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CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL
EXAM COMPLETE 140 QUESTIONS AND CORRECT
DETAILED ANSWERS WITH RATIONALES (VERIFIED
ANSWERS) |ALREADY GRADED A+||LATEST EXAM
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? - Answer-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? - 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
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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.
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
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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
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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.
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
CPCU 552, CP&L FINAL EXAM NEWEST 2025 ACTUAL
EXAM COMPLETE 140 QUESTIONS AND CORRECT
DETAILED ANSWERS WITH RATIONALES (VERIFIED
ANSWERS) |ALREADY GRADED A+||LATEST EXAM
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? - Answer-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? - 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
,2|Page
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.
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
,3|Page
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
, 4|Page
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.
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
