CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL EXAM COMPLETE 140 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
PASS!!
|100% GUARANTEED
Railroad PASS!!
owners commonly require contractors to purchase a Railroad Protective Liability
ANSWERS (VERIFIED
Coverage Form. ANSWERS)
Which one of the following statements about this form is true? - (ANSWER)One
of the coverage limits applies to physical damage to property owned by or leased or entrusted
to the railroad
DETAILED
WhichANSWERS
one of the(VERIFIED
followingANSWERS)
statements|ALREADY
about the GRADED A+
general aggregate limit under a Commercial
|ALREADY GRADED A+
General Liability (CGL) Coverage Form is true? - (ANSWER)It is reduced by an claims paid for
|ALREADY GRADED
medical paymentsA+ under Coverage C.
A+
A+ Tom often runs errands for his boss at XYZ Company, using the boss' car. On one of these
GRADED A+ Tom is involved in a serious auto accident. He spends a couple of weeks in the hospital; 谢谢谢
errands,
A+ misses four weeks of work; and must undergo physical therapy. Does XYZ's Workers 谢
A+ Compensation and Employers Liability Insurance (WC&EL) Policy cover Tom's injuries, lost 谢谢
ANSWERS)
income,|ALREADY GRADED expenses?
and rehabilitation A+ - (ANSWER)Yes, the workers compensation policy would
pay all of Tom's expenses, because his injuries arose out of his employment at XYZ Company.
Aircraft have a significant exposure to catastrophe losses. Of the many reasons for the
catastrophic loss potential of aircraft, the most significant is - (ANSWER)The physical properties
of aircraft.
A security guard is employed at a pier where shipping containers are loaded and unloaded from
barges. There is also a small marina for pleasure craft at the pier. The security guard trips over
equipment left on a dock alongside a pleasure craft and is injured. The pier only has insurance
coverage that provides benefits under the Longshore and Harbor Workers Compensation Act
(LHWCA). Is the guard's injury covered under LHWCA? - (ANSWER)The injury is covered by
LHWCA because the guard is not covered under a state's workers compensation law.
ABC Plumbing entered into a contract with Bill to install a commercial grade septic system on
his property. The installation of the septic septic was time sensitive because the rest of Bill's
construction project could not go forward until the septic system was in place. The contract
required that the work be done within 30 days of contract signing, or ABC would have to pay a
penalty of $1,000 per day. Which one of the following categories of damages does the $1,000
per day penalty specified in the contract fall into? - (ANSWER)Liquidated damages
Many states have funds from which employers may purchase workers compensation insurance.
Such funds may be either - (ANSWER)Competitive or monopolistic
Section II—Who Is an Insured identifies the persons and organizations that qualify as insureds
under the Commercial General Liability (CGL) Coverage Form. Which one of the following
statements regarding who is considered an insured is most accurate? - (ANSWER)When a CGL
policy covers one or more individuals as named insureds, any person or organization having
proper temporary custody of the named insured's property following the named insured's
death is an insured.
What is the name given to a claim by an employee who says that he or she was fired because of
the filing of a workers compensation claim? - (ANSWER)Retaliation claim
,CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL EXAM COMPLETE 140 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
PASS!!
|100% GUARANTEED
Javier's PASS!!
business auto policy contains a personal injury protection (PIP) endorsement. He is
ANSWERS (VERIFIED
involved ANSWERS)
in an auto accident in the covered auto, resulting in $30,000 in property damage,
$5,000 in third-party bodily injury, and $10,000 in personal medical expenses. If Javier's
business auto policy has a general aggregate limit of $100,000 and a PIP limit of $15,000 and he
is at fault for the accident, how much will his insurer pay under the PIP coverage - (ANSWER)PIP
DETAILED ANSWERS
provides (VERIFIED
first-party benefitsANSWERS) |ALREADY
for medical expenses,GRADED A+
loss of income, loss of services, and funeral
|ALREADY GRADED A+
expenses resulting from bodily injury to occupants of a covered auto because of an auto
|ALREADY GRADED
accident. It paysA+regardless of which party was at fault in the accident. Therefore, Javier's
A+ insurer will pay him $10,000 in medical expenses from the PIP coverage. The other damages
A+ will be payable under different coverages available on his policy.
GRADED A+ 谢谢谢
A+ Which one of the following statements about coverage triggers in cyber risk insurance policies 谢
A+ is most accurate? - (ANSWER)Both claims-made coverage triggers and occurrence coverage 谢谢
ANSWERS)
triggers|ALREADY GRADED
are available, A+
but occurrence coverage triggers are more appropriate for some insuring
agreements than for others
According to the Terrorism Risk Insurance Act (TRIA), one of the two required conditions that
an insurer must meet at the time of an initial offer, purchase, and renewal of insurance is the
disclosure of the premium for terrorism coverage. What is the other condition - (ANSWER)A
make-available provision
Acme Insurance cannot agree with insured Jill Jenkins on the amount of a covered physical
damage loss under Jill's Business Auto Coverage Form. Jill requested an appraisal. Acme and Jill
each appoint an appraiser, and the appraisers appoint an umpire. An award in writing signed by
any two of the three binds both Acme and Jill. One appraiser and the umpire ruled for Jill and
against Acme. Which one of the following statements is true regarding this scenario? -
(ANSWER)Jill and Acme will share the cost of the umpire.
Matthew Jones, the named insured under an unendorsed Business Auto Coverage Form (BACF),
requires his employees to use their own cars for business purposes. One of Matthew's
employees, Paul, causes an accident while driving his own truck for the business. Matthew's
BACF shows symbol 1 for liability coverage. Which one of the following correctly indicates
whether Paul is an insured under the policy for the accident? - (ANSWER)Paul is not covered
because employees are not insured while using their own autos in the named insured's
business.
ABC Corporation is insured under a standard unendorsed workers compensation policy for only
the state of Florida. Three months before the present policy began, ABC opened a sales office in
Georgia due to business volume growing in that state. ABC failed to report the new location and
new state at policy inception. The manager of the Georgia office fell and was injured and
missed work for three weeks after the inception of the ABC policy. The manager made claim for
Georgia benefits. Which one of the following is true regarding ABC's coverage for Georgia
benefits? - (ANSWER)Coverage for this claim would not be covered by ABC's insurance.
The claims-made trigger in a site specific environmental impairment liability policy differs in
three ways from the trigger in other claims-made liability policies. Which one of the following
best describes one of those three ways? - (ANSWER)A site-specific environmental impairment
, CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL EXAM COMPLETE 140 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
PASS!!
|100% GUARANTEED
liability PASS!!does not have a retroactive date.
policy typically
ANSWERS (VERIFIED ANSWERS)
The Grey Corporation has a Commercial General Liability Coverage Form with the following
limits:
Each Occurrence $1,000,000
DETAILED
Damage ANSWERS
to rented (VERIFIED
premisesANSWERS) |ALREADY
$100,000 each GRADED A+
occurrence
|ALREADY GRADED A+
Medical expense $5,000 any one person
|ALREADY
PersonalGRADED A+
and advertising injury $1,000,000 any one person or organization
A+ General aggregate limit $2,000,000
A+ Product/completed operations aggregate limit $2,000,000
GRADED A+ the policy is written on an occurrence basis, how much of the general aggregate limit, 谢谢谢
Assuming
A+ if any, remains if the following claims have been paid under the policy? 谢
A+ a premises/operations liability claim of $600,000 谢谢
ANSWERS) |ALREADY
a products liabilityGRADED
claim of A+
$1,200,000
$3,000 of medical expenses to a customer injured on the premises.
a personal and advertising injury liability claim of $300,000 - (ANSWER)The general aggregate is
reduced by any amounts paid under Coverages A, B, and C, except for those that arise out of
products/completed operations. Therefore, the general aggregate limit is reduced by $600,000
+ $3,000 + $300,000 = $903,000. This leaves $1,097,000 of the general aggregate limit
remaining.
An example of liability imposed by statute is - (ANSWER)Workers compensation.
n July of 2010 the Dodd-Frank Act was passed in response to the public's demand for
improvements in financial systems and to curb abusive Wall Street practices. A significant
provision of the Dodd-Frank Act was the - (ANSWER)Abolishment of the Troubled Asset Relief
Program (TARP).
The supplemental payments section of the Commercial General Liability coverage form is most
correctly defined as - (ANSWER)The supplemental payments section of the Commercial General
Liability coverage form is most correctly defined as specified costs the insurer will pay as part of
any claim the insurer investigates or defends under Coverage A or B
Excess liability policies - (ANSWER)Do not provide coverage for exposures not covered in
primary policies.
Part Two of the Workers Compensation and Employers Liability Policy (WC&EL) is the
employers liability portion of the policy. Under this portion of the policy the insurer would pay
for - (ANSWER)Common law liability for occupational injury to employees,
Some state no-fault laws preserve the tort system but require insurers to offer personal injury
protection (PIP) insurance that provides specified first-party benefits. This is referred to as -
(ANSWER)An add-on no-fault law.
Loss reduction techniques are intended to reduce the - (ANSWER)Severity of losses.
Tom and Jerry own a General Motors vehicle dealership, and they have purchased an Auto
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
PASS!!
|100% GUARANTEED
Railroad PASS!!
owners commonly require contractors to purchase a Railroad Protective Liability
ANSWERS (VERIFIED
Coverage Form. ANSWERS)
Which one of the following statements about this form is true? - (ANSWER)One
of the coverage limits applies to physical damage to property owned by or leased or entrusted
to the railroad
DETAILED
WhichANSWERS
one of the(VERIFIED
followingANSWERS)
statements|ALREADY
about the GRADED A+
general aggregate limit under a Commercial
|ALREADY GRADED A+
General Liability (CGL) Coverage Form is true? - (ANSWER)It is reduced by an claims paid for
|ALREADY GRADED
medical paymentsA+ under Coverage C.
A+
A+ Tom often runs errands for his boss at XYZ Company, using the boss' car. On one of these
GRADED A+ Tom is involved in a serious auto accident. He spends a couple of weeks in the hospital; 谢谢谢
errands,
A+ misses four weeks of work; and must undergo physical therapy. Does XYZ's Workers 谢
A+ Compensation and Employers Liability Insurance (WC&EL) Policy cover Tom's injuries, lost 谢谢
ANSWERS)
income,|ALREADY GRADED expenses?
and rehabilitation A+ - (ANSWER)Yes, the workers compensation policy would
pay all of Tom's expenses, because his injuries arose out of his employment at XYZ Company.
Aircraft have a significant exposure to catastrophe losses. Of the many reasons for the
catastrophic loss potential of aircraft, the most significant is - (ANSWER)The physical properties
of aircraft.
A security guard is employed at a pier where shipping containers are loaded and unloaded from
barges. There is also a small marina for pleasure craft at the pier. The security guard trips over
equipment left on a dock alongside a pleasure craft and is injured. The pier only has insurance
coverage that provides benefits under the Longshore and Harbor Workers Compensation Act
(LHWCA). Is the guard's injury covered under LHWCA? - (ANSWER)The injury is covered by
LHWCA because the guard is not covered under a state's workers compensation law.
ABC Plumbing entered into a contract with Bill to install a commercial grade septic system on
his property. The installation of the septic septic was time sensitive because the rest of Bill's
construction project could not go forward until the septic system was in place. The contract
required that the work be done within 30 days of contract signing, or ABC would have to pay a
penalty of $1,000 per day. Which one of the following categories of damages does the $1,000
per day penalty specified in the contract fall into? - (ANSWER)Liquidated damages
Many states have funds from which employers may purchase workers compensation insurance.
Such funds may be either - (ANSWER)Competitive or monopolistic
Section II—Who Is an Insured identifies the persons and organizations that qualify as insureds
under the Commercial General Liability (CGL) Coverage Form. Which one of the following
statements regarding who is considered an insured is most accurate? - (ANSWER)When a CGL
policy covers one or more individuals as named insureds, any person or organization having
proper temporary custody of the named insured's property following the named insured's
death is an insured.
What is the name given to a claim by an employee who says that he or she was fired because of
the filing of a workers compensation claim? - (ANSWER)Retaliation claim
,CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL EXAM COMPLETE 140 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
PASS!!
|100% GUARANTEED
Javier's PASS!!
business auto policy contains a personal injury protection (PIP) endorsement. He is
ANSWERS (VERIFIED
involved ANSWERS)
in an auto accident in the covered auto, resulting in $30,000 in property damage,
$5,000 in third-party bodily injury, and $10,000 in personal medical expenses. If Javier's
business auto policy has a general aggregate limit of $100,000 and a PIP limit of $15,000 and he
is at fault for the accident, how much will his insurer pay under the PIP coverage - (ANSWER)PIP
DETAILED ANSWERS
provides (VERIFIED
first-party benefitsANSWERS) |ALREADY
for medical expenses,GRADED A+
loss of income, loss of services, and funeral
|ALREADY GRADED A+
expenses resulting from bodily injury to occupants of a covered auto because of an auto
|ALREADY GRADED
accident. It paysA+regardless of which party was at fault in the accident. Therefore, Javier's
A+ insurer will pay him $10,000 in medical expenses from the PIP coverage. The other damages
A+ will be payable under different coverages available on his policy.
GRADED A+ 谢谢谢
A+ Which one of the following statements about coverage triggers in cyber risk insurance policies 谢
A+ is most accurate? - (ANSWER)Both claims-made coverage triggers and occurrence coverage 谢谢
ANSWERS)
triggers|ALREADY GRADED
are available, A+
but occurrence coverage triggers are more appropriate for some insuring
agreements than for others
According to the Terrorism Risk Insurance Act (TRIA), one of the two required conditions that
an insurer must meet at the time of an initial offer, purchase, and renewal of insurance is the
disclosure of the premium for terrorism coverage. What is the other condition - (ANSWER)A
make-available provision
Acme Insurance cannot agree with insured Jill Jenkins on the amount of a covered physical
damage loss under Jill's Business Auto Coverage Form. Jill requested an appraisal. Acme and Jill
each appoint an appraiser, and the appraisers appoint an umpire. An award in writing signed by
any two of the three binds both Acme and Jill. One appraiser and the umpire ruled for Jill and
against Acme. Which one of the following statements is true regarding this scenario? -
(ANSWER)Jill and Acme will share the cost of the umpire.
Matthew Jones, the named insured under an unendorsed Business Auto Coverage Form (BACF),
requires his employees to use their own cars for business purposes. One of Matthew's
employees, Paul, causes an accident while driving his own truck for the business. Matthew's
BACF shows symbol 1 for liability coverage. Which one of the following correctly indicates
whether Paul is an insured under the policy for the accident? - (ANSWER)Paul is not covered
because employees are not insured while using their own autos in the named insured's
business.
ABC Corporation is insured under a standard unendorsed workers compensation policy for only
the state of Florida. Three months before the present policy began, ABC opened a sales office in
Georgia due to business volume growing in that state. ABC failed to report the new location and
new state at policy inception. The manager of the Georgia office fell and was injured and
missed work for three weeks after the inception of the ABC policy. The manager made claim for
Georgia benefits. Which one of the following is true regarding ABC's coverage for Georgia
benefits? - (ANSWER)Coverage for this claim would not be covered by ABC's insurance.
The claims-made trigger in a site specific environmental impairment liability policy differs in
three ways from the trigger in other claims-made liability policies. Which one of the following
best describes one of those three ways? - (ANSWER)A site-specific environmental impairment
, CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL EXAM COMPLETE 140 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
PASS!!
|100% GUARANTEED
liability PASS!!does not have a retroactive date.
policy typically
ANSWERS (VERIFIED ANSWERS)
The Grey Corporation has a Commercial General Liability Coverage Form with the following
limits:
Each Occurrence $1,000,000
DETAILED
Damage ANSWERS
to rented (VERIFIED
premisesANSWERS) |ALREADY
$100,000 each GRADED A+
occurrence
|ALREADY GRADED A+
Medical expense $5,000 any one person
|ALREADY
PersonalGRADED A+
and advertising injury $1,000,000 any one person or organization
A+ General aggregate limit $2,000,000
A+ Product/completed operations aggregate limit $2,000,000
GRADED A+ the policy is written on an occurrence basis, how much of the general aggregate limit, 谢谢谢
Assuming
A+ if any, remains if the following claims have been paid under the policy? 谢
A+ a premises/operations liability claim of $600,000 谢谢
ANSWERS) |ALREADY
a products liabilityGRADED
claim of A+
$1,200,000
$3,000 of medical expenses to a customer injured on the premises.
a personal and advertising injury liability claim of $300,000 - (ANSWER)The general aggregate is
reduced by any amounts paid under Coverages A, B, and C, except for those that arise out of
products/completed operations. Therefore, the general aggregate limit is reduced by $600,000
+ $3,000 + $300,000 = $903,000. This leaves $1,097,000 of the general aggregate limit
remaining.
An example of liability imposed by statute is - (ANSWER)Workers compensation.
n July of 2010 the Dodd-Frank Act was passed in response to the public's demand for
improvements in financial systems and to curb abusive Wall Street practices. A significant
provision of the Dodd-Frank Act was the - (ANSWER)Abolishment of the Troubled Asset Relief
Program (TARP).
The supplemental payments section of the Commercial General Liability coverage form is most
correctly defined as - (ANSWER)The supplemental payments section of the Commercial General
Liability coverage form is most correctly defined as specified costs the insurer will pay as part of
any claim the insurer investigates or defends under Coverage A or B
Excess liability policies - (ANSWER)Do not provide coverage for exposures not covered in
primary policies.
Part Two of the Workers Compensation and Employers Liability Policy (WC&EL) is the
employers liability portion of the policy. Under this portion of the policy the insurer would pay
for - (ANSWER)Common law liability for occupational injury to employees,
Some state no-fault laws preserve the tort system but require insurers to offer personal injury
protection (PIP) insurance that provides specified first-party benefits. This is referred to as -
(ANSWER)An add-on no-fault law.
Loss reduction techniques are intended to reduce the - (ANSWER)Severity of losses.
Tom and Jerry own a General Motors vehicle dealership, and they have purchased an Auto
