CPCU 552, CP&L FINAL EXAMLatest Exam Test
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Terms in this set (140)
Railroad owners One of the coverage limits applies to physical
commonly require damage to property owned by or leased or entrusted
contractors to purchase a to the railroad
Railroad Protective
Liability Coverage Form.
Which one of the
following statements
about this form is true?
Which one of the It is reduced by an claims paid for medical payments
following statements under Coverage C.
about the general
aggregate limit under a
Commercial General
Liability (CGL) Coverage
Form is true?
,Tom often runs errands for Yes, the workers compensation policy would pay all
his boss at XYZ Company, of Tom's expenses, because his injuries arose out of
using the boss' car. On his employment at XYZ Company.
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?
Aircraft have a significant The physical properties of aircraft.
exposure to catastrophe
losses. Of the many
reasons for the
catastrophic loss potential
of aircraft, the most
significant is
,A security guard is The injury is covered by LHWCA because the guard is
employed at a pier where not covered under a state's workers compensation
shipping containers are law.
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?
, ABC Plumbing entered Liquidated damages
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?
Many states have funds Competitive or monopolistic
from which employers
may purchase workers
compensation insurance.
Such funds may be either
Bank 2025 With Real Exam Prep Questions And
Correct Answers | CPCU Test 2025 | CPCU
Save
Terms in this set (140)
Railroad owners One of the coverage limits applies to physical
commonly require damage to property owned by or leased or entrusted
contractors to purchase a to the railroad
Railroad Protective
Liability Coverage Form.
Which one of the
following statements
about this form is true?
Which one of the It is reduced by an claims paid for medical payments
following statements under Coverage C.
about the general
aggregate limit under a
Commercial General
Liability (CGL) Coverage
Form is true?
,Tom often runs errands for Yes, the workers compensation policy would pay all
his boss at XYZ Company, of Tom's expenses, because his injuries arose out of
using the boss' car. On his employment at XYZ Company.
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?
Aircraft have a significant The physical properties of aircraft.
exposure to catastrophe
losses. Of the many
reasons for the
catastrophic loss potential
of aircraft, the most
significant is
,A security guard is The injury is covered by LHWCA because the guard is
employed at a pier where not covered under a state's workers compensation
shipping containers are law.
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?
, ABC Plumbing entered Liquidated damages
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?
Many states have funds Competitive or monopolistic
from which employers
may purchase workers
compensation insurance.
Such funds may be either
