CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL
EXAM COMPLETE 140 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+||BRAND NEW VERSION!!
Which one of the following statements about the general
aggregate limit under a Commercial General Liability (CGL)
Coverage Form is true? - ANSWER--It is reduced by an claims
paid for medical payments under Coverage C.
Tom often runs errands for his boss at XYZ Company, using the
boss' car. On one of these errands, Tom is involved in a serious
auto accident. He spends a couple of weeks in the hospital;
misses four weeks of work; and must undergo physical therapy.
Does XYZ's Workers Compensation and Employers Liability
Insurance (WC&EL) Policy cover Tom's injuries, lost income, and
rehabilitation expenses? - ANSWER--Yes, the workers
compensation policy would pay all of Tom's expenses, because
his injuries arose out of his employment at XYZ Company.
Railroad owners commonly require contractors to purchase a
Railroad Protective Liability Coverage Form. 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
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.
,CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL
EXAM COMPLETE 140 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+||BRAND NEW VERSION!!
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
,CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL
EXAM COMPLETE 140 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+||BRAND NEW VERSION!!
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
Javier's business auto policy contains a personal injury protection
(PIP) endorsement. He is involved 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 provides first-party benefits for
medical expenses, loss of income, loss of services, and funeral
expenses resulting from bodily injury to occupants of a covered
auto because of an auto accident. It pays regardless of which
party was at fault in the accident. Therefore, Javier's insurer will
pay him $10,000 in medical expenses from the PIP coverage. The
other damages will be payable under different coverages
available on his policy.
, CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL
EXAM COMPLETE 140 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+||BRAND NEW VERSION!!
Which one of the following statements about coverage triggers in
cyber risk insurance policies is most accurate? - ANSWER--Both
claims-made coverage triggers and occurrence coverage triggers
are available, 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
EXAM COMPLETE 140 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+||BRAND NEW VERSION!!
Which one of the following statements about the general
aggregate limit under a Commercial General Liability (CGL)
Coverage Form is true? - ANSWER--It is reduced by an claims
paid for medical payments under Coverage C.
Tom often runs errands for his boss at XYZ Company, using the
boss' car. On one of these errands, Tom is involved in a serious
auto accident. He spends a couple of weeks in the hospital;
misses four weeks of work; and must undergo physical therapy.
Does XYZ's Workers Compensation and Employers Liability
Insurance (WC&EL) Policy cover Tom's injuries, lost income, and
rehabilitation expenses? - ANSWER--Yes, the workers
compensation policy would pay all of Tom's expenses, because
his injuries arose out of his employment at XYZ Company.
Railroad owners commonly require contractors to purchase a
Railroad Protective Liability Coverage Form. 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
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.
,CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL
EXAM COMPLETE 140 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+||BRAND NEW VERSION!!
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
,CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL
EXAM COMPLETE 140 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+||BRAND NEW VERSION!!
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
Javier's business auto policy contains a personal injury protection
(PIP) endorsement. He is involved 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 provides first-party benefits for
medical expenses, loss of income, loss of services, and funeral
expenses resulting from bodily injury to occupants of a covered
auto because of an auto accident. It pays regardless of which
party was at fault in the accident. Therefore, Javier's insurer will
pay him $10,000 in medical expenses from the PIP coverage. The
other damages will be payable under different coverages
available on his policy.
, CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL
EXAM COMPLETE 140 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+||BRAND NEW VERSION!!
Which one of the following statements about coverage triggers in
cyber risk insurance policies is most accurate? - ANSWER--Both
claims-made coverage triggers and occurrence coverage triggers
are available, 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
