Free Commercial Crime Practice Questions
Vermont Casualty exam (series 14-42) — 38 practice questions.
Subtopics: Employee dishonesty, Money and securities, Computer fraud, Forgery, Employee theft, Forgery or alteration, Theft inside premises, Discovery vs loss sustained, ERISA fidelity, Outside the premises, Money orders and counterfeit, Funds transfer fraud, Robbery defined, Safe burglary defined, Clients property, Discovery form, Insuring agreements, Employee defined, Employee theft exclusions, Inventory shortages, Crime territory, Money and securities defined, Valuation, Robbery vs theft, Voluntary parting exclusion, Joint insured, Employee benefit plans, Fidelity bonds, Government crime, Crime insuring agreements, Crime exclusions, Fidelity bond types
Read the Commercial Crime study guide
Sample questions & answers
1. Commercial crime coverage for losses caused by employee theft is commonly called:
Employee theft coverage
The current ISO crime forms call this insuring agreement Employee Theft (formerly employee dishonesty or fidelity). It covers loss of money, securities, and other property from theft by employees.
2. Commercial crime 'money and securities' coverage protects against loss of cash by:
Theft, disappearance, or destruction
The money and securities insuring agreements cover loss of money and securities resulting directly from theft, disappearance, or destruction inside the premises or, under the outside-the-premises agreement, while in a messenger's care.
3. Computer and funds transfer fraud coverage in a crime policy addresses:
Fraudulent transfers of money or property
Computer and funds transfer fraud coverage pays for loss from fraudulent computer instructions or fraudulent instructions to a financial institution that transfer money, securities, or other property away from the insured.
4. Forgery or alteration coverage in a commercial crime policy applies to:
Forged or altered checks and similar instruments
Forgery or alteration coverage pays for loss from forgery or alteration of checks, drafts, promissory notes, and similar instruments drawn on the insured's accounts.
Practice: Commercial Crime
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.
