PGI - Personal General Insurance - PGI - Personal General Insurance

Question 1

What is the difference between 'occurrence-based' and 'claims-made' liability policies?

There is no practical difference between the two Occurrence-based covers incidents happening during the policy period regardless of when claimed; claims-made covers claims first made during the policy period Claims-made policies are cheaper but provide less coverage Occurrence-based applies only to property insurance

Correct Answer:

Occurrence-based covers incidents happening during the policy period regardless of when claimed; claims-made covers claims first made during the policy period

Question 2

What is 'contingent liability' in commercial general liability insurance?

Liability that is certain to occur Liability that arises from the actions of independent contractors or subsidiaries rather than the insured directly Liability that exceeds the policy limit Liability for environmental pollution

Correct Answer:

Liability that arises from the actions of independent contractors or subsidiaries rather than the insured directly

Question 3

What does 'retroactive date' mean in a claims-made liability policy?

The date the policy is renewed The earliest date from which incidents will be covered under the claims-made policy The date the previous insurer's coverage ended The date the insured first became liable

Correct Answer:

The earliest date from which incidents will be covered under the claims-made policy

Question 4

What is 'extended reporting period' (tail coverage) in a claims-made policy?

An extension of the policy period for new incidents A period after policy expiry during which claims can be reported for incidents that occurred during the policy period An automatic renewal of the policy for a shorter period Coverage for incidents during the extended period only

Correct Answer:

A period after policy expiry during which claims can be reported for incidents that occurred during the policy period

Question 5

What is 'products completed operations' coverage and when does it apply?

Coverage during the manufacturing process only Coverage for bodily injury or property damage arising from completed products or finished operations away from the insured's premises Coverage for raw materials before they become products Coverage only while products are in transit

Correct Answer:

Coverage for bodily injury or property damage arising from completed products or finished operations away from the insured's premises

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About this Exam

Prepare with the PGI - Personal General Insurance practice quiz. This question bank includes 50 questions covering insurance, singapore, liability, policy, and marine. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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PGI - Personal General Insurance

This practice set contains 50 questions from the matching question bank and focuses on insurance, singapore, liability, policy, and marine. 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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PGI - Personal General Insurance

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