Commercial Floater Risk Quiz

What type of coverage does the 'Motor truck cargo form' provide?

• Coverage for cargo in transit by mail

• Coverage for cargo transported in a truck

• Coverage for theatrical property

• Coverage for electronic data processing equipment

Answer explanation

The 'Motor truck cargo form' specifically provides coverage for cargo transported in a truck, protecting goods while they are being transported over land, making this the correct choice.

Which form provides coverage for motion picture film?

• Signs

• Valuable papers and records

• Mail

• Film

Answer explanation

The correct choice is 'Film' as it specifically provides coverage for motion picture film, unlike the other options which do not pertain to film coverage.

What does 'Electronic data processing equipment coverage' include?

• Coverage for theatrical property

• Coverage for computer hardware and software

• Coverage for jewelers' merchandise

• Coverage for neon signs

Answer explanation

'Electronic data processing equipment coverage' specifically includes coverage for computer hardware and software, protecting against risks associated with these essential technologies.

Which form is used for a single trip transit coverage?

• Mail

• Motor truck cargo form

• Trip transit coverage form

• Annual transit coverage form

Answer explanation

The Trip transit coverage form is specifically designed for single trip transit coverage, making it the correct choice. Other options like the Annual transit coverage form cover multiple trips.

Which of the following is a Dealer floater?

• Accounts receivable

• Camera and musical instrument dealers

• Valuable papers and records

• Signs

Answer explanation

A Dealer floater covers specific types of property for dealers. Camera and musical instrument dealers are included as they often need coverage for their inventory, making this the correct choice.

What is the liability specified on in transit coverage forms?

• A Business floater

• A Jewelers block form

• A Declaration page

• A Bill of Lading form

Answer explanation

A Bill of Lading form is crucial for in transit coverage as it serves as a receipt and contract between the shipper and carrier, detailing the liability for goods during transportation.

What is the primary focus of the 'Accounts receivable' form?

• Covering medical instruments

• Replacing damaged manuscripts

• Reimbursing uncollectible amounts due to record damage

• Protecting neon signs

Answer explanation

The 'Accounts receivable' form primarily focuses on reimbursing uncollectible amounts due to record damage, ensuring that financial losses from uncollectible debts are addressed.

Which of the following is an Equipment floater?

• Physicians and surgeons equipment

• Floor plan

• Accounts receivable

• Jewelers block

Answer explanation

The correct choice, Physicians and surgeons equipment, is an Equipment floater, which provides coverage for movable equipment used by medical professionals. The other options do not qualify as equipment floaters.

Which form provides coverage for art or antique dealers?

• Theatrical property

• Dealers coverage

• Mail

• Film

Answer explanation

Dealers coverage is specifically designed to protect art and antique dealers, covering their inventory and related risks. Other options like theatrical property and film do not provide this specific coverage.

What does the 'Theatrical property' form exclude?

• Scenery and props

• Theatrical property in the care of the insured

• Costumes

• Jewelry with precious stones

Answer explanation

The 'Theatrical property' form excludes jewelry with precious stones, as it typically covers scenery, props, and costumes, but not valuable personal items like jewelry.