CPCU 552,
CPCUCP&L 552, CP&L FINAL EXAM
FINAL ACTUAL EXAM QUESTIONS WITH
EXAM
COMPLETE
Study onlineSOLUTION GUIDE (A+ GRADED 100% VERIFIED) LATEST
at https://quizlet.com/_hd2j6e
VERSION 2025!!
1. Railroad owners commonly require contractors to One of the coverage limits ap-
purchase a Railroad Protective Liability Coverage plies to physical damage to
Form. Which one of the following statements about property owned by or leased
this form is true? or entrusted to the railroad
2. Which one of the following statements about the It is reduced by an claims paid
general aggregate limit under a Commercial Gen- for medical payments under
eral Liability (CGL) Coverage Form is true? Coverage C.
3. Tom often runs errands for his boss at XYZ Com- Yes, the workers compensation
pany, using the boss' car. On one of these errands, policy would pay all of Tom's
Tom is involved in a serious auto accident. He expenses, because his injuries
spends a couple of weeks in the hospital; misses arose out of his employment at
four weeks of work; and must undergo physical XYZ Company.
therapy. Does XYZ's Workers Compensation and
Employers Liability Insurance (WC&EL) Policy cover
Tom's injuries, lost income, and rehabilitation ex-
penses?
4. Aircraft have a significant exposure to catastrophe The physical properties of air-
losses. Of the many reasons for the catastrophic craft.
loss potential of aircraft, the most significant is
5. A security guard is employed at a pier where ship- The injury is covered by LHWCA
ping containers are loaded and unloaded from because the guard is not cov-
barges. There is also a small marina for pleasure ered under a state's workers
craft at the pier. The security guard trips over equip- compensation law.
ment 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?
, CPCU 552, CP&L FINAL EXAM
Study online at https://quizlet.com/_hd2j6e
6. ABC Plumbing entered into a contract with Bill to Liquidated damages
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?
7. Many states have funds from which employers may Competitive or monopolistic
purchase workers compensation insurance. Such
funds may be either
8. Section II—Who Is an Insured identifies the per- When a CGL policy covers one
sons and organizations that qualify as insureds un- or more individuals as named
der the Commercial General Liability (CGL) Cover- insureds, any person or orga-
age Form. Which one of the following statements nization having proper tempo-
regarding who is considered an insured is most rary custody of the named in-
accurate? sured's property following the
named insured's death is an
insured.
9. What is the name given to a claim by an employee Retaliation claim
who says that he or she was fired because of the
filing of a workers compensation claim?
10. Javier's business auto policy contains a personal PIP provides first-party bene-
injury protection (PIP) endorsement. He is involved fits for medical expenses, loss
in an auto accident in the covered auto, resulting in of income, loss of services,
$30,000 in property damage, $5,000 in third-party and funeral expenses result-
, CPCU 552, CP&L FINAL EXAM
Study online at https://quizlet.com/_hd2j6e
bodily injury, and $10,000 in personal medical ex- ing from bodily injury to oc-
penses. If Javier's business auto policy has a gen- cupants of a covered auto be-
eral aggregate limit of $100,000 and a PIP limit of cause of an auto accident. It
$15,000 and he is at fault for the accident, how pays regardless of which par-
much will his insurer pay under the PIP coverage ty was at fault in the acci-
dent. Therefore, Javier's insur-
er will pay him $10,000 in
medical expenses from the PIP
coverage. The other damages
will be payable under different
coverages available on his pol-
icy.
11. Which one of the following statements about cov- Both claims-made coverage
erage triggers in cyber risk insurance policies is triggers and occurrence cover-
most accurate? age triggers are available, but
occurrence coverage triggers
are more appropriate for some
insuring agreements than for
others
12. According to the Terrorism Risk Insurance Act A make-available provision
(TRIA), one of the two required conditions that an
insurer must meet at the time of an initial offer, pur-
chase, and renewal of insurance is the disclosure
of the premium for terrorism coverage. What is the
other condition
13. Acme Insurance cannot agree with insured Jill Jenk- Jill and Acme will share the cost
ins on the amount of a covered physical damage of the umpire.
loss under Jill's Business Auto Coverage Form. Jill
requested an appraisal. Acme and Jill each appoint
, CPCU 552, CP&L FINAL EXAM
Study online at https://quizlet.com/_hd2j6e
an appraiser, and the appraisers appoint an um-
pire. 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?
14. Matthew Jones, the named insured under an un- Paul is not covered because
endorsed Business Auto Coverage Form (BACF), employees are not insured
requires his employees to use their own cars for while using their own autos in
business purposes. One of Matthew's employees, the named insured's business.
Paul, causes an accident while driving his own truck
for the business. Matthew's BACF shows symbol 1
for liability coverage. Which one of the following
correctly indicates whether Paul is an insured un-
der the policy for the accident?
15. ABC Corporation is insured under a standard unen- Coverage for this claim would
dorsed workers compensation policy for only the not be covered by ABC's insur-
state of Florida. Three months before the present ance.
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 cover-
age for Georgia benefits?
16. The claims-made trigger in a site specific environ- A site-specific environmental
mental impairment liability policy differs in three impairment liability policy typ-
CPCUCP&L 552, CP&L FINAL EXAM
FINAL ACTUAL EXAM QUESTIONS WITH
EXAM
COMPLETE
Study onlineSOLUTION GUIDE (A+ GRADED 100% VERIFIED) LATEST
at https://quizlet.com/_hd2j6e
VERSION 2025!!
1. Railroad owners commonly require contractors to One of the coverage limits ap-
purchase a Railroad Protective Liability Coverage plies to physical damage to
Form. Which one of the following statements about property owned by or leased
this form is true? or entrusted to the railroad
2. Which one of the following statements about the It is reduced by an claims paid
general aggregate limit under a Commercial Gen- for medical payments under
eral Liability (CGL) Coverage Form is true? Coverage C.
3. Tom often runs errands for his boss at XYZ Com- Yes, the workers compensation
pany, using the boss' car. On one of these errands, policy would pay all of Tom's
Tom is involved in a serious auto accident. He expenses, because his injuries
spends a couple of weeks in the hospital; misses arose out of his employment at
four weeks of work; and must undergo physical XYZ Company.
therapy. Does XYZ's Workers Compensation and
Employers Liability Insurance (WC&EL) Policy cover
Tom's injuries, lost income, and rehabilitation ex-
penses?
4. Aircraft have a significant exposure to catastrophe The physical properties of air-
losses. Of the many reasons for the catastrophic craft.
loss potential of aircraft, the most significant is
5. A security guard is employed at a pier where ship- The injury is covered by LHWCA
ping containers are loaded and unloaded from because the guard is not cov-
barges. There is also a small marina for pleasure ered under a state's workers
craft at the pier. The security guard trips over equip- compensation law.
ment 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?
, CPCU 552, CP&L FINAL EXAM
Study online at https://quizlet.com/_hd2j6e
6. ABC Plumbing entered into a contract with Bill to Liquidated damages
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?
7. Many states have funds from which employers may Competitive or monopolistic
purchase workers compensation insurance. Such
funds may be either
8. Section II—Who Is an Insured identifies the per- When a CGL policy covers one
sons and organizations that qualify as insureds un- or more individuals as named
der the Commercial General Liability (CGL) Cover- insureds, any person or orga-
age Form. Which one of the following statements nization having proper tempo-
regarding who is considered an insured is most rary custody of the named in-
accurate? sured's property following the
named insured's death is an
insured.
9. What is the name given to a claim by an employee Retaliation claim
who says that he or she was fired because of the
filing of a workers compensation claim?
10. Javier's business auto policy contains a personal PIP provides first-party bene-
injury protection (PIP) endorsement. He is involved fits for medical expenses, loss
in an auto accident in the covered auto, resulting in of income, loss of services,
$30,000 in property damage, $5,000 in third-party and funeral expenses result-
, CPCU 552, CP&L FINAL EXAM
Study online at https://quizlet.com/_hd2j6e
bodily injury, and $10,000 in personal medical ex- ing from bodily injury to oc-
penses. If Javier's business auto policy has a gen- cupants of a covered auto be-
eral aggregate limit of $100,000 and a PIP limit of cause of an auto accident. It
$15,000 and he is at fault for the accident, how pays regardless of which par-
much will his insurer pay under the PIP coverage ty was at fault in the acci-
dent. Therefore, Javier's insur-
er will pay him $10,000 in
medical expenses from the PIP
coverage. The other damages
will be payable under different
coverages available on his pol-
icy.
11. Which one of the following statements about cov- Both claims-made coverage
erage triggers in cyber risk insurance policies is triggers and occurrence cover-
most accurate? age triggers are available, but
occurrence coverage triggers
are more appropriate for some
insuring agreements than for
others
12. According to the Terrorism Risk Insurance Act A make-available provision
(TRIA), one of the two required conditions that an
insurer must meet at the time of an initial offer, pur-
chase, and renewal of insurance is the disclosure
of the premium for terrorism coverage. What is the
other condition
13. Acme Insurance cannot agree with insured Jill Jenk- Jill and Acme will share the cost
ins on the amount of a covered physical damage of the umpire.
loss under Jill's Business Auto Coverage Form. Jill
requested an appraisal. Acme and Jill each appoint
, CPCU 552, CP&L FINAL EXAM
Study online at https://quizlet.com/_hd2j6e
an appraiser, and the appraisers appoint an um-
pire. 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?
14. Matthew Jones, the named insured under an un- Paul is not covered because
endorsed Business Auto Coverage Form (BACF), employees are not insured
requires his employees to use their own cars for while using their own autos in
business purposes. One of Matthew's employees, the named insured's business.
Paul, causes an accident while driving his own truck
for the business. Matthew's BACF shows symbol 1
for liability coverage. Which one of the following
correctly indicates whether Paul is an insured un-
der the policy for the accident?
15. ABC Corporation is insured under a standard unen- Coverage for this claim would
dorsed workers compensation policy for only the not be covered by ABC's insur-
state of Florida. Three months before the present ance.
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 cover-
age for Georgia benefits?
16. The claims-made trigger in a site specific environ- A site-specific environmental
mental impairment liability policy differs in three impairment liability policy typ-
