CIC Commercial Property Practice Questions - CIC Commercial Property Institute Exam - CIC Commercial Property Practice Questions

Question 1

Under the ISO CP 00 10 Building and Personal Property Coverage Form, which coverage applies to the insured's machinery and equipment used in the business?

Coverage A - Building Coverage B - Your Business Personal Property Coverage C - Personal Property of Others Coverage D - Property in Transit

Correct Answer:

Coverage B - Your Business Personal Property

Question 2

Under CP 00 10, Coverage A - Building includes which of the following without needing to be added by endorsement?

Outdoor signs not attached to the building Land on which the building is situated Permanently installed fixtures, machinery, and equipment Cost to research, replace, or restore lost information on valuable papers

Correct Answer:

Permanently installed fixtures, machinery, and equipment

Question 3

An insured carries $800,000 of Coverage B Business Personal Property on CP 00 10 with 80% coinsurance. At the time of a covered $100,000 loss the actual replacement cost value of all BPP at the location was $1,250,000. The deductible is $1,000. How much will the insurer pay?

$$79,000 $$80,000 $$99,000 $$100,000

Correct Answer:

$$79,000

Question 4

Under CP 00 10, business personal property is automatically covered while temporarily within how many feet of the described premises?

100 feet 250 feet 500 feet 1,000 feet

Correct Answer:

100 feet

Question 5

Which of the following is NOT covered under Coverage A - Building of CP 00 10?

Permanently installed machinery and equipment Materials and supplies within 100 feet of the premises used to maintain the building The cost to replace the foundation that is below the surface of the lowest basement floor Outdoor fixtures attached to the building

Correct Answer:

The cost to replace the foundation that is below the surface of the lowest basement floor

Question 1

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About this Exam

Prepare with the CIC Commercial Property Practice Questions - CIC Commercial Property Institute Exam practice quiz. This question bank includes 100 questions covering coverage, property, business, insured, and income. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CIC Commercial Property Practice Questions - CIC Commercial Property Institute Exam

This practice set contains 100 questions from the matching question bank and focuses on coverage, property, business, insured, and income. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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CIC Commercial Property Practice Questions - CIC Commercial Property Institute Exam

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