CPCU 552, CP & L FINAL Exam Test | 2025
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Actual Exam With Correct Verified Answers
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| Guaranteed A+ Exam
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Aircraftghavegagsignificantgexposuregtogcatastropheglosses.gOfgthegmanygr
easonsgforgthegcatastrophicglossgpotentialgofgaircraft,gthegmostgsignifican
tgisg-g✔✔✔gCorrectgAnswerg>gThegphysicalgpropertiesgofgaircraft.
Jimgisgsuedgforgfalsegarrest.gHegisgsuedgforg$500,000.gJimgisginsuredgunderg
anginsurancegpolicygwithgagliabilityglimitgofg$300,000,gbutghisgpolicygexclu
desgcoveragegforgfalsegarrest.gJimgisgalsoginsuredgundergangumbrellaginsur
ancegpolicygwithgagpolicyglimitgofg$2,000,000gandgself-
insuredgretentiong(SIR)gofg$2,000.gWhichgofgthegfollowinggisgtruegingregar
dsgtogthisgscenario?gA.gJimgmustgpaygself-
insuredgretentiongB.gJim'sgumbrellaginsurancegpolicygwillgnotgpaygforgthisg
lossgC.gJim'sgumbrellaginsurancegpolicygwillgpayg$500,000gforgthisglossgD.gJ
imgmustgpaygagpremiumgforgdropggapgcoveragegtogapplyg-
g ✔✔✔gCorrectgAnswerg>gA)gJimgmustgpaygself-insuredgretention
,Whichgonegofgthegfollowinggstatementsgaboutgtheggeneralgaggregateglimi
tgundergagCommercialgGeneralgLiabilityg(CGL)gCoveragegFormgisgtrue?
-
✔✔✔gCorrectgAnswerg>gItgisgreducedgbygangclaimsgpaidgforgmedicalgpay
g
mentsgundergCoveragegC.
TomgoftengrunsgerrandsgforghisgbossgatgXYZgCompany,gusinggthegboss'gcar.
Ongonegofgthesegerrands,gTomgisginvolvedgingagseriousgautogaccident.gHeg
g
spendsgagcouplegofgweeksgingtheghospital;gmissesgfourgweeksgofgwork;gan
dgmustgundergogphysicalgtherapy.gDoesgXYZ'sgWorkersgCompensationgan
dgEmployersgLiabilitygInsuranceg(WC&EL)gPolicygcovergTom'sginjuries,glost
income,gandgrehabilitationgexpenses?g-
g
✔✔✔gCorrectgAnswerg>gYes,gthegworkersgcompensationgpolicygwouldg
g
paygallgofgTom'sgexpenses,gbecauseghisginjuriesgarosegoutgofghisgemploy
mentgatgXYZgCompany.
Agsecuritygguardgisgemployedgatgagpiergwheregshippinggcontainersgareglo
adedgandgunloadedgfromgbarges.gTheregisgalsogagsmallgmarinagforgpleasu
regcraftgatgthegpier.gThegsecuritygguardgtripsgovergequipmentgleftgongagdo
ckgalongsidegagpleasuregcraftgandgisginjured.gThegpiergonlyghasginsuranceg
coveragegthatgprovidesgbenefitsgundergthegLongshoregandgHarborgWork
ersgCompensationgActg(LHWCA).gIsgthegguard'sginjury
,coveredgundergLHWCA?g-
✔✔✔gCorrectgAnswerg>gTheginjurygisgcoveredgbygLHWCAgbecausegthegg
g
uardgisgnotgcoveredgundergagstate'sgworkersgcompensationglaw.
ABCgPlumbinggenteredgintogagcontractgwithgBillgtoginstallgagcommercialggr
adegsepticgsystemgonghisgproperty.gTheginstallationgofgthegsepticgsepticgw
asgtimegsensitivegbecausegthegrestgofgBill'sgconstructiongprojectgcouldgnot
gogforwardguntilgthegsepticgsystemgwasgingplace.gThegcontractgrequiredgt
g
hatgthegworkgbegdonegwithing30gdaysgofgcontractgsigning,gorgABCgwouldgh
avegtogpaygagpenaltygofg$1,000gpergday.gWhichgonegofgthegfollowinggcate
goriesgofgdamagesgdoesgtheg$1,000gpergdaygpenaltygspecifiedgingthegcont
ractgfallginto?g-g✔✔✔gCorrectgAnswerg>gLiquidatedgdamages
Manygstatesghavegfundsgfromgwhichgemployersgmaygpurchasegworkersgc
ompensationginsurance.gSuchgfundsgmaygbegeitherg-
✔✔✔gCorrectgAnswerg>gCompetitivegorgmonopolistic
g
SectiongII—
WhogIsgangInsuredgidentifiesgthegpersonsgandgorganizationsgthatgqualifyg
asginsuredsgundergthegCommercialgGeneralgLiabilityg(CGL)
, CoveragegForm.gWhichgonegofgthegfollowinggstatementsgregardinggwhogi
sgconsideredganginsuredgisgmostgaccurate?g-
✔✔✔gCorrectgAnswerg>gWhengagCGLgpolicygcoversgonegorgmoregindivid
g
ualsgasgnamedginsureds,ganygpersongorgorganizationghavinggpropergte
mporarygcustodygofgthegnamedginsured'sgpropertygfollowinggthegname
dginsured'sgdeathgisganginsured.
Whatgisgthegnameggivengtogagclaimgbygangemployeegwhogsaysgthatghegorgs
hegwasgfiredgbecausegofgthegfilinggofgagworkersgcompensationgclaim?g-
✔✔✔gCorrectgAnswerg>gRetaliationgclaim
RailroadgownersgcommonlygrequiregcontractorsgtogpurchasegagRailroadgP
rotectivegLiabilitygCoveragegForm.gWhichgonegofgthegfollowinggstatement
sgaboutgthisgformgisgtrue?g-
✔✔✔gCorrectgAnswerg>gOnegofgthegcoverageglimitsgappliesgtogphysicalg
g
damagegtogpropertygownedgbygorgleasedgorgentrustedgtogthegrailroad
Javier'sgbusinessgautogpolicygcontainsgagpersonalginjurygprotectiong(PIP)ge
ndorsement.gHegisginvolvedgingangautogaccidentgingthegcoveredgauto,gres
ultingging$30,000gingpropertygdamage,g$5,000gingthird-partygbodily
g g g g g g g g g
Actual Exam With Correct Verified Answers
g g g g g
| Guaranteed A+ Exam
g g g
Aircraftghavegagsignificantgexposuregtogcatastropheglosses.gOfgthegmanygr
easonsgforgthegcatastrophicglossgpotentialgofgaircraft,gthegmostgsignifican
tgisg-g✔✔✔gCorrectgAnswerg>gThegphysicalgpropertiesgofgaircraft.
Jimgisgsuedgforgfalsegarrest.gHegisgsuedgforg$500,000.gJimgisginsuredgunderg
anginsurancegpolicygwithgagliabilityglimitgofg$300,000,gbutghisgpolicygexclu
desgcoveragegforgfalsegarrest.gJimgisgalsoginsuredgundergangumbrellaginsur
ancegpolicygwithgagpolicyglimitgofg$2,000,000gandgself-
insuredgretentiong(SIR)gofg$2,000.gWhichgofgthegfollowinggisgtruegingregar
dsgtogthisgscenario?gA.gJimgmustgpaygself-
insuredgretentiongB.gJim'sgumbrellaginsurancegpolicygwillgnotgpaygforgthisg
lossgC.gJim'sgumbrellaginsurancegpolicygwillgpayg$500,000gforgthisglossgD.gJ
imgmustgpaygagpremiumgforgdropggapgcoveragegtogapplyg-
g ✔✔✔gCorrectgAnswerg>gA)gJimgmustgpaygself-insuredgretention
,Whichgonegofgthegfollowinggstatementsgaboutgtheggeneralgaggregateglimi
tgundergagCommercialgGeneralgLiabilityg(CGL)gCoveragegFormgisgtrue?
-
✔✔✔gCorrectgAnswerg>gItgisgreducedgbygangclaimsgpaidgforgmedicalgpay
g
mentsgundergCoveragegC.
TomgoftengrunsgerrandsgforghisgbossgatgXYZgCompany,gusinggthegboss'gcar.
Ongonegofgthesegerrands,gTomgisginvolvedgingagseriousgautogaccident.gHeg
g
spendsgagcouplegofgweeksgingtheghospital;gmissesgfourgweeksgofgwork;gan
dgmustgundergogphysicalgtherapy.gDoesgXYZ'sgWorkersgCompensationgan
dgEmployersgLiabilitygInsuranceg(WC&EL)gPolicygcovergTom'sginjuries,glost
income,gandgrehabilitationgexpenses?g-
g
✔✔✔gCorrectgAnswerg>gYes,gthegworkersgcompensationgpolicygwouldg
g
paygallgofgTom'sgexpenses,gbecauseghisginjuriesgarosegoutgofghisgemploy
mentgatgXYZgCompany.
Agsecuritygguardgisgemployedgatgagpiergwheregshippinggcontainersgareglo
adedgandgunloadedgfromgbarges.gTheregisgalsogagsmallgmarinagforgpleasu
regcraftgatgthegpier.gThegsecuritygguardgtripsgovergequipmentgleftgongagdo
ckgalongsidegagpleasuregcraftgandgisginjured.gThegpiergonlyghasginsuranceg
coveragegthatgprovidesgbenefitsgundergthegLongshoregandgHarborgWork
ersgCompensationgActg(LHWCA).gIsgthegguard'sginjury
,coveredgundergLHWCA?g-
✔✔✔gCorrectgAnswerg>gTheginjurygisgcoveredgbygLHWCAgbecausegthegg
g
uardgisgnotgcoveredgundergagstate'sgworkersgcompensationglaw.
ABCgPlumbinggenteredgintogagcontractgwithgBillgtoginstallgagcommercialggr
adegsepticgsystemgonghisgproperty.gTheginstallationgofgthegsepticgsepticgw
asgtimegsensitivegbecausegthegrestgofgBill'sgconstructiongprojectgcouldgnot
gogforwardguntilgthegsepticgsystemgwasgingplace.gThegcontractgrequiredgt
g
hatgthegworkgbegdonegwithing30gdaysgofgcontractgsigning,gorgABCgwouldgh
avegtogpaygagpenaltygofg$1,000gpergday.gWhichgonegofgthegfollowinggcate
goriesgofgdamagesgdoesgtheg$1,000gpergdaygpenaltygspecifiedgingthegcont
ractgfallginto?g-g✔✔✔gCorrectgAnswerg>gLiquidatedgdamages
Manygstatesghavegfundsgfromgwhichgemployersgmaygpurchasegworkersgc
ompensationginsurance.gSuchgfundsgmaygbegeitherg-
✔✔✔gCorrectgAnswerg>gCompetitivegorgmonopolistic
g
SectiongII—
WhogIsgangInsuredgidentifiesgthegpersonsgandgorganizationsgthatgqualifyg
asginsuredsgundergthegCommercialgGeneralgLiabilityg(CGL)
, CoveragegForm.gWhichgonegofgthegfollowinggstatementsgregardinggwhogi
sgconsideredganginsuredgisgmostgaccurate?g-
✔✔✔gCorrectgAnswerg>gWhengagCGLgpolicygcoversgonegorgmoregindivid
g
ualsgasgnamedginsureds,ganygpersongorgorganizationghavinggpropergte
mporarygcustodygofgthegnamedginsured'sgpropertygfollowinggthegname
dginsured'sgdeathgisganginsured.
Whatgisgthegnameggivengtogagclaimgbygangemployeegwhogsaysgthatghegorgs
hegwasgfiredgbecausegofgthegfilinggofgagworkersgcompensationgclaim?g-
✔✔✔gCorrectgAnswerg>gRetaliationgclaim
RailroadgownersgcommonlygrequiregcontractorsgtogpurchasegagRailroadgP
rotectivegLiabilitygCoveragegForm.gWhichgonegofgthegfollowinggstatement
sgaboutgthisgformgisgtrue?g-
✔✔✔gCorrectgAnswerg>gOnegofgthegcoverageglimitsgappliesgtogphysicalg
g
damagegtogpropertygownedgbygorgleasedgorgentrustedgtogthegrailroad
Javier'sgbusinessgautogpolicygcontainsgagpersonalginjurygprotectiong(PIP)ge
ndorsement.gHegisginvolvedgingangautogaccidentgingthegcoveredgauto,gres
ultingging$30,000gingpropertygdamage,g$5,000gingthird-partygbodily
