Ownership Inclusions/Exclusions Job Aid

Create an informative infographic showing a flowchart of coverage exclusions and inclusions for different business types like LLC, Sole Proprietorship, and Corporations, featuring icons representing different roles such as officers and board members in a professional style.

Ownership Inclusions/Exclusions Quiz

This quiz is designed to test your knowledge and understanding of ownership inclusions and exclusions in various insurance policies. Gain insight into how different roles and job positions impact coverage requirements within your organization.

Multiple choice questions
Immediate feedback on your answers
Perfect for professionals in insurance and business management

13 Questions3 MinutesCreated by AssessingExpert27

Coverage for officers, sole proprietors, and executive officers should not be written if there are no other employees.

True

False

If the rejection of coverage form is received after the effective date and there was intent to exclude officers, Officer payroll will be removed back to the effective date unless state statute mandates otherwise

True

False

Which of these do NOT require an exclusion form or MSCH screen?

Corporations with voluntary board members

Voluntary board members on a Religious Organization policies

Condominium Associations/Homeowner Associations

All the above

If the current payroll amount on the policy is $100,000, what would it be after processing this endorsement?

70,000

30,000

29,000

All of the Above

What Effective Date would we add here?

Effective date of Policy

Effective date of Change

Effective date of Renewal

No Effective Date

What Code would you use in the Transaction Field for a request to add or exclude with NO premium transaction?

CIN

SMS

CIE

CNA

When making changes to the corporate officers/ LLC members midterm, The effective date goes under the XN or IN on the MSCH SCREEN.

True

False

In Texas Sole proprietors, partners, LLC members and executive officers are excluded unless they elect to be included in coverage by endorsement to the policy or certificate of authority to self-insure.

True

False

Which line would you use to adjust payroll information if you are excluding an officer who was previously included?

LINE 1

LINE 2

LINE 3

Ownership Inclusions/Exclusions Job Aid

Ownership Inclusions/Exclusions Quiz

More Quizzes