7/13/25, 12:25
PM
CPCU 551 - MANAGING COMMERCIAL PROPERTY -
QUESTIONS WITH CORRECT ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++
Terms in this set (248)
Which one of the following With all of the emerging
statements is correct regarding risks that exist today, it is
the evolving role of a important that the producer
commercial insurance take on more of a risk
producer? consultant role.
A. Commercial insurance is
becoming more of a commodity,
and the producer is
becoming more of an order taker.
B. With all of the emerging risks
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158
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PM
that exist today, it is important
that the producer take on more of
a risk consultant role.
C. The commercial insurance
producer is becoming more of a
financial advisor than a risk
management consultant.
D. With increasing competition, the
primary role of the producer is
to secure the
coverage that the client needs at
the lowest price available.
2/
158
,7/13/25, 12:25
PM
Transportation loss The buyer assumes responsibility for loss
exposures can vary as soon as the goods are placed aboard
based on the party the vessel at the port named in the
responsible in the terms.
event of a loss. The
term of sale "FOB
(free on Board)
Vessel" refers to
which one of the
following?
A. The buyer takes
delivery of the goods
at the point of
origin specified in
the terms,
and is responsible for
any loss that occurs
after taking delivery
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158
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PM
of the goods.
B. The buyer
assumes
responsibility for loss
or damage as soon
as the goods are
placed into the
custody of the ocean
carrier or delivered on
board the vessel.
C. The buyer assumes
responsibility for loss
as soon as the
goods are placed
aboard the vessel at
the port named in
the terms.
D. The buyer assumes
responsibility for loss
as soon as the goods
4/
158
PM
CPCU 551 - MANAGING COMMERCIAL PROPERTY -
QUESTIONS WITH CORRECT ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++
Terms in this set (248)
Which one of the following With all of the emerging
statements is correct regarding risks that exist today, it is
the evolving role of a important that the producer
commercial insurance take on more of a risk
producer? consultant role.
A. Commercial insurance is
becoming more of a commodity,
and the producer is
becoming more of an order taker.
B. With all of the emerging risks
1/
158
,7/13/25, 12:25
PM
that exist today, it is important
that the producer take on more of
a risk consultant role.
C. The commercial insurance
producer is becoming more of a
financial advisor than a risk
management consultant.
D. With increasing competition, the
primary role of the producer is
to secure the
coverage that the client needs at
the lowest price available.
2/
158
,7/13/25, 12:25
PM
Transportation loss The buyer assumes responsibility for loss
exposures can vary as soon as the goods are placed aboard
based on the party the vessel at the port named in the
responsible in the terms.
event of a loss. The
term of sale "FOB
(free on Board)
Vessel" refers to
which one of the
following?
A. The buyer takes
delivery of the goods
at the point of
origin specified in
the terms,
and is responsible for
any loss that occurs
after taking delivery
3/
158
, 7/13/25, 12:25
PM
of the goods.
B. The buyer
assumes
responsibility for loss
or damage as soon
as the goods are
placed into the
custody of the ocean
carrier or delivered on
board the vessel.
C. The buyer assumes
responsibility for loss
as soon as the
goods are placed
aboard the vessel at
the port named in
the terms.
D. The buyer assumes
responsibility for loss
as soon as the goods
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158
