CPCU 551, Chapter 9 Exam | Questions with 100%
Correct Answers | Verified | Latest Update
2026/2027
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Terms in this set (10)
Which one of these is not an element An act committed by only one person
of the Commercial Crime Coverage
Form's definition of occurrence?
ABC Brokerage Company (ABC) is It will pay the lesser of what would be covered
covered by an Insurance Services under the present insurance or the prior insurance
Office (ISO) Commercial Crime if it had remained in effect
Coverage Form written on a loss
sustained basis. The policy was
written to replace an identical policy
with another insurer that had expired,
and there was no lapse in coverage.
ABC recently discovered a covered
loss that occurred during the prior
insurer's policy term. Which one of
the following would be true for the
current insurer?
, A bank discovered that electronic An unendorsed form would not cover this loss. The
data had been tampered with and bank would only be covered if it had a Destruction
filed a claim under the bank's ISO of Electronic Data or Computer Programs
Commercial Crime Coverage Form endorsement.
for the resulting damage to the data.
It was suspected that a disgruntled
employee had tampered with the
computer files and created a virus.
Which one of the following
statements describes whether this
loss would be covered?
The Delicious Restaurant suffered a Delicious would receive $4,500 and the insurer
covered money loss under its ISO $6,500
Commercial Crime Coverage Form.
The form had a limit of $10,000. The
value of the loss was $14,500. The
insurer paid the policy limit. After
paying the $10,000 policy limit, the
insurer recovered $11,000 of the
stolen money. Ignoring any
deductibles that might apply, what
dollar amount of covered property, if
any, would go to Delicious
Restaurant and to the insurer?
Correct Answers | Verified | Latest Update
2026/2027
Save
Terms in this set (10)
Which one of these is not an element An act committed by only one person
of the Commercial Crime Coverage
Form's definition of occurrence?
ABC Brokerage Company (ABC) is It will pay the lesser of what would be covered
covered by an Insurance Services under the present insurance or the prior insurance
Office (ISO) Commercial Crime if it had remained in effect
Coverage Form written on a loss
sustained basis. The policy was
written to replace an identical policy
with another insurer that had expired,
and there was no lapse in coverage.
ABC recently discovered a covered
loss that occurred during the prior
insurer's policy term. Which one of
the following would be true for the
current insurer?
, A bank discovered that electronic An unendorsed form would not cover this loss. The
data had been tampered with and bank would only be covered if it had a Destruction
filed a claim under the bank's ISO of Electronic Data or Computer Programs
Commercial Crime Coverage Form endorsement.
for the resulting damage to the data.
It was suspected that a disgruntled
employee had tampered with the
computer files and created a virus.
Which one of the following
statements describes whether this
loss would be covered?
The Delicious Restaurant suffered a Delicious would receive $4,500 and the insurer
covered money loss under its ISO $6,500
Commercial Crime Coverage Form.
The form had a limit of $10,000. The
value of the loss was $14,500. The
insurer paid the policy limit. After
paying the $10,000 policy limit, the
insurer recovered $11,000 of the
stolen money. Ignoring any
deductibles that might apply, what
dollar amount of covered property, if
any, would go to Delicious
Restaurant and to the insurer?
