7/13/25, 1:44
PM
CPCU 555 EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS VERIFIED LATEST
UPDATE GRADED A++ 2025/2026
Dwelling - 3 types
1. Residence premises (1,2,3,4
family/insured primary residence in at
Coverage A - least one)
open perils 2. Structures Attached to
dwelling - includes fixtures
but not fence, utility line as
attachment
3. Construction
Supplies/materials (for other
structures also if on or next
to residence)
Other Structures covered unless
perils excluded
Coverage B - 1. Applies to other structures on the
open perils residence premises meeting the
following:
1/
12
, 7/13/25, 1:44
PM
b. They are not attached to the
building
c. There is a clear space separating
the structure from the dwelling
2. A structure is built and has a # of
parts arranged in particular way or
pattern
Personal Property
1. Must be owned or used by
persons qualifying as insureds
(named insured, resident
relatives of named insured, and
Coverage C - persons under 21 and in the
named perils care of the named insured or a
resident relative.) or
2. Includes property insured uses but
is owned by someone else or
3. Full-time student who BEFORE
entering school was a resident
relative of named insured (until
24) or under the care of the
named insured or of a resident
2/
12
PM
CPCU 555 EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS VERIFIED LATEST
UPDATE GRADED A++ 2025/2026
Dwelling - 3 types
1. Residence premises (1,2,3,4
family/insured primary residence in at
Coverage A - least one)
open perils 2. Structures Attached to
dwelling - includes fixtures
but not fence, utility line as
attachment
3. Construction
Supplies/materials (for other
structures also if on or next
to residence)
Other Structures covered unless
perils excluded
Coverage B - 1. Applies to other structures on the
open perils residence premises meeting the
following:
1/
12
, 7/13/25, 1:44
PM
b. They are not attached to the
building
c. There is a clear space separating
the structure from the dwelling
2. A structure is built and has a # of
parts arranged in particular way or
pattern
Personal Property
1. Must be owned or used by
persons qualifying as insureds
(named insured, resident
relatives of named insured, and
Coverage C - persons under 21 and in the
named perils care of the named insured or a
resident relative.) or
2. Includes property insured uses but
is owned by someone else or
3. Full-time student who BEFORE
entering school was a resident
relative of named insured (until
24) or under the care of the
named insured or of a resident
2/
12
