Online Access Free C131 Exam Questions

A broker is emailed by a prospect looking to cover his three stores that do not hold title to any goods, and can never be held contractually responsible for those goods. What type of stores are these?

• A.Freight forwarding
• B.Bailor
• C.Manufacturing
• D.Consignment

When a broker is focusing on a manufacturing facility's housekeeping regimen and safeguards for a prospect, what is he primarily trying to establish?

• A.Whether the prospect is a morale hazard
• B.How many expenses the facility has
• C.Whether the prospect is profitable
• D.How large the facility is

An insured who owns a factory had a major loss. A pressure vessel ruptured due to a faulty safety valve, causing water escape, that resulted in significant water damage. The insured is covered by two insurance policies. Which policy will cover this loss?

• A.The insured's EBI policy will pay the loss in full.
• B.The insured's remediation policy will cover the loss.
• C.The insured will select which policy to cover the loss.
• D.The insured's CGL policy will pay the loss in full.

A broker is reviewing a quote against a submission for a client. The client owns several older rental housing units. Underwriting has agreed to the submission, with a roof exclusion on the older buildings. The client is happy with the premium cost, but not the exclusion. What should the broker do next?

• A.Recommend the client find insurance elsewhere
• B.Suggest the client replace the roofs in exchange for removal of the exclusion
• C.Counsel the client to take the offer as is, since they like the price
• D.Debate the underwriting department to prove the roofs are in good condition

Which exclusion on the contractors' equipment floater applies to loss or damage caused by breaking through ice or sinking in soft ground?

• A.Territory exclusion
• B.Muskeg exclusion
• C.Sinkhole exclusion
• D.Overloading exclusion