IC Assessment 2

This will assess your current knowledge base on the Inland Marine line of business. If the question comes with a hint, please select as this is a screen shot that will help assist in answering the question.

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The deductible for sign coverage is a percentage deductible.

  • True or False

Miscellaneous Tools coverage is Type 2.

  • True or False

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The class code for Contractors Equipment is .

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On the IM7006 co-insurance is selected if no co-insurance is instructed.

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If adding 25% IRPM credit it would be added as  on the system.

Inland Marine is the only line that doesn't have an entity field.

  • True or False

When deleting a piece of equipment from Contractors Scheduled Equipment what items need to be reviewed/updated?

  • Loss Payee
  • Name Insured
  • Coverage Limit
  • IM7001
  • IM7006
  • IM7030

For small tools coverage the deductible and the per tool limit should be the same.

  • True or False

On the IM7008 the Tools Limit should match the Catastrophe Limit.

  • True or False

Builders Risk can be added on a reporting form basis.

  • True or False