1. Identify which is the trigger for the Loss Sustained Form vs. the Discovery Form.

a. Coverage is triggered when a loss has occurred during the policy period AND is discovered during the policy period or the Extended Period to Discover Loss (usually one year).

b. Coverage is triggered for a loss that occurred at any time, AND it has to be discovered during the policy period or the Extended Period to Discover Loss (usually 60 days).

2. Indicate which of the following are true or false in regard to Insuring Agreement A.1. Employee Theft under an unendorsed Commercial Crime Policy.

a. Employee theft covers loss committed by an employee while acting alone for money and securities only.

b. Other property as defined; applies to tangible property other than money and securities.

c. The definition of employees includes seasonal, short-term or leased employees.

d. Employee Theft Name Or Position Schedule CR 04 08 can be used to apply coverage to either the named employee or the person who occupies a named position.

3. Which of the following statements is true in regard to coverage under all Insuring Agreements including Employee Theft under an unendorsed Commercial Crime Policy?

a. Coverage includes the payment of costs, fees or other expenses the named insured incurs in establishing the existence of an employee theft loss.

b. Coverage excludes the payment of costs, fees or other expenses the named insured incurs in establishing the existence or the amount of loss.

c. Coverage includes loss from virtual currency, such as bitcoin, since it fits the definition of money, securities, and other property.

d. Coverage excludes loss from inventory shortages as a result of employee theft.

4. Indicate which of the following are true or false under an unendorsed Commercial Crime Policy.

a. Insuring Agreement A.2. Forgery or Alteration provides coverage for alteration of electronic data in a computer program that results in the unlawful taking of funds.

b. Insuring Agreement A.3. Inside The Premises Theft Of Money And Securities includes coverage for the theft, disappearance or destruction of money and securities.

c. Burglary under Insuring Agreement A.4. Inside The Premises Robbery Or Safe Burglary Of Other Property is defined as the unlawful taking of property from the care and custody of a person who has caused or threatened to cause bodily harm or committed an obviously unlawful act witnessed by that person.

d. Under Insuring Agreement A.5. Outside The Premises, loss of money outside the premises in the care and custody of a messenger resulting directly from theft, disappearance or destruction is covered.

e. Under Insuring Agreement A.6. Computer and Funds Transfer Fraud, loss from a fraudulent change of electronic data (hacker incident) that causes the transfer of money, securities or other property is covered.

f. Insuring Agreement A.7. Money Orders and Counterfeit Money provides coverage for loss resulting from the acceptance of money orders or counterfeit money in exchange for merchandise, money or services.

5. Which of the following statements is true in regard to the unendorsed Commercial Crime Policy?

a. Loss covered by more than one Insuring Agreement will be limited to the smallest limit available.

b. The time period for the named insured to discover loss is unlimited under Condition g. Extended Period To Discover Loss.

c. The Coverage Territory for all Insuring Agreements is worldwide.

d. Insuring Agreement A.1. Employee Theft terminates coverage for any employee as soon as the named insured learns of any dishonest act or theft by that employee.