CPCU 553, Chapter 4 Exam | Questions with 100%
Correct Answers | Verified | Latest Update
2026/2027
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Terms in this set (14)
Following an auto accident, Jim's While a forty-eight-hour waiting period applies to
vehicle was towed to a body shop, total theft losses under OTC coverage, a twenty-
and it remained there for five days four-hour waiting period applies to loss by other
for repairs. The damage was covered perils under both collision and OTC.
under the collision coverage of Jim's
Personal Auto Policy (PAP). During
those five days, Jim used public
transportation at a cost of $5.00 per
day. What amount will Jim's insurer
pay under his PAP for his
transportation expenses while his
vehicle was being repaired?
The conditions under which the If the policy period is less than six months, the
insurer can nonrenew a Personal insurer has the right to nonrenew every six months,
Auto Policy (PAP) vary according to beginning six months after the policy's original
the length of the policy period. If the effective date.
policy period is less than six months,
the insurer
, In addition to general duties under a Promptly notify police if a covered auto is stolen
Personal Auto Policy (PAP), a person
seeking coverage under Part D—
Coverage for Damage to Your Auto
must perform additional duties.
Which one of the following is one of
these additional duties?
Which one of the following Insurers can usually cancel a new policy that has
statements is true regarding been in force for less than a certain number of days
cancellation of the Personal Auto (such as sixty days).
Policy (PAP
John has a Personal Auto Policy 5 + 10 - 2 = 13. A forty-eight-hour waiting period
(PAP) with both collision and other applies to total theft losses under OTC coverage.
than collision coverages. While John
was working out at the gym, his car
was stolen from the parking lot. The
police recovered John's car five days
later, but it had been damaged.
John's car was in the shop ten days
for repairs. For what number of days
will John's insurer pay him for
transportation expenses?
Correct Answers | Verified | Latest Update
2026/2027
Save
Terms in this set (14)
Following an auto accident, Jim's While a forty-eight-hour waiting period applies to
vehicle was towed to a body shop, total theft losses under OTC coverage, a twenty-
and it remained there for five days four-hour waiting period applies to loss by other
for repairs. The damage was covered perils under both collision and OTC.
under the collision coverage of Jim's
Personal Auto Policy (PAP). During
those five days, Jim used public
transportation at a cost of $5.00 per
day. What amount will Jim's insurer
pay under his PAP for his
transportation expenses while his
vehicle was being repaired?
The conditions under which the If the policy period is less than six months, the
insurer can nonrenew a Personal insurer has the right to nonrenew every six months,
Auto Policy (PAP) vary according to beginning six months after the policy's original
the length of the policy period. If the effective date.
policy period is less than six months,
the insurer
, In addition to general duties under a Promptly notify police if a covered auto is stolen
Personal Auto Policy (PAP), a person
seeking coverage under Part D—
Coverage for Damage to Your Auto
must perform additional duties.
Which one of the following is one of
these additional duties?
Which one of the following Insurers can usually cancel a new policy that has
statements is true regarding been in force for less than a certain number of days
cancellation of the Personal Auto (such as sixty days).
Policy (PAP
John has a Personal Auto Policy 5 + 10 - 2 = 13. A forty-eight-hour waiting period
(PAP) with both collision and other applies to total theft losses under OTC coverage.
than collision coverages. While John
was working out at the gym, his car
was stolen from the parking lot. The
police recovered John's car five days
later, but it had been damaged.
John's car was in the shop ten days
for repairs. For what number of days
will John's insurer pay him for
transportation expenses?
