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NO.1 An art history museum has recently finished renovating its new location. Before the move, the
treasurer considers purchasing additional insurance to protect the art during transit. What form of
additional insurance should the treasurer choose?
A. General liability
B. Business interruption
C. Difference in conditions (DIC)
D. Special multi-peril (SMP)
Answer: C
NO.2 A small regional bank is losing market share in fiduciary services and the CEO has decided to
scale back the trust department. Which of the following is considered a core service of a trust
department?
A. Paying agent for dividend and interest payments
B. Providing consulting services in debt origination
C. Monitoring compliance with audit procedures
D. Processing drafts for collection.
Answer: A
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