CPCU 552 COMPREHENSIVE EXAM 2026 QUESTIONS
AND SOLUTIONS RATED A+
✔✔What is a site-specific environmental impairment liability policy? - ✔✔Same thing as
a PPL. Third-party claim arising from pre-existing or a release on site.
✔✔What is beneficial about a property transfer policy? - ✔✔Usually written for seven to
10 years. At Chubb it is a PLL with an extended reported period
✔✔What is a remediation stop-loss policy? - ✔✔A policy purchased for remediation
costs that exceed the projected costs of performing environmental cleanup of a location
being sold
✔✔What is a secured creditor policy? - ✔✔When the insured has defaulted a loan and
their is an environmental condition at a site-specific location. No BI of PD
✔✔What is the difference between strict liability, intentional tort, negligence, and
contractual liability? - ✔✔1. Negligence= failure to exercise the legally required degree
of care
2. Intentional tort= nuisance and trespass
3. Strict liability= the elimination of common-law defenses with super hazardous things
4. contractual liability= when a hold-harmless agreement is involved
✔✔For Marine liability what are the 3 categories? - ✔✔1.) Injury: to crew, other persons
on and not on board the vessel
2.) Property Damage: to other vessels and their cargoes and other structures
3.) Pollution: OPA of 1990 a federal law that does not supercede individual state laws
✔✔What are the two main insurance marine policies? - ✔✔1.) Protection and
Indemnity= P&I= BI, PD to other vessels and defense
2.) Hull Insurance= damage to insured vessel
✔✔terminal operator marine liability - ✔✔the temporary possession by one party of
personal property owned by another party for a specific purpose
✔✔marina operators liability policy - ✔✔liability for damage to boats of customers in the
care, custody or control of the marina operator.
✔✔What are the 4 categories pilots are rated on? - ✔✔1. Purpose of use
2.) Type of aircraft
3.) Pilot (age and experience)
4.) Geography
✔✔what are the 6 exposures to auto liability? - ✔✔1.) Owned autos
, 2.) Hired autos
3.) Borrowed autos
4.) Employee's operation of autos
5.) By contract
6.) By bailment
✔✔What is the difference between general average and particular average when it
comes to marine liability? - ✔✔General average is split among a group while particular
average is a partial loss by only one party
✔✔what is a bareboat in marine insurance? - ✔✔A charterer that agrees to be
responsible for actually operating and insuring the vessel
✔✔Define:
1.) Marine builders risk
2.) Ship repairers liability
3.) Terminal operators
4.) Marina operators liability
5.) boat dealers
6.) charterers liability - ✔✔1.) Property coverage for a vessel under construction or
during trial trips and delivery
2.) For vessels under repair for the repairer
3.) Bailee coverage for vessels and cargo
4.) Coverage for customers' boats in the care, custody, and control of a marina operator
5.) Property coverage for pleasure crafts held for sale
6.) Coverage for voyage and time chaterers
✔✔where do the 3 major categories of risk in cyber come from? - ✔✔1.) Property
2.) Net Income
3.) Liability
✔✔what is the difference between an electronic media and data protection insuring
agreement? - ✔✔Data is when the database is corrupted. Media is when it is a media
leak
✔✔What is the difference between a cyber extortion loss and a cyber crime loss? -
✔✔Extortion is stealing stuff and asking for money. A crime is simple just stealing
✔✔What are the limits in cyber? - ✔✔Can be blanket
✔✔What are the important things about TRIPRA 2015? - ✔✔1.) Congress does not
need to declare it an act of war
2.) It must result in at least a $5M aggregate lost
3.) Must result in damage in the US
AND SOLUTIONS RATED A+
✔✔What is a site-specific environmental impairment liability policy? - ✔✔Same thing as
a PPL. Third-party claim arising from pre-existing or a release on site.
✔✔What is beneficial about a property transfer policy? - ✔✔Usually written for seven to
10 years. At Chubb it is a PLL with an extended reported period
✔✔What is a remediation stop-loss policy? - ✔✔A policy purchased for remediation
costs that exceed the projected costs of performing environmental cleanup of a location
being sold
✔✔What is a secured creditor policy? - ✔✔When the insured has defaulted a loan and
their is an environmental condition at a site-specific location. No BI of PD
✔✔What is the difference between strict liability, intentional tort, negligence, and
contractual liability? - ✔✔1. Negligence= failure to exercise the legally required degree
of care
2. Intentional tort= nuisance and trespass
3. Strict liability= the elimination of common-law defenses with super hazardous things
4. contractual liability= when a hold-harmless agreement is involved
✔✔For Marine liability what are the 3 categories? - ✔✔1.) Injury: to crew, other persons
on and not on board the vessel
2.) Property Damage: to other vessels and their cargoes and other structures
3.) Pollution: OPA of 1990 a federal law that does not supercede individual state laws
✔✔What are the two main insurance marine policies? - ✔✔1.) Protection and
Indemnity= P&I= BI, PD to other vessels and defense
2.) Hull Insurance= damage to insured vessel
✔✔terminal operator marine liability - ✔✔the temporary possession by one party of
personal property owned by another party for a specific purpose
✔✔marina operators liability policy - ✔✔liability for damage to boats of customers in the
care, custody or control of the marina operator.
✔✔What are the 4 categories pilots are rated on? - ✔✔1. Purpose of use
2.) Type of aircraft
3.) Pilot (age and experience)
4.) Geography
✔✔what are the 6 exposures to auto liability? - ✔✔1.) Owned autos
, 2.) Hired autos
3.) Borrowed autos
4.) Employee's operation of autos
5.) By contract
6.) By bailment
✔✔What is the difference between general average and particular average when it
comes to marine liability? - ✔✔General average is split among a group while particular
average is a partial loss by only one party
✔✔what is a bareboat in marine insurance? - ✔✔A charterer that agrees to be
responsible for actually operating and insuring the vessel
✔✔Define:
1.) Marine builders risk
2.) Ship repairers liability
3.) Terminal operators
4.) Marina operators liability
5.) boat dealers
6.) charterers liability - ✔✔1.) Property coverage for a vessel under construction or
during trial trips and delivery
2.) For vessels under repair for the repairer
3.) Bailee coverage for vessels and cargo
4.) Coverage for customers' boats in the care, custody, and control of a marina operator
5.) Property coverage for pleasure crafts held for sale
6.) Coverage for voyage and time chaterers
✔✔where do the 3 major categories of risk in cyber come from? - ✔✔1.) Property
2.) Net Income
3.) Liability
✔✔what is the difference between an electronic media and data protection insuring
agreement? - ✔✔Data is when the database is corrupted. Media is when it is a media
leak
✔✔What is the difference between a cyber extortion loss and a cyber crime loss? -
✔✔Extortion is stealing stuff and asking for money. A crime is simple just stealing
✔✔What are the limits in cyber? - ✔✔Can be blanket
✔✔What are the important things about TRIPRA 2015? - ✔✔1.) Congress does not
need to declare it an act of war
2.) It must result in at least a $5M aggregate lost
3.) Must result in damage in the US
