CPCU 553 EXAM QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS VERIFIED LATEST UPDATE
GRADED A++
Terms in this set (105)
T/F: retirement investment portfolio is True
example of
Asset exposed to loss
- Brick storage shed
EX of Real Property - Underground Pipes/flues
- detached garage
- Sport equipment
- silverware
EX of Personal Property - fishing boat
- household appliances
- Motorhome / automobile
1/45
, - Special Damages
Compensatory Damages
-
claim for money damages bc
Liability Loss
of injury to another
party or their property
Untrue, Oral statement that
Slander
damages someone's
reputation
- Employment Income
Assets Exposed to Loss due to - Savings
Health /Disability loss exposure - Employer provided benefits
NOT Social Security Income
2/45
, Primary risk to
retirement assets will be insufficient
financial Assets
for a retiree
- Reduction in Value of property
Financial
- Increased Expense
Consequences of
- Lost Income
Loss
compensate victim for losses with NO
General Damages
measurable
expense such as Pain & Suffering
Compensatory damages awarding money for
Special Damages
specific
expenses such as medical bills and lost wages
Wrongful act/omission other than
Tort
crime or breach of contract that
invades a legally protected right
1. Negligence
Sources of Tort
Liability 4 Elements of Negligence
3/45
, 2. Intentional Torts 2. breach of that duty
3. Absolute (strict) 3. injury/damage occurs
Liability 4. injury/damage is a DIRECT cause of
the breach of duty (must be unbroken
1. duty to act
chain of events)
Libel written/printed untrue statement
Trespass Unauthorized possession or use of land.
Contractual Liability Leases for homes/apartments and
rental agreements Statutory Liabilitiy arise from
statutes/laws. Auto Accidents
Personal Financial Life, Health, & Retirement
Planing Loss
Exposure
Premature death dying before life expectancy
Underemployment Reduced work hours
Most households financial criteria
choose risk
management
techniques by:
4/45
COMPLETE SOLUTIONS VERIFIED LATEST UPDATE
GRADED A++
Terms in this set (105)
T/F: retirement investment portfolio is True
example of
Asset exposed to loss
- Brick storage shed
EX of Real Property - Underground Pipes/flues
- detached garage
- Sport equipment
- silverware
EX of Personal Property - fishing boat
- household appliances
- Motorhome / automobile
1/45
, - Special Damages
Compensatory Damages
-
claim for money damages bc
Liability Loss
of injury to another
party or their property
Untrue, Oral statement that
Slander
damages someone's
reputation
- Employment Income
Assets Exposed to Loss due to - Savings
Health /Disability loss exposure - Employer provided benefits
NOT Social Security Income
2/45
, Primary risk to
retirement assets will be insufficient
financial Assets
for a retiree
- Reduction in Value of property
Financial
- Increased Expense
Consequences of
- Lost Income
Loss
compensate victim for losses with NO
General Damages
measurable
expense such as Pain & Suffering
Compensatory damages awarding money for
Special Damages
specific
expenses such as medical bills and lost wages
Wrongful act/omission other than
Tort
crime or breach of contract that
invades a legally protected right
1. Negligence
Sources of Tort
Liability 4 Elements of Negligence
3/45
, 2. Intentional Torts 2. breach of that duty
3. Absolute (strict) 3. injury/damage occurs
Liability 4. injury/damage is a DIRECT cause of
the breach of duty (must be unbroken
1. duty to act
chain of events)
Libel written/printed untrue statement
Trespass Unauthorized possession or use of land.
Contractual Liability Leases for homes/apartments and
rental agreements Statutory Liabilitiy arise from
statutes/laws. Auto Accidents
Personal Financial Life, Health, & Retirement
Planing Loss
Exposure
Premature death dying before life expectancy
Underemployment Reduced work hours
Most households financial criteria
choose risk
management
techniques by:
4/45
