20. All the following are classes of property typically covered under commercial

Question

20. All the following are classes of property typically covered under commercial crime forms

EXCEPT

A. money

B. intangible property

C. tangible property other than money and securities

D. securities

21. Among the insurance policies provided for your review by your client, Taylor, is a personal auto policy with a loss payable clause that names Porcine Bank as a loss payee. Based on this information, all the following statements concerning this situation are correct EXCEPT:

A. Porcine Bank will be notified if Taylor's policy is canceled.

B. Porcine Bank is obligated to pay the premium on this policy if Taylor misses a payment.

C. Taylor received a loan or lease from Porcine Bank when the car was acquired.

D. Taylor's policy includes coverage for Porcine Bank's interest in the car.

Explanation / Answer

20) (b) intangible property as commercial crime formscovers money, securities, and other property against a variety of criminal acts, such as employee theft, robbery, forgery, extortion and computer fraud

21) D. Taylor's policy includes coverage for Porcine Bank's interest in the car.

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