CPCU 551: ASSIGNMENT 1 EXAM 100%
CORRECT LATEST UPDATE.
, 1.1 3 common sources of property coverage for commerical entities - ANSWER1.
Insurance Services Office, INC (ISO) 2. Building and Personal Property Coverage Form
(BPP) 3. Business Income Coverage Forms (BIC)
1.1
BPP Form - ANSWERBuilding and Personal Property Coverage Form Provides
coverage for buildings, business personal property, and the personal property of others.
1.1
Would manufaturing equipment and finished clothing (stock) stored in Garmentville's
warehouse be considered covered forms of business personal property under the BPP?
- ANSWERYes, unless specifically excluded.
1.1
BPP provides additional coverages and coverage extensions for... - ANSWERdebris
removal, preservation of propety, fire department service charges, pollutant cleanup and
removal, increased cost of construction, electronic data, new property, personal effects,
property of others, valuable records, and nonowned detatched trailers.
1.1
Most organizations use insurance as... - ANSWERa risk control technique to pay for
losses.
1.1 What techniques could businesses use to reduce risk of loss from fire? -
ANSWER1. Separate heat sources from fuels 2. Install fire detection and suppression
systems
1.1 What techniques could businesses use to reduce risk of loss from explosion? -
ANSWER1. Explosion suppressors 2. Proper storage, use, and maintenance and
inspection of expllosive materials and equipment
1.1
What techniques could businesses use to reduce risk of loss from windstorm? -
ANSWER1. Design structures to withstand strong winds 2. Add storm shutters and
blinds for windows 3. Secure material and equipment outside facility 4. Place trees and
utility poles away from structures
1.1 What techniques could businesses use to reduce risk of loss from water? -
ANSWER1. Sensor that detect the presence of water 2. Shut off source of water 3.
Notify building management
1.1
CORRECT LATEST UPDATE.
, 1.1 3 common sources of property coverage for commerical entities - ANSWER1.
Insurance Services Office, INC (ISO) 2. Building and Personal Property Coverage Form
(BPP) 3. Business Income Coverage Forms (BIC)
1.1
BPP Form - ANSWERBuilding and Personal Property Coverage Form Provides
coverage for buildings, business personal property, and the personal property of others.
1.1
Would manufaturing equipment and finished clothing (stock) stored in Garmentville's
warehouse be considered covered forms of business personal property under the BPP?
- ANSWERYes, unless specifically excluded.
1.1
BPP provides additional coverages and coverage extensions for... - ANSWERdebris
removal, preservation of propety, fire department service charges, pollutant cleanup and
removal, increased cost of construction, electronic data, new property, personal effects,
property of others, valuable records, and nonowned detatched trailers.
1.1
Most organizations use insurance as... - ANSWERa risk control technique to pay for
losses.
1.1 What techniques could businesses use to reduce risk of loss from fire? -
ANSWER1. Separate heat sources from fuels 2. Install fire detection and suppression
systems
1.1 What techniques could businesses use to reduce risk of loss from explosion? -
ANSWER1. Explosion suppressors 2. Proper storage, use, and maintenance and
inspection of expllosive materials and equipment
1.1
What techniques could businesses use to reduce risk of loss from windstorm? -
ANSWER1. Design structures to withstand strong winds 2. Add storm shutters and
blinds for windows 3. Secure material and equipment outside facility 4. Place trees and
utility poles away from structures
1.1 What techniques could businesses use to reduce risk of loss from water? -
ANSWER1. Sensor that detect the presence of water 2. Shut off source of water 3.
Notify building management
1.1
