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CPCU 552 Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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CPCU 552 Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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  • June 19, 2024
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  • 2023/2024
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CPCU 552
A D&O policy has 3 different coverages what are they? - ✅✅ -A.) To
indemnify the D&O if indemnification by the corporation is neither required nor
permitted. Does not include entity coverage
B.) To reimburse the corporation for sums that it must pay on behalf of its D&O
C.) To indemnify the corporation for its wrongful acts

A hit and run is covered by what symbol? - ✅✅ -Symbol 6—Owned Autos
Subject to a Compulsory Uninsured Motorists Law


✅✅-No casual laborer are
A short-term workers covered in WC policies?
Are hired workers covered in WC policies? -
EXcluded and so are hired workers

After installation but before an apartment is occupied, two of the cabinets are
damaged when they fall from the wall as a result of improper installation.

✅✅
Carl's Commercial General Liability (CGL) Coverage Form excludes coverage
for the damage to the cabinets because of what exclusion? - -exclusion
M under coverage A: damage to NI work

Are crew members included on an aviation policy? - ✅✅-No, they are
excluded


✅✅
BACF (Business Auto Coverage Form) has 3 duties to pay, what are they? -
-1.) Duty to Pay damage
2.) Duty to pay pollution costs or expense
3.) Duty to defend

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

Dale's Dive Shop rents a 20-foot boat for an employee outing. While Dale is
driving the boat on a lake, he accidentally injures a swimmer. Does Dale's
Commercial General Liability (CGL) Coverage Form cover the swimmer's

, ✅✅
bodily injury? - -Yes, because this watercraft qualifies as an exception to
the watercraft exclusion

Define:
1.) Marine builders risk
2.) Ship repairers liability
3.) Terminal operators
4.) Marina operators liability

✅✅
5.) boat dealers
6.) charterers liability - -1.) Property coverage for a vessel under
construction or during trial trips and delivery
2.) For vessels under repair for the repairer
3.) Bailee coverage for vessels and cargo
4.) Coverage for customers' boats in the care, custody, and control of a marina
operator
5.) Property coverage for pleasure crafts held for sale
6.) Coverage for voyage and time chaterers

For Marine liability what are the 3 categories? -✅✅ -1.) Injury: to crew, other
persons on and not on board the vessel
2.) Property Damage: to other vessels and their cargoes and other structures
3.) Pollution: OPA of 1990 a federal law that does not supercede individual
state laws

How many exclusions are in part B and what are the big ones? - ✅✅-16:
A: Knowing Violation of Rights of Another
B: Material Published with Knowledge of Falsity
C: Material Published Prior to Policy Period
D: Criminal Acts
E: Contractual Liability
F: Breach of Contract
G: Quality of goods-Failure to conform to
H: Wrong Description of prices
I: Infringement of Copyright, patent, trademark or trade secret
J: Insured in Media and Internet-type business
K: Electronic chatrooms or bulletin boards
L: Unauthorized use of another's name or product
OTHERS ARE NOT IMPORTANT
M:Pollution/Pollution related
N: War

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