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  2. Vermont
  3. Property & Casualty
  4. Inland Marine and Surety

Free Inland Marine and Surety Practice Questions

Vermont Property & Casualty exam — 34 practice questions.

Subtopics: Commercial inland marine, Bailee coverage, Surety parties, Performance bond, Surety reimbursement, Bid bond, Building and personal property, Causes of loss forms, Business income, Commercial package, Equipment breakdown, Coinsurance, Builders risk, Extra expense, Ordinance or law, Inland marine, Reporting form, Causes of loss special form, Agreed value, Peak season endorsement, Spoilage coverage, Causes of loss basic form, Newly acquired property, Functional valuation, Causes of loss broad form, Debris removal, Brands and labels, Pollutant cleanup, Legal liability coverage form, Tenant improvements, Earthquake coverage

Sample questions & answers

1. Commercial inland marine insurance typically covers:

Movable property and property in transit, such as contractors' equipment

Inland marine covers movable property, goods in transit, and instrumentalities of transportation and communication.

2. A dry cleaner that insures customers' garments in its care is using:

Bailee coverage

Bailee coverage protects property of customers left in the insured's care, custody, or control.

3. In a surety bond, the party that guarantees the obligation will be performed is the:

Surety

A surety bond involves the principal, the obligee, and the surety, which guarantees the principal's performance to the obligee.

4. A performance bond guarantees that:

A contractor will complete the project according to the contract

A performance bond guarantees the contractor will complete the work per the contract terms, protecting the project owner.

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Practice: Inland Marine and Surety

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

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.