Free Other Casualty Practice Questions
Ohio Casualty exam (series 11-47) — 86 practice questions.
Subtopics: Surety bond, Commercial JUA, Commercial market assistance, Ohio Automobile Insurance Plan, Due diligence, Producing agents, Surplus lines bond, Exempt commercial purchaser, Surplus lines license, Home state, Records retention, Insured acknowledgment, Surplus lines tax, Commercial umbrella, Professional liability, Directors and officers, Employment practices liability, Liquor liability, Cyber liability, Garage and dealers, Excess liability, Umbrella self-insured retention, Medical malpractice, Fidelity bond, Performance bond, License and permit bond, Environmental liability, Personal umbrella, Umbrella drop down, Maintenance of underlying insurance, Umbrella retained limit, Business exclusion, Homeowners additional coverages, Homeowners Section II, Homeowners exclusions, Personal liability, Insurer's right to settle, Errors and omissions, D&O insurance authority, D&O coverage, Fiduciary liability, EPLI, Cyber, Surety bond types, Federal construction bonds, Judicial bonds, Public official bonds, Surety vs insurance, Aircraft liability, Watercraft liability, Pollution liability, Product recall, Nonprofit D&O, Umbrella vs excess, Surety bonds, Surety bond parties, Miller Act, Penal sum, Consent of surety, Fidelity vs surety, ERISA bond, Court bonds, SBA surety guarantee
Read the Other Casualty study guide
Sample questions & answers
1. A three-party agreement in which a surety guarantees an obligation to an obligee is a:
Surety bond
A surety bond is a three-party agreement whereby a guarantor assumes an obligation to pay a second party (the obligee).
2. The Ohio Commercial Insurance Joint Underwriting Association is activated for a class of commercial insurance:
Only by Superintendent rule after the assistance plan fails to place risks
The association is activated for a particular class only by rule of the Superintendent upon findings that many eligible requests went unplaced by the market assistance plan and the lack of coverage threatens Ohio entities.
3. Each policyholder of the Ohio Commercial Insurance Joint Underwriting Association pays a stabilization reserve fund charge equal to what percentage of the annual premium?
20%
Policyholders pay a stabilization reserve fund charge equal to twenty percent of the annual premium until the board finds the fund actuarially sound.
4. For Ohio's commercial market assistance plan and joint underwriting association, "commercial insurance" excludes:
Workers' compensation and medical malpractice
Commercial insurance means commercial casualty, property or liability lines, except workers' compensation, medical malpractice, pollution, fidelity and surety, sickness and accident, involuntary-market coverages and farmowners.
Practice: Other Casualty
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
