CPCU 552, CP AND FINAL EXAM TEST |
m m m mm m m m
m 2025 ACTUAL EXAM WITH CORRECT
m m m m
m VERIFIED ANSWERS m
Aircraft have a significant exposure to catastrophe
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losses. Of the many reasons for the catastrophic loss
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m potential of aircraft, the most significant is - ✔✔✔
m m m m m m m m
Correct Answer > The physical properties of
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m aircraft.
Jim is sued for false arrest. He is sued for $500,000.
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Jim is insured under an insurance policy with a
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m liability limit of $300,000, but his policy excludes
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coverage for false arrest. Jim is also insured under
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an umbrella insurance policy with a policy limit of
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m $2,000,000 and self-insured retention (SIR) of $2,000.
m m m m m m
m Which of the following is true in regards to this
m m m m m m m m m
m scenario? A. Jim must pay self-insured retention B.
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,m Jim's umbrella insurance policy will not pay for this
m m m m m m m m
m loss C. Jim's umbrella insurance policy will pay
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m $500,000 for this loss D. Jim must pay a premium
m m m m m m m m m
m for drop gap coverage to apply - ✔✔✔ Correct
m m m m m m m m
m Answer > A) Jim must pay self-insured retention
m m m m m m m
,Which one of the following statements about the
m m m m m m m
m general aggregate limit under a Commercial General
m m m m m m
Liability (CGL) Coverage Form is true?
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- ✔✔✔ Correct Answer > It is reduced by an claims
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paid for medical payments under Coverage C.
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Tom often runs errands for his boss at XYZ
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m Company, using the boss' car. On one of these
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errands, Tom is involved in a serious auto accident.
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m He spends a couple of weeks in the hospital; misses
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four weeks of work; and must undergo physical
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m therapy. Does XYZ's Workers Compensation and
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m Employers Liability Insurance (WC&EL) Policy cover
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m Tom's injuries, lost income, and rehabilitation
m m m m m
m expenses? - ✔✔✔ Correct Answer > Yes, the workers
m m m m m m m m
m compensation policy would pay all of Tom's m m m m m m
m expenses, because his injuries arose out of his
m m m m m m m
m employment at XYZ Company. m m m
A security guard is employed at a pier where
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, m shipping containers are loaded and unloaded from
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m barges. There is also a small marina for pleasure
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craft at the pier. The security guard trips over
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equipment left on a dock alongside a pleasure craft
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m and is injured. The pier only has insurance coverage
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m that provides benefits under the Longshore and
m m m m m m
m Harbor Workers Compensation Act (LHWCA). Is the
m m m m m m
m guard's injury m
m m m mm m m m
m 2025 ACTUAL EXAM WITH CORRECT
m m m m
m VERIFIED ANSWERS m
Aircraft have a significant exposure to catastrophe
m m m m m m
losses. Of the many reasons for the catastrophic loss
m m m m m m m m m
m potential of aircraft, the most significant is - ✔✔✔
m m m m m m m m
Correct Answer > The physical properties of
m m m m m m m
m aircraft.
Jim is sued for false arrest. He is sued for $500,000.
m m m m m m m m m m
Jim is insured under an insurance policy with a
m m m m m m m m m
m liability limit of $300,000, but his policy excludes
m m m m m m m
coverage for false arrest. Jim is also insured under
m m m m m m m m m
an umbrella insurance policy with a policy limit of
m m m m m m m m m
m $2,000,000 and self-insured retention (SIR) of $2,000.
m m m m m m
m Which of the following is true in regards to this
m m m m m m m m m
m scenario? A. Jim must pay self-insured retention B.
m m m m m m m
,m Jim's umbrella insurance policy will not pay for this
m m m m m m m m
m loss C. Jim's umbrella insurance policy will pay
m m m m m m m
m $500,000 for this loss D. Jim must pay a premium
m m m m m m m m m
m for drop gap coverage to apply - ✔✔✔ Correct
m m m m m m m m
m Answer > A) Jim must pay self-insured retention
m m m m m m m
,Which one of the following statements about the
m m m m m m m
m general aggregate limit under a Commercial General
m m m m m m
Liability (CGL) Coverage Form is true?
m m m m m m
- ✔✔✔ Correct Answer > It is reduced by an claims
m m m m m m m m m m
paid for medical payments under Coverage C.
m m m m m m m
Tom often runs errands for his boss at XYZ
m m m m m m m m
m Company, using the boss' car. On one of these
m m m m m m m m
errands, Tom is involved in a serious auto accident.
m m m m m m m m m
m He spends a couple of weeks in the hospital; misses
m m m m m m m m m
four weeks of work; and must undergo physical
m m m m m m m m
m therapy. Does XYZ's Workers Compensation and
m m m m m
m Employers Liability Insurance (WC&EL) Policy cover
m m m m m
m Tom's injuries, lost income, and rehabilitation
m m m m m
m expenses? - ✔✔✔ Correct Answer > Yes, the workers
m m m m m m m m
m compensation policy would pay all of Tom's m m m m m m
m expenses, because his injuries arose out of his
m m m m m m m
m employment at XYZ Company. m m m
A security guard is employed at a pier where
m m m m m m m m
, m shipping containers are loaded and unloaded from
m m m m m m
m barges. There is also a small marina for pleasure
m m m m m m m m
craft at the pier. The security guard trips over
m m m m m m m m m
equipment left on a dock alongside a pleasure craft
m m m m m m m m m
m and is injured. The pier only has insurance coverage
m m m m m m m m
m that provides benefits under the Longshore and
m m m m m m
m Harbor Workers Compensation Act (LHWCA). Is the
m m m m m m
m guard's injury m
