CPCU 552

CPCU 552 - CHAPTER 2 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED GRADED A++ Commercial General Liability (CGL) Coverage Form provides commercial general liability insurance on either an occurrence or a claims made coverage basis CGL abbreviates commercial general liability Bodily injury includes bodily injury, sickness, disease, and resulting death Property damage includes physical injury to tangible property, including loss of use of that property and loss of use of ta...

CPCU 552 CH. #12 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED The Terrorism Risk Insurance Act (TRIA) applies to many commercial lines of business, including: a) General liability, workers compensation, and inland marine. b) Auto, property, and professional liability c) Medical malpractice, inland marine, and life & health c) Workers compensation, life & health, and auto a According to the Terrorism Risk Insurance Act (TRIA), one of the 2 required conditions that an Ins...

CPCU 552, CHAPTER 3 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS The Coverage B—Personal and Advertising Injury Liability of the Commercial General Liability (CGL) Coverage Form parallels the Coverage A insuring agreement, but personal and advertising injury applies to an Bodily injury and property damage liability is parallel to personal and advertising injury liability, but personal and advertising injury applies to an offense arising out of the named insured's business. ABC E...

CPCU 552 GL EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ Michael is a general liability claims adjuster for Goshen Mutual. He wants to see if an insured has any endorsements that apply to its general liability policy. Which one of the following sections of the coverage form would provide this information for Michael? Declarations Joe's Cleaning Service is having a very good year, with close to a 30 percent increase in sales. Joe is wondering if this growth will affect hi...

CPCU 552 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE Liability Loss Exposure Any condition or situation that presents the possibility of a claim alleging legal responsibility of a person or business for injury or damage suffered by another party. Strict Liability (absolute liability) Liability imposed by a court or by a statute in the absence of fault when harm results from activities or conditions that are extremely dangerous, unnatural, ultrahazardous, ext...

CPCU 552 CH. #2, CPCU 552 CH. #3 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE The term "you" is used throughout the Commercial General Liability Coverage Form. "You" is defined to include: A) The named insured shown in the declarations. B) The named insured shown in the declarations and any employees of the named insured. C) The named insured and any officers or directors of the named insured's organization. D) All persons or entities who ha...

CPCU 552 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE If an employee rents a car in his or her own name and uses the auto to conduct his or her employer's business, which one of the following endorsements of the Business Auto Coverage Form would ensure that there is coverage if the employee is in an accident? Select one: A. Rental Reimbursement Coverage endorsement B. Employee Hired Autos endorsement C. Broadened Coverage for Named Individuals endorsement...

CPCU 552 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED LATEST UPDATE The management of Maryland Marine Co. (MMC) must ensure that proper coverage is obtained for work- related injuries. The employee population of MMC is a mixture of full-time and part-time employees as well as some leased employees. Much of MMC's work is done by independent contractors and temporary employees during peak seasons. Which one of the following statements about these persons is true? Select one: ...

CPCU 552 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ BACF Symbol 1 ADCF Symbol 21 MCCF Symbol 61 Any Auto BACF Symbol 2 ADCF Symbol 22 MCCF Symbol 62 Owned Autos Only BACF Symbol 3 ADCF Symbol 23 MCCF Symbol 63 Owned Private Passenger Autos Only BACF Symbol 4 ADCF Symbol 24 MCCF Symbol 64 Owned Autos Other Than Private Passenger Autos Only BACF Symbol 5 ADCF Symbol 25 MCCF Symbol 65 Owned Autos Subject To No-fault BACF Symbol 6 ADCF Symbol 26 MCCF Symbo...

CPCU 552 EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ Civil Law A classification of law that applies to legal matters not governed by criminal law and that protects rights and provides remedies for breaches of duties owed to others. Criminal law The branch of the law that imposes penalties for wrongs against society. And insurance can not respond to criminal charges legal liability The legally enforceable obligation of a person or an organization to pay a sum of money (c...