A person with the responsibility of taking bank securities to a sister bank every morning would be known as which of the following?
messenger, any person who has care and custody of property outside the premises.
At a trade show, a plumbing supplier discovers it has accepted payment for its new line of faucets in the form of counterfeit money orders. Under which Commercial Crime insuring agreement would this loss be covered?
Money Orders and Counterfeit Money, insuring agreement covers the insured's acceptance in good faith of money orders and counterfeit money received in exchange for merchandise or services during the course of conducting regular business activities
A travel agency discovers that it has been charged for payments to a print shop drawn on checks written by an unknown third party masquerading as the travel agency comptroller. Under which Commercial Crime insuring agreement would this loss be covered?
Forgery/Alteration, insures against the forgery or alteration of checks, drafts, promissory notes, and similar items regarding the payment of a sum of money that are made or drawn by the insured or someone acting on behalf of the insured
Which of the following could be a 'custodian' under the terms of a commercial crime property policy?
Partner
Which of the following is not included in the definition of Money under Commercial Crime Coverage?
Evidence of debt
Under a Commercial Crime policy written on a Loss Sustained Form, what is the latest date that a covered loss can be discovered?
1 year following policy expiration
Which of the following losses would be covered by a commercial crime policy?
Vandalism occurring in the course of a burglary
A wine store discovers that someone has vandalized their display shelves, causing $1,500 in damage to inventory. Further inspection reveals evidence of forcible entry to the store safe, causing another $500 in damage, and the loss of $5,000 in currency. H
$7k
In which capacity would a bank teller have the responsibility of taking bank securities to a sister bank every morning?
Messenger
Which of the following would not be covered by a commercial crime policy with an extortion endorsement?
A bank teller has a chance to report a threat to coworkers or the police, but declines to do so before the ransom is paid
Which of the following is true regarding commercial crime?
Theft includes any act of stealing, including burglary and robbery
The Commercial Crime policy Form A for Employee Theft would not cover which of the following?
An employee alters a bonus check to read $1,000 instead of $100
Which of the following crime forms requires the use of a Retroactive Date?
Discovery Form, covers losses that are discovered during the policy period but did not necessarily occur during the policy period. Claims-made and occurrence forms are used with Commercial General Liability policies
During a company golf retreat, the property of several guests is stolen from the golf resort's safe deposit boxes. Under the resort's commercial crime policy, which insuring agreement or endorsement would pay for this loss?
Guests' Property
After noticing the disappearance of office supplies from within a private office facility, which coverage might an insured add to a commercial crime policy?
Employee theft/dishonesty
A sandwich shop discovers that someone has vandalized their customer bathrooms, causing $2,500 in damage. Under the shop's commercial crime policy, which insuring agreement or endorsement would pay for this loss?
The insured would need to file a claim for this loss under their commercial property or businessowners policy
The Discovery Form covers losses that are:
Discovered during the policy period, regardless of when they occurred
Which of the following terms best describes the crime of taking of property from inside the premises or a locked safe or vault by a person who commits forcible entry?
Burglary
An insured's employee who has custody and care of property inside the premises is called a:
Custodian
How many days after an employee's termination by an insured would a crime loss committed by the former employee be covered under a Commercial Crime policy?
a person remains an employee for a period of 30 days after termination
After Company B's computer network is damaged during an intrusion by hackers, which coverage would indemnify the loss?
No crime coverage is available for this loss
A consumer electronics business discovers that someone has used computer software to fabricate security passes, which were then used to gain access to their warehouse and steal several cases of smart phones. Under which Commercial Crime insuring agreement
Computer Fraud
Under a Commercial Crime Coverage Form, which of the following is not included in the definition of money?
Evidence of Debt
Which of the following is a necessary element of robbery?
A face to face confrontation
Which of the following is an example of burglary?
The taking of property by a person who hid inside a storeroom during the day and broke a window to get out at night
Loss of money due to a fraudulent instruction to a bank to pay funds would be covered under which crime insuring agreement?
Fund Transfer Fraud
An employee carrying documents detailing his employer's trade secrets is assaulted and robbed of the documents on his way to a meeting. Which Commercial Crime insuring agreement would cover the loss?
Outside the Premises
In order for a commercial crime loss to be covered under a Discovery Form, the loss must:
Be discovered during the policy period
The Inside The Premises Theft of Money and Securities insuring agreement will cover all of the following losses, except:
Attempted robbery of a custodian
If a messenger has insured property stolen by a pickpocket on a subway, this is an example of what kind of crime?
Theft
A commercial crime policy form written with the Robbery or Safe Burglary of Other Property insuring agreement would cover which of the following?
Jewelry store windows and glass display cases are destroyed during a burglary
Under a Commercial Crime policy written on a discovery form, what is the latest date that a covered loss can be discovered?
The policy expiration date
Which of the following is not covered by commercial crime insurance?
The mysterious disappearance of property
Which of the following types of property would be covered by the Guests' Property endorsement to a commercial crime policy?
Property stored in a hotel safety deposit box by someone renting a room
Property stolen from inside the premises by a person forcibly entering or leaving the premises is considered which type of crime?
Burglary
principal difference between burglary and other forms of dishonesty, is that burglary involves the forcible entry into or exit from premises from which money or property is taken (t/f)
TRUE