CISR Commercial Property study guide
CISR Commercial Property · Work through your exam, one topic at a time.
Insuring Commercial Property is one of nine one-day courses in the Certified Insurance Service Representative (CISR) program, a nationally recognized educational program directed at the customer service representative role in an agency. The course is an intermediate-level offering that assumes some working knowledge of the applicable policies, and it focuses on minimizing errors and omissions claims through solid understanding and analysis of risks and exposures. The CISR Commercial Property study guide has 5 sections and about 2,203 words.
01Fundamentals of Commercial Property Insurance
This domain tests whether you can read a commercial property program the way an underwriter does: identify the insured's insurable interest, classify property into the right coverage, choose valuation and coinsurance, and apply the policy's common conditions. Commercial property is exposure-driven: the named insured must have an insurable interest at the time of loss, but need not own the property.
412 words, about 2 min02Building and Personal Property Coverage Form
This domain tests the three coverages, the built-in additional coverages and extensions, their default limits, and the loss conditions that decide how much is paid. Coverage A - Building covers the described building and structures, completed additions, fixtures, permanently installed machinery and equipment, outdoor fixtures, and personal property used to service the building (fire pumps, HVAC).
443 words, about 2 min03Causes of Loss Forms
This domain tests which perils each causes of loss form covers, how exclusions interact with ensuing loss, and when an endorsement is needed. Named perils: fire, lightning, explosion, windstorm or hail, smoke, aircraft or vehicles, riot or civil commotion, vandalism, sprinkler leakage, sinkhole collapse, and volcanic action.
417 words, about 2 min04Basics of Time Element Insurance
This domain tests business income, extra expense, the period of restoration, coinsurance options, and the extensions that continue income after repairs. Business Income (CP 00 30) covers the net income the business would have earned plus continuing normal operating expenses, including payroll, during the period of restoration.
454 words, about 2 min05Basics of Commercial Inland Marine Insurance
This domain tests what inland marine covers, the Nationwide Marine Definition categories, the major commercial forms, and the features that separate inland marine from commercial property. Commercial inland marine covers property that moves or is in the hands of others - "floaters." The NAIC Nationwide Marine Definition recognizes four groups: imports/exports, domestic shipments, instrumentalities of transportation and communication (bridges, tunnels, pipelines, transmission towers), and personal property floater risks, including commercial property floaters.
477 words, about 2 min