Question 1

By law an insurance policy has to be between just two entities

Accepted Answer

A) True 
 B)False  False

Question 2

A worker will have to sue an employer for injuries incurred while on the project

Accepted Answer

A) True 
 B)False  False

Question 3

Commercial General Liability Insurance

Accepted Answer

A)  is used to cover losses to others caused by the policy holder 
B)  covers exculpatory clauses in the contract 
C)  may be carried by the Owner rather than the Contractor 
D)  is not necessary provided it is so stated in the contract 
A)  is used to cover losses to others caused by the policy holder 
B)  covers exculpatory clauses in the contract 
C)  may be carried by the Owner rather than the Contractor 
D)  is not necessary provided it is so stated in the contract A

Question 4

Paying under the table is an attempt to avoid payroll and other costs related to the amount of payroll paid

Accepted Answer

A) True 
 B)False

Question 5

Defending a Commercial General Liability claim

Accepted Answer

A)  the insurance company is required by law to do all the work 
B)  the Contractor is not allowed to testify 
C)  the Contractor should try to provide as much information as possible to the attorney for the insurance company 
D)  no one wins 
A)  the insurance company is required by law to do all the work 
B)  the Contractor is not allowed to testify 
C)  the Contractor should try to provide as much information as possible to the attorney for the insurance company 
D)  no one wins

Question 6

Builder's Risk Insurance

Accepted Answer

A)  covers risk shifting clauses in the contract 
B)  covers exculpatory clauses in the contract 
C)  may be carried by the Owner rather than the Contractor 
D)  is usually not required when there are no major risks 
A)  covers risk shifting clauses in the contract 
B)  covers exculpatory clauses in the contract 
C)  may be carried by the Owner rather than the Contractor 
D)  is usually not required when there are no major risks

Question 7

If an insurance company accepts a claim with reservation

Accepted Answer

A)  they intend to drop the claim 
B)  they might defend the claim initially but reserve the right to drop it 
C)  they have little experience in this type of claim and reserve the right to change attorneys 
D)  they have no way to know whether the claim has merit 
A)  they intend to drop the claim 
B)  they might defend the claim initially but reserve the right to drop it 
C)  they have little experience in this type of claim and reserve the right to change attorneys 
D)  they have no way to know whether the claim has merit

Question 8

The Owner can carry the Builder's Risk insurance instead of the Contractor

Accepted Answer

A) True 
 B)False

Question 9

When defending a claim, the insurance company will want to know if the claim has merit and if the Contractor was covered for what occurred

Accepted Answer

A) True 
 B)False

Question 10

Worker's Compensation Insurance

Accepted Answer

A)  covers medical expenses but not lost wages 
B)  covers medical expenses and lost wages 
C)  covers lost wages but not medical expenses 
D)  requires the injured employee to sue for medical expenses and lost wages 
A)  covers medical expenses but not lost wages 
B)  covers medical expenses and lost wages 
C)  covers lost wages but not medical expenses 
D)  requires the injured employee to sue for medical expenses and lost wages

Question 11

An employer can never be held liable beyond the compensation provided by Worker's Compensation Insurance

Accepted Answer

A) True 
 B)False

Question 12

The average experience modifier is

Accepted Answer

A)  10 
B)  0.5 
C)  1 
D)  none of these 
A)  10 
B)  0.5 
C)  1 
D)  none of these

Question 13

Design Professionals rather than Constructors carry Errors and Omissions Insurance

Accepted Answer

A) True 
 B)False

Question 14

Design Professionals rather an Constructors carry Errors and Omissions Insurance

Accepted Answer

A) True 
 B)False

Question 15

Umbrella insurance adds to the total dollar amount protection of the insurance

Accepted Answer

A) True 
 B)False

Question 16

An occurrence policy protects the insured against claims made during the policy period even if the insurance carrier is no longer under Contract to the Contractor

Accepted Answer

A) True 
 B)False

Question 17

The average experience modifier is 1.0

Accepted Answer

A) True 
 B)False

Question 18

Unemployment insurance protects the worker if they become unemployed through no fault of their own

Accepted Answer

A) True 
 B)False

Question 19

Builder's Risk Insurance continues through the project until the Owner occupies the structure

Accepted Answer

A) True 
 B)False

Question 20

You can never waive subrogation rights

Accepted Answer

A) True 
 B)False

By law an insurance policy has to be between just two entities

A worker will have to sue an employer for injuries incurred while on the project

Commercial General Liability Insurance

Paying under the table is an attempt to avoid payroll and other costs related to the amount of payroll paid

Defending a Commercial General Liability claim

Builder's Risk Insurance

If an insurance company accepts a claim with reservation

The Owner can carry the Builder's Risk insurance instead of the Contractor

When defending a claim, the insurance company will want to know if the claim has merit and if the Contractor was covered for what occurred

Worker's Compensation Insurance

An employer can never be held liable beyond the compensation provided by Worker's Compensation Insurance

The average experience modifier is

Design Professionals rather than Constructors carry Errors and Omissions Insurance

Design Professionals rather an Constructors carry Errors and Omissions Insurance

Umbrella insurance adds to the total dollar amount protection of the insurance

An occurrence policy protects the insured against claims made during the policy period even if the insurance carrier is no longer under Contract to the Contractor

The average experience modifier is 1.0

Unemployment insurance protects the worker if they become unemployed through no fault of their own

Builder's Risk Insurance continues through the project until the Owner occupies the structure

You can never waive subrogation rights

Getting Started

An Introduction to Contracts, Torts, Statutes and Regulations

Owners, Designers, and Constructors

The Basics of Construction Contracts

Different Construction Contract Delivery Methods

Interpreting the Contract

Killer Clauses

Bonds

Warranties

Getting Started

Differing Site Conditions

Schedule

Liens

Filters

Exam 8: Insurance

By law an insurance policy has to be between just two entities

A worker will have to sue an employer for injuries incurred while on the project

Commercial General Liability Insurance

Paying under the table is an attempt to avoid payroll and other costs related to the amount of payroll paid

Defending a Commercial General Liability claim

Builder's Risk Insurance

If an insurance company accepts a claim with reservation

The Owner can carry the Builder's Risk insurance instead of the Contractor

When defending a claim, the insurance company will want to know if the claim has merit and if the Contractor was covered for what occurred

Worker's Compensation Insurance

An employer can never be held liable beyond the compensation provided by Worker's Compensation Insurance

The average experience modifier is

Design Professionals rather than Constructors carry Errors and Omissions Insurance

Design Professionals rather an Constructors carry Errors and Omissions Insurance

Umbrella insurance adds to the total dollar amount protection of the insurance

An occurrence policy protects the insured against claims made during the policy period even if the insurance carrier is no longer under Contract to the Contractor

The average experience modifier is 1.0

Unemployment insurance protects the worker if they become unemployed through no fault of their own

Builder's Risk Insurance continues through the project until the Owner occupies the structure

You can never waive subrogation rights

Getting Started

An Introduction to Contracts, Torts, Statutes and Regulations

Owners, Designers, and Constructors

The Basics of Construction Contracts

Different Construction Contract Delivery Methods

Interpreting the Contract

Killer Clauses

Bonds

Warranties

Getting Started

Differing Site Conditions

Schedule

Liens

Filters