CPCU 553 Guaranteed A+ Qns
And Ans 2025
The personal auto policy (PAP) definition of your covered auto includes - Answer - Any vehicle shown in
the dec pg, a newly acquired auto, any trailer owned by the named insured, and a temp auto or trailer
Regarding the PAP which one of the following includes details on coverage related to state specific laws
and regulations - Answer - endorsements
An example of an uninsured motor vehicle under the PAP is - Answer - a vehicle which is insured below
the state required minimum limit
The policy territory of the PAP includes the US, ... - Answer - US territories and possessions, Puerto Rico,
and Canada
Name 2 types of compensatory damages - Answer - special and general
An insurer's right to recover payment from a legally liable third party is - Answer - subrogation
An insured covers his owned auto with more than one PAP each from a different insurer. In the event of
a claim for med pmts coverage who would pay - Answer - each insurer pays its pro rata share based on
the proportion that its limit of liability bears to the total of applicable limits
An individuals liability losses - Answer - may consume most of his/hers present assets and future income
Does a PAP cover electronics in the car - Answer - no, unless they're permanently installed
The declarations page of a PAP includes 3 components .. - Answer - 1. Policy period
2. name of the insurer issuing the policy
, 3. name and mailing address of the insured
What is required under additional duties under Part D-PAP - Answer - 1. prevent further loss
2. notify police
3. permit inspection and appraisal
what is the max number of days an insurer will pay for transportation expenses - Answer - 13
Dirk has a restored 1968 Mustang. Dirk has spent a lot of money and time bringing the car back to a like-
new condition. Dirk insures the Mustang under his Personal Auto Policy (PAP) with collision and other
than collision coverages. Dirk can best establish the value of the Mustang with his insurer by attaching
which one of the following endorsements to his PAP? - Answer - coverage for damage to your auto (max
limit of liability)
The Snyder family purchased a three wheel all-terrain vehicle (ATV) for their children to use on an open
field behind their property. Which one of the following endorsements should be attached to the Snyder's
Personal Auto Policy (PAP) to provide liability coverage for the ATV? - Answer - miscellaneous type
vehicle endorsement
Marge and her husband Jack have a Personal Auto Policy (PAP) to cover their two automobiles. Marge
also has a company car provided by her employer. Which one of the following endorsements would best
provide Marge with liability and medical payments coverage for her company car? - Answer - extended
non owner coverage- vehicles furnished or available for regular use endorsement
Which one of the following best describes what is included in a loss payment under the Auto Loan/Lease
Coverage endorsement to the Personal Auto Policy (PAP)? - Answer - the balance of the loan or lease
amount for the vehicle
the public or livery conveyance exclusion endorsement is designed to be attached to all personal auto
policies - Answer - unless one of the ISO transportation network driver endorsements is attached
the transportation network driver coverage (no passenger) endorsement uses the wording of the public
or livery conveyance exclusion and includes an exception that - Answer - covers the share the expense
And Ans 2025
The personal auto policy (PAP) definition of your covered auto includes - Answer - Any vehicle shown in
the dec pg, a newly acquired auto, any trailer owned by the named insured, and a temp auto or trailer
Regarding the PAP which one of the following includes details on coverage related to state specific laws
and regulations - Answer - endorsements
An example of an uninsured motor vehicle under the PAP is - Answer - a vehicle which is insured below
the state required minimum limit
The policy territory of the PAP includes the US, ... - Answer - US territories and possessions, Puerto Rico,
and Canada
Name 2 types of compensatory damages - Answer - special and general
An insurer's right to recover payment from a legally liable third party is - Answer - subrogation
An insured covers his owned auto with more than one PAP each from a different insurer. In the event of
a claim for med pmts coverage who would pay - Answer - each insurer pays its pro rata share based on
the proportion that its limit of liability bears to the total of applicable limits
An individuals liability losses - Answer - may consume most of his/hers present assets and future income
Does a PAP cover electronics in the car - Answer - no, unless they're permanently installed
The declarations page of a PAP includes 3 components .. - Answer - 1. Policy period
2. name of the insurer issuing the policy
, 3. name and mailing address of the insured
What is required under additional duties under Part D-PAP - Answer - 1. prevent further loss
2. notify police
3. permit inspection and appraisal
what is the max number of days an insurer will pay for transportation expenses - Answer - 13
Dirk has a restored 1968 Mustang. Dirk has spent a lot of money and time bringing the car back to a like-
new condition. Dirk insures the Mustang under his Personal Auto Policy (PAP) with collision and other
than collision coverages. Dirk can best establish the value of the Mustang with his insurer by attaching
which one of the following endorsements to his PAP? - Answer - coverage for damage to your auto (max
limit of liability)
The Snyder family purchased a three wheel all-terrain vehicle (ATV) for their children to use on an open
field behind their property. Which one of the following endorsements should be attached to the Snyder's
Personal Auto Policy (PAP) to provide liability coverage for the ATV? - Answer - miscellaneous type
vehicle endorsement
Marge and her husband Jack have a Personal Auto Policy (PAP) to cover their two automobiles. Marge
also has a company car provided by her employer. Which one of the following endorsements would best
provide Marge with liability and medical payments coverage for her company car? - Answer - extended
non owner coverage- vehicles furnished or available for regular use endorsement
Which one of the following best describes what is included in a loss payment under the Auto Loan/Lease
Coverage endorsement to the Personal Auto Policy (PAP)? - Answer - the balance of the loan or lease
amount for the vehicle
the public or livery conveyance exclusion endorsement is designed to be attached to all personal auto
policies - Answer - unless one of the ISO transportation network driver endorsements is attached
the transportation network driver coverage (no passenger) endorsement uses the wording of the public
or livery conveyance exclusion and includes an exception that - Answer - covers the share the expense
