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CPCU 551 – Focus Questions And Answers With Verified Solutions 100% Correct!!!
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CPCU 551 – Focus Questions And Answers With Verified Solutions 100% Correct!!!
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CPCU 551 – Focus Questions AndAnswers With Verified Solutions 100%
Correct!!!
Loss Payment under Agreed Value - ANSWER✔✔ [(Limit/Agreed Value) * Loss ] -
Deductible
Debris Removal Must be Reported in... - ANSWER✔✔ 180 days
Standard Building and Personal Property (BPP) deductible - ANSWER✔✔ $500
Amount payable if coinsurance requirement not met - ANSWER✔✔ [(Limit/(Value
of Covered Property x Coinsurance %)) * Loss] - Deductible
[(Did/Should) * Loss] - Deductible
BPP Aggregate Limits: only for... - ANSWER✔✔ Pollution cleanup and removal,
and electronic data
BPP Additional Coverages Subject to Occurrence Limits - ANSWER✔✔ Debris
Removal
Fire Department Service Charge
Increased Cost of Construction
each coverage extension
Business Personal Property includes - ANSWER✔✔ Furniture and fixtures
, Machinery and equipment
"Stock"
All other personal property owned by you and used in your business
Labor, materials or services furnished or arranged by you on personal property of
others
Your use interest as a tenant in improvements or betterments
Leased personal property that you have a contractual responsibility to insure,
unless otherwise provided for under Personal Property of Others
Business Personal Property Temporarily in Portable Storage Units must be within
how many feet of the covered property? - ANSWER✔✔ 100 feet
Anti-concurrent causation - ANSWER✔✔ Certain exclusions apply even if another
cause is involved in the loss
Basic and Broad Form Exclusions
(subject to anti-concurrent causation language) - ANSWER✔✔ Ordinance or Law
Earth movement
Governmental action
Nuclear hazard
Utility services
War and military action
Water
Fungus, wet rot, dry
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