CP&L FINAL EXAM AND PRACTICE EXAM QUESTIONS 2025 NEWEST
ACTUAL EXAM COMPLETE EXAM QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY
GRADED A+
Railroad owners commonly require contractors to purchase a Railroad Protective Liability
Coverage Form. Which one of the following statements about this form is true? - (answers)One
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? - (answers)It is reduced by an claims paid for
medical payments under Coverage C.
心的坚强决定了我们的命运。当
我们面对挫折时，是一颗不屈的
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;
心让我们勇敢前行
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? - (answers)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 - (answers)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? - (answers)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? - (answers)Liquidated damages
Many states have funds from which employers may purchase workers compensation insurance.
Such funds may be either - (answers)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? - (answers)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.
心的坚强决定了我们的命运。当
我们面对挫折时，是一颗不屈的
What is the name given to a claim by an employee who says that he or she was fired because of
心让我们勇敢前行
the filing of a workers compensation claim? - (answers)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 - (answers)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.
Which one of the following statements about coverage triggers in cyber risk insurance policies is
most accurate? - (answers)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 - (answers)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? -
(answers)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
心的坚强决定了我们的命运。当
symbol 1 for liability coverage. Which one of the following correctly indicates whether Paul is
an insured under the policy for the我们面对挫折时，是一颗不屈的
accident? - (answers)Paul is not covered because employees
are not insured while using their own autos in the named insured's business.
心让我们勇敢前行
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? -
(answers)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? - (answers)A site-specific environmental impairment
liability policy typically does not have a retroactive date.
The Grey Corporation has a Commercial General Liability Coverage Form with the following
limits:
, Each Occurrence $1,000,000
Damage to rented premises $100,000 each occurrence
Medical expense $5,000 any one person
Personal and advertising injury $1,000,000 any one person or organization
General aggregate limit $2,000,000
Product/completed operations aggregate limit $2,000,000
Assuming the policy is written on an occurrence basis, how much of the general aggregate limit,
if any, remains if the following claims have been paid under the policy?
a premises/operations liability claim of $600,000
a products liability claim of $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 - (answers)The general aggregate is
reduced by any amounts paid under Coverages A, B, and C, except for those that arise out of
心的坚强决定了我们的命运。当
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.
我们面对挫折时，是一颗不屈的
心让我们勇敢前行
An example of liability imposed by statute is - (answers)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 - (answers)Abolishment of the Troubled Asset Relief
Program (TARP).
The supplemental payments section of the Commercial General Liability coverage form is most
correctly defined as - (answers)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 - (answers)Do not provide coverage for exposures not covered in
primary policies.
ACTUAL EXAM COMPLETE EXAM QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY
GRADED A+
Railroad owners commonly require contractors to purchase a Railroad Protective Liability
Coverage Form. Which one of the following statements about this form is true? - (answers)One
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? - (answers)It is reduced by an claims paid for
medical payments under Coverage C.
心的坚强决定了我们的命运。当
我们面对挫折时，是一颗不屈的
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;
心让我们勇敢前行
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? - (answers)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 - (answers)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? - (answers)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? - (answers)Liquidated damages
Many states have funds from which employers may purchase workers compensation insurance.
Such funds may be either - (answers)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? - (answers)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.
心的坚强决定了我们的命运。当
我们面对挫折时，是一颗不屈的
What is the name given to a claim by an employee who says that he or she was fired because of
心让我们勇敢前行
the filing of a workers compensation claim? - (answers)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 - (answers)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.
Which one of the following statements about coverage triggers in cyber risk insurance policies is
most accurate? - (answers)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 - (answers)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? -
(answers)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
心的坚强决定了我们的命运。当
symbol 1 for liability coverage. Which one of the following correctly indicates whether Paul is
an insured under the policy for the我们面对挫折时，是一颗不屈的
accident? - (answers)Paul is not covered because employees
are not insured while using their own autos in the named insured's business.
心让我们勇敢前行
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? -
(answers)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? - (answers)A site-specific environmental impairment
liability policy typically does not have a retroactive date.
The Grey Corporation has a Commercial General Liability Coverage Form with the following
limits:
, Each Occurrence $1,000,000
Damage to rented premises $100,000 each occurrence
Medical expense $5,000 any one person
Personal and advertising injury $1,000,000 any one person or organization
General aggregate limit $2,000,000
Product/completed operations aggregate limit $2,000,000
Assuming the policy is written on an occurrence basis, how much of the general aggregate limit,
if any, remains if the following claims have been paid under the policy?
a premises/operations liability claim of $600,000
a products liability claim of $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 - (answers)The general aggregate is
reduced by any amounts paid under Coverages A, B, and C, except for those that arise out of
心的坚强决定了我们的命运。当
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.
我们面对挫折时，是一颗不屈的
心让我们勇敢前行
An example of liability imposed by statute is - (answers)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 - (answers)Abolishment of the Troubled Asset Relief
Program (TARP).
The supplemental payments section of the Commercial General Liability coverage form is most
correctly defined as - (answers)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 - (answers)Do not provide coverage for exposures not covered in
primary policies.
