7/13/25, 12:24
PM
CPCU 551 EXAM QUESTIONS AND ANSWERS
WITH COMPLETE VERIFIED SOLUTIONS LATEST
VERSION 2025/2026 GRADED A++ 100%
ASSURED PASS!!
Terms in this set (1275)
Discovery form Form that covers losses discovered
during the policy period even though
they may have occurred before
the policy period.
(Compared with re: commercial crime. Loss sustained is the
loss sustained form most commonly used of these two.)
Loss sustained form Form that covers losses actually
sustained during the policy period
and discovered no later than one
year after policy expiration.
(Compared with ...
discovery form re:
https://quizlet.com/948165161/cpcu-551- 1/
flash-cards/ 38
,7/13/25, 12:24
PM
commercial crime.
Loss sustained is
the most
commonly used
of these two.)
Employee Theft ...
coverge, Insures an
employer against
theft of its property
by its own
employees.
Theft (definition as The unlawful taking of money,
part of Employee securities, or other property to the
Theft coverage) deprivation of the insured.
For the purposes ...
of employee theft
coverage, theft
includes forgery.
Unlawful taking ...
(definition as part of
Employee Theft
coverage), An act
that is not
https://quizlet.com/948165161/cpcu-551- 2/
flash-cards/ 38
,7/13/25, 12:24
PM
authorized by law
or is a violation of
a civil or criminal
law.
(Proof of unlawful ...
taking does not
have to meet the
standards needed
to obtain a
criminal
conviction.)
https://quizlet.com/948165161/cpcu-551- 3/
flash-cards/ 38
, 7/13/25, 12:24
PM
Where employee ...
theft coverage
applies, United
States (including
its territories and
possessions),
Puerto Rico, and
Canada.
Coverage also
applies to loss
caused by an
employee who is
temporarily
outside the
covered territory
for not more than
ninety
consecutive
days.
"Employee" as A natural person (as opposed to a
defined for corporation engaged by the insured) who
employee theft is:
https://quizlet.com/948165161/cpcu-551- 4/
flash-cards/ 38
PM
CPCU 551 EXAM QUESTIONS AND ANSWERS
WITH COMPLETE VERIFIED SOLUTIONS LATEST
VERSION 2025/2026 GRADED A++ 100%
ASSURED PASS!!
Terms in this set (1275)
Discovery form Form that covers losses discovered
during the policy period even though
they may have occurred before
the policy period.
(Compared with re: commercial crime. Loss sustained is the
loss sustained form most commonly used of these two.)
Loss sustained form Form that covers losses actually
sustained during the policy period
and discovered no later than one
year after policy expiration.
(Compared with ...
discovery form re:
https://quizlet.com/948165161/cpcu-551- 1/
flash-cards/ 38
,7/13/25, 12:24
PM
commercial crime.
Loss sustained is
the most
commonly used
of these two.)
Employee Theft ...
coverge, Insures an
employer against
theft of its property
by its own
employees.
Theft (definition as The unlawful taking of money,
part of Employee securities, or other property to the
Theft coverage) deprivation of the insured.
For the purposes ...
of employee theft
coverage, theft
includes forgery.
Unlawful taking ...
(definition as part of
Employee Theft
coverage), An act
that is not
https://quizlet.com/948165161/cpcu-551- 2/
flash-cards/ 38
,7/13/25, 12:24
PM
authorized by law
or is a violation of
a civil or criminal
law.
(Proof of unlawful ...
taking does not
have to meet the
standards needed
to obtain a
criminal
conviction.)
https://quizlet.com/948165161/cpcu-551- 3/
flash-cards/ 38
, 7/13/25, 12:24
PM
Where employee ...
theft coverage
applies, United
States (including
its territories and
possessions),
Puerto Rico, and
Canada.
Coverage also
applies to loss
caused by an
employee who is
temporarily
outside the
covered territory
for not more than
ninety
consecutive
days.
"Employee" as A natural person (as opposed to a
defined for corporation engaged by the insured) who
employee theft is:
https://quizlet.com/948165161/cpcu-551- 4/
flash-cards/ 38
