AU 62 EXAM ACTUAL 2025/2026 CORRECTLY ANSWERED

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AU 62 EXAM ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Which one of the following statements about owners and contractors protective liability coverage is true? - Answer -It covers the property owner for damage arising from the contractor's operations. A contractor was hired by a railroad to work on a bridge adjacent to railroad tracks. Which one of the following types of insurance coverage would best respond to claims against the railroad arising out of the contractor's work? - Answer -A Railroad Protective Liability Coverage Form purchased by the contractor Best Builders is a commercial building contractor. The company often hires subcontractors to perform certain activities on a job. According to the Commercial Lines Manual (CLM), the work performed by subcontractors should be separately classified under Contractors subcontracted work (91583) only if which one of the following is true? - Answer -The subcontractor maintains adequate separate insurance coverage Martin, a commercial lines underwriter, is reviewing the general liability application for Shelton Manufacturing. The company processes recyclable plastic into a variety of products. Which one of the following guidelines should Martin follow when classifying Shelton Manufacturing's operations? - Answer -Martin should base the classification on the intended use of the final product. Which one of the following is one of the five classifications the Commercial Lines Manual (CLM) uses to refine the general liability classification process? - Answer -Contracting or servicing The ISO Commercial Lines Manual's definition of the premium base "gross sales" is the gross amount of money charged by the named Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com insured, by the concessionaires of the named insured, or by others trading the insured's name for various specifically named sources of funds collected. Which one of the following is one of those sources of funds? - Answer -Money charged for rentals is part of gross sales The ISO Commercial Lines Manual's definition of the premium base "gross sales" is the gross amount of money charged by the named insured, by the concessionaires of the named insured, or by others trading the insured's name for all of the following, EXCEPT: - Answer -Sales Tax For general liability insurance purposes, in addition to salaries and wages, the ISO Commercial Lines Manual's definition of "payroll" includes which one of the following? - Answer -Overtime, holiday, and vacation pay. All of the following correctly describe underwriting considerations when evaluating the extent of an insured's liability exposure to the public, EXCEPT: - Answer -The presence of heavy traffic automatically means that the premises has an excessive exposure. Which one of the following is an underwriting consideration when evaluating the extent of an insured's liability exposure to the public? - Answer -Differences in exposure between two premises may be the result of location, type of business, and time in business. Most of the claims covered by liability insurance are based on - Answer -Tort Law A mining company has a partial ceiling collapse in one of its mines. Investigators discover that the company neglected maintenance of their safety systems which resulted in serious injury to several of their employees during the mine's ceiling collapse. The legal liability imposed on the company for the injury to its employees is based on - Answer -statute Liability imposed by certain statutes, such as workers compensation laws, is an example of - Answer -Strict Liability A farmer is angry that the neighbor's children ride all-terrain vehicles Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com