Ownership Inclusions/Exclusions Job Aid
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
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
Do ALL SMS and CCH entries require a note screen entry as to what the entry was?
True
False
You can have an Exclusion and Inclusion entry on the same policy as the same time.
True
False
What Effective Date would we add here?
Effective date of Policy
Effective date of Change
Effective date of Renewal
No Effective Date
Always attach a MSCH to add the name of the person being excluded or included.
True
False
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.
0%
0
0%
0
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
What is the correct Code for the above transaction?
CIN
SMS
CNA
CIE
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