NURSING TEST

CPCU 500 Practice Exam - Assignment 4 Questions & Answers East Side Manufacturing has over 50 sales managers located around the country who drive company cars. Harry, the risk manager, has noted that this exposure is generating a frequency of losses for workers compensation, auto liability, and physical damage to the autos. Harry is considering various risk control techniques. Which one of the following is a loss prevention technique that should help East Side Manufacturing reduce the frequency...

CPCU 500 Chapter 1 Questions & Answers The rise of big data and predictive analytics will Select one: A. Reduce the frequency of losses but not the severity of losses. B. Eliminate the frequency and severity of losses. C. Increase the frequency and severity of losses. D. Reduce the frequency and severity of losses, but won't eliminate them. D. Reduce the frequency and severity of losses, but won't eliminate them. Which one of the following best illustrates the benefit of insu...

CPCU 551 Questions and Answers An example of an administrative expense that can minimize the cost of risk is Risk management consulting The availability of funds to pay for losses is most important to organizations when Operations have been disrupted Brainpower Read More A self-supporting solid wall that prevents a fire from passing through or around it is a Fire wall A building with concrete exterior walls and wooden support beams as defined by Insurance Services Of...

CPCU 520 Questions and Answers Which one of the following insurer goals creates a conflict between the profit goal and customer needs goal? Comply with legal requirements Which one of the following statements is true with regard to the various forms of ownership of property-casualty insurers? State and federal governments provide insurance for exposures that are significant but not commercially insurable. Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute...

CPCU 551 - Chapter 7 Questions and Answers business income insurance Insurance that covers the reduction in an organization's income when operations are interrupted by damage to property caused by a covered peril net income the difference between total revenue and total expenses when total revenue is greater Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More profit net income that results when revenu...

CPCU 551 - Chapter 8 Questions and Answers To resolve the disputes between fire underwriters and marine underwriters, insurance regulators in 1933 introduced the Nationwide Marine Definition. It restricted marine insurers to covering the loss exposures included in the Definition. Today, the Definition continues to be used for classification purposes and remains useful in determining the types of insurance that are exempt from filing requirements. Explain the historical and modern purpose of th...

CPCU 530 Applying Legal Concepts to Insurance Questions & Answers Elements of a legally binding contract -Agreement (includes the offer and acceptance) -Capacity (or competence) of all involved parties -Mutual assent -Consideration -Legal purpose -Proper, legally required form -pg. 1.4 Offeror The party to a contract who promises to give something in return for a promise or an act by another party -pg. 1.4 Previous Play Next Rewind 10 seconds Move forward 10 seconds...

CPCU 500 - Identifying and Analyzing Costly Risks 3.2 Questions and Answers Incorporating individuals from multiple areas of an organization into the risk identification process can __________ bring more risks to light as well as reveal how those risks are interconnected Effective team approaches to identifying risks include? 1) Facilitated workshops, 2) The Delphi technique, 3) Scenario analysis, 4) HAZOP (hazard and operability study), 5) SWOT (strengths, weaknesses, oppo...

CPCU Exam 1 Questions and Answers Probability The likelihood that an outcome or event will occur Risk Uncertainty about outcomes, with the possibility that some outcomes can be negative Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:08 / 0:15 Full screen Brainpower Read More Pure Risk A chance of loss or no loss, but no chance of gain Speculative Risk A chance of loss, no loss, or gain Credit Risk The risk that customers or o...

CPCU 530 Test questions & Answers True -If the jurisdiction of the federal courts is based on diversity of citizenship, the subject matter of the dispute may be which state's law applies Judical Branch -is charged with deciding if another branch of government has the power to enact a new law Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:05 / 0:15 Full screen Brainpower Read More Complaint -This must include a requested remedy Rule...

Final Practice Exam - CPCU 540 Questions and Answers Sean owns a retail men's clothing store. After a recent fire, the insurance adjuster requested copies of the store's most recent financial statements. The adjuster is more likely to use the statements to Estimate the inventory on hand at the dat of the loss Why is it so important for a corporation to adopt a code of ethics? A code of ethics provides a means of actively managing ethics in the workplace 0:28 / 1:27 5 ...

CPCU 500 EXAM 3 Questions & Answers To accurately determine its level of risk, an organization must examine the effectiveness of its efforts to prevent losses from occurring and to reduce the severity of losses that do occur. An organization's efforts in this area are called Risk control After a month in which three employees were seriously injured at company paper mills, Ashley, the risk manager of Bright White Paper Company, wanted some answers about the causes of employee injuries...

CPCU 551 - Chapter 4 Questions & Answers Blanket Insurance Insurance that covers either of the following with one limit of insurance: (1) one type of property in one or more separately rated buildings or (2) two or more types of property in one or more separately rated buildings. A disadvantage of blanket insurance is that the minimum coinsurance percentage is ____% 90% Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:06 / 0:15 Full screen Brainp...

CPCU 500 Questions and Answers insurtech the use of emerging technologies in the insurance industry connected ecosystem The emerging technologies applied to risk assessment and control link the physical domain to the virtual domain. Together, these domains linked by the emerging technologies create a Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More mechanical sensors pressure sensors, flow sensors, mo...

CPCU 500 Exam 5 Questions and Answers The risk control measures used to protect people and property from the adverse effects of hostile fires are collectively called Fire safety. Joe owns a small stock brokerage, Zoran Company. He also serves as a director and pension fund fiduciary at Zoran Company. Most of the pension fund at Zoran Company is invested in the company's own stock. When Zoran starts having financial troubles, the price of the stock goes down. Various brokers at Joe...

CPCU Exam 4 Questions and Answers An advantage of a large deductible plan is that it allows the insured organization to Benefit from the cash flow available on the retained loss reserves. A state wants to build a road through an environmentally-sensitive area. The area includes endangered flora and fauna, as well as wetlands. Build-Rite Construction expressed interest in the project, but is concerned about potential liability. Build-Rite agrees to build the road if the state assumes all...

CPCU 520 Final Exam Questions and Answers What is the formula for the GAAP method for determining return on equity Net Income / Average Owners Equity State insurance departments enforce insurance laws enacted by the state legislature Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More What are the underwriting profitability functions of an insurer? guarding against adverse selection, ensuring adequate po...

CPCU 500 - Full Practice Exam Questions & Solutions In order to achieve collaboration, group leaders must A. Remain focused on achieving the goals of their individual groups. B. Focus on the worker's personality rather than results. C. Remain focused on preventing stakeholders from straying from the common goal. D. Promote competition among members of the group. C. Remain focused on preventing stakeholders from straying from the common goal. Which of the following risk manageme...

CPCU 530 (Everything) Questions & Answer Doctrine of stare decisis The principle that lower courts must follow precedents set by higher courts. Criminal law The branch of the law that imposes penalties for wrongs against society. Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More Civil law A classification of law that applies to legal matters not governed by criminal law and that protects rights and pro...

CPCU 530 Questions and Answers Civil Law Comprehensive codes of written laws or statutes that apply to all legal questions. These systems rely on scholarly interpretations of their codes and constitutions rather than on court decisions Common Law Body of law derived from court decisions as opposed to statutes or constitutions. Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:04 / 0:15 Full screen Brainpower Read More Doctrine of Stare Decisis ...