liability

damage to premises rented to you

Question 47: A business auto policy schedule lists several specific vehicles that the insured company holds legal title to and regularly uses in its daily delivery and sales operations. Which category of covered auto describes vehicles the insured business actually owns outright under this schedule?

owned autos

hired autos

non-owned autos

temporary substitute autos

Question 48: A claims made professional liability policy excludes coverage for any wrongful act that took place before a specific date shown on the declarations, even though the resulting claim is first made and reported during the current policy period. Which term names that specific date?

The extended reporting period

The retroactive date

The effective date of cancellation

The discovery period end date

Question 49: A parked vehicle is damaged overnight in the owner's own driveway when a large tree branch falls onto it during a severe storm, with no other vehicle involved anywhere in the incident. Which physical damage coverage would typically respond to this type of loss?

collision coverage

bodily injury liability coverage

other than collision coverage

uninsured motorists coverage

Question 50: Overnight, someone pries open a locked warehouse door, leaving visible tool marks around the frame, and removes merchandise while the building is closed and unoccupied. Which crime term describes this loss, distinguished by the physical evidence of forced entry into a closed premises?

Robbery

Employee dishonesty

Computer fraud

Burglary

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