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!!
Railroad owners commonly require contractors to purchase a Railroad Protective
Liability Coverage Form. Which one of the following statements about this form is
true? - answerOne of the coverage limits applies to physical damage to property
owned by or leased or entrusted to the railroad
Which one of the following statements about the general aggregate limit under a
Commercial General Liability (CGL) Coverage Form is true? - answerIt 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? - answerYes, 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 - answerThe
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? - answerThe 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? - answerLiquidated damages
Many states have funds from which employers may purchase workers
compensation insurance. Such funds may be either - answerCompetitive 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? - answerWhen 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? - answerRetaliation
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
EXAM COMPLETE 140 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY
GRADED A+||BRAND NEW VERSION!!
Railroad owners commonly require contractors to purchase a Railroad Protective
Liability Coverage Form. Which one of the following statements about this form is
true? - answerOne of the coverage limits applies to physical damage to property
owned by or leased or entrusted to the railroad
Which one of the following statements about the general aggregate limit under a
Commercial General Liability (CGL) Coverage Form is true? - answerIt 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? - answerYes, 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 - answerThe
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? - answerThe 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? - answerLiquidated damages
Many states have funds from which employers may purchase workers
compensation insurance. Such funds may be either - answerCompetitive 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? - answerWhen 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? - answerRetaliation
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
