49 CFR §387.5 — what it says, and how the exam tests it

§ 387.5 Definitions. As used in this subpart— Accident includes continuous or repeated exposure to the same conditions resulting in public liability which the insured neither expected nor intended. Bodily injury means injury to the body, sickness, or disease including death resulting from any of these. Cancellation of insurance means the withdrawal of insurance coverage by either the insurer or the insured. Endorsement means an amendment to an insurance policy. Environmental restoration means restitution for the loss, damage, or destruction of natural resources arising out of the accidental discharge, dispersal, release or escape into or upon the land, atmosphere, watercourse, or body of water of any commodity transported by a motor carrier. This shall include the cost of removal and the cost of necessary measure taken to minimize or mitigate damage to human health, the natural environment, fish, shellfish, and wildlife. Evidence of security means a surety bond or a policy of insurance with the appropriate endorsement attached. Financial responsibility means the financial reserves (e.g., insurance policies or surety bonds) sufficient to satisfy liability amounts set forth in this subpart covering public liability. For-hire carriage means the business of transporting, for compensation, the goods or property of another. In bulk means the transportation, as cargo, of property, except Division 1.1, 1.2, or 1.3 materials, and Division 2.3, Hazard Zone A gases, in containment systems with capacities in excess of 3500 water gallons. In bulk (Division 1.1, 1.2, and 1.3 explosives) means the transportation, as cargo, of any Division 1.1, 1.2, or 1.3 materials in any quantity. In bulk (Division 2.3, Hazard Zone A or Division 6.1, Packing Group I, Hazard Zone A materials) means the transportation, as cargo, of any Division 2.3, Hazard Zone A, or Division 6.1, packing Group I, Hazard Zone A material, in any quantity. Insured and principal means the motor carrier named in the policy of insurance, surety bond, endorsement, or notice of cancellation, and also the fiduciary of such motor carrier. Insurance premium means the monetary sum an insured pays an insurer for acceptance of liability for public liability claims made against the insured. Motor carrier means a for-hire motor carrier or a private motor carrier. The term includes, but is not limited to, a motor…