Free Commercial Property Policies Practice Questions
North Dakota Property exam — 109 practice questions.
Subtopics: Commercial cancellation, Commercial new policies, Commercial nonrenewal, Commercial renewal terms, Commercial scope, Loss of reinsurance appeal, Commercial notice to agent, Commercial dues cancellation, TRIA program trigger, TRIA insurer deductible, TRIA federal share, TRIA annual cap, TRIA expiration, TRIA make-available, Commercial package policy, Building and personal property, Special cause of loss, Business income, Extra expense, Builders risk, Cause of loss basic, Ordinance or law CP 04 05, Peak season, Spoilage, Value reporting, Legal liability, Inland marine purpose, Contractors equipment floater, Transportation coverage, Equipment breakdown, Need for equipment breakdown, Farm property form, Livestock coverage, Interline endorsements, Commercial coinsurance, Mobile agricultural equipment, Causes of Loss Broad Form, Building definition, Your business personal property, Personal property of others, Newly acquired or constructed property, Vacancy provision, Agreed value option, Inflation guard option, Replacement cost option, Business income with extra expense, Maximum period of indemnity, Monthly limit of indemnity, Extended business income, Civil authority commercial, Dependent properties, Ordinance or law increased cost, Pollutant cleanup and removal, Preservation of property, Tenants improvements and betterments, Leasehold interest coverage, Accounts receivable coverage, Valuable papers and records, Common policy conditions, Common conditions - cancellation, Examination of books, Inspections and surveys, Transfer of rights, Commercial property conditions, Commercial other insurance, Control of property, Property not covered - BPP, Property not covered - land, BPP 100 feet, Newly acquired - buildings limit, Outdoor property extension, Valuable papers extension, Property off premises extension, Fire department service charge CP, Preservation of property CP, Pollutant cleanup limit, Debris removal CP, CP vacancy, CP vacancy reduction, CP loss payment timing, CP valuation default, Stock valuation, Basic form perils, Sinkhole collapse, Special form theft limits, Special form collapse, Business income definition, Business income waiting period, Extended business income days, Business income coinsurance, Civil authority distance, Condominium association form, Condo commercial unit-owners, Legal liability form, Inland marine scope, Bailee customer, Inland marine conditions, Causes of loss, Builders risk calculation, Boiler and machinery, Ordinance or law
Read the Commercial Property Policies study guide
Sample questions & answers
1. A North Dakota commercial property policy that has been in force more than 90 days may be canceled midterm for which reason?
Loss of reinsurance covering much of the risk
N.D.C.C. 26.1-30.1-02 limits midterm cancellation of commercial insurance to listed reasons, including nonpayment, fraud, substantial change in risk, and loss of reinsurance covering a significant amount of the risk.
2. Except for nonpayment, a North Dakota commercial policy in force over 90 days cannot be canceled earlier than how many days after notice?
30 days
N.D.C.C. 26.1-30.1-03 makes cancellation for reasons other than nonpayment ineffective before thirty days after notice; nonpayment requires at least ten days' notice of the amount due.
3. A North Dakota commercial policy in effect less than 90 days may be canceled for any reason, but not until at least how many days after written notice?
10 days
N.D.C.C. 26.1-30.1-04 exempts policies in effect less than ninety days from the reason and 30-day rules, but no cancellation is effective until at least ten days after written notice.
4. A North Dakota insurer must give notice of nonrenewal of a commercial policy, with the reasons, at least how many days before expiration?
60 days
N.D.C.C. 26.1-30.1-06 requires notice of intention not to renew at least sixty days before expiration, with a statement of reasons, unless the insured has insured elsewhere or agreed to nonrenewal.
Practice: Commercial Property Policies
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.
