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CP&L FINAL EXAM 260 ACTUAL EXAM QUESTIONS WITH 100% CORRECT VERIFIED ANSWERS ALREADY GRADED A BRAND NEW

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CP&L FINAL EXAM 260 ACTUAL EXAM QUESTIONS WITH 100% CORRECT VERIFIED ANSWERS ALREADY GRADED A BRAND NEW

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  • July 16, 2024
  • 34
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • cpl final exam
  • cpl
  • cpl final exam 260 actual exam questions with 10
  • cpl final exam 260 actual exam

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  • CP&L
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CP&L FINAL EXAM 260 ACTUAL EXAM QUESTIONS WITH 100%
CORRECT VERIFIED ANSWERS ALREADY GRADED A+/BRAND NEW
2024-2025


1. Railroad owners commonly require contractors to purchase a Railroad Protective
Liability Coverage Form. Which one of the following statements about this form is true?:
One of the coverage limits applies to physical damage to property owned by or leased or
entrusted to the railroad
2. Which one of the following statements about the general aggregate limit under a
Commercial General Liability (CGL) Coverage Form is true?: It is reduced by an claims paid for
medical payments under Coverage C.
3. Tom often runs errands for his boss at XYZ Company, using the boss' car. On one of
these errands, Tom is involved in a serious auto accident. He spends a couple of weeks in
the hospital; misses four weeks of work; and must undergo physical therapy. Does XYZ's
Workers Compensation and Employers Liability Insurance (WC&EL) Policy cover Tom's
injuries, lost income, and rehabilitation expenses?: Yes, the workers compensation policy
would pay all of Tom's expenses, because his injuries arose out of his employment at XYZ
Company.
4. Aircraft have a significant exposure to catastrophe losses. Of the many reasons for the
catastrophic loss potential of aircraft, the most significant is: The physical properties of
aircraft.
5. A security guard is employed at a pier where shipping containers are loaded and
unloaded from barges. There is also a small marina for pleasure craft at the pier. The
security guard trips over equipment left on a dock alongside a pleasure craft and is injured.
The pier only has insurance coverage that provides benefits under the Longshore and Harbor
Workers Compensation Act (LHWCA). Is the guard's injury covered under LHWCA?: The
injury is covered by LHWCA because the guard is not covered under a state's workers
compensation law.
6. ABC Plumbing entered into a contract with Bill to install a commercial grade septic
system on his property. The installation of the septic septic was time sensitive because the
rest of Bill's construction project could not go forward until the septic system was in place.
The contract required that the work be done within 30 days of contract signing, or ABC
would have to pay a penalty of $1,000 per day. Which one of the following categories of
damages does the $1,000 per day penalty specified in the contract fall into?: Liquidated
damages
7. Many states have funds from which employers may purchase workers compensation
insurance. Such funds may be either: Competitive or monopolistic




,8. Section II—Who Is an Insured identifies the persons and organizations that qualify as
insureds under the Commercial General Liability (CGL) Coverage Form. Which one of the
following statements regarding who is considered an insured is most accurate?: When a CGL
policy covers one or more individuals as named insureds, any person or organization having
proper temporary custody of the named insured's property following the named insured's
death is an insured.
9. What is the name given to a claim by an employee who says that he or she was fired
because of the filing of a workers compensation claim?: Retaliation claim
10. Javier's business auto policy contains a personal injury protection (PIP) endorsement.
He is involved in an auto accident in the covered auto, resulting in $30,000 in property
damage, $5,000 in third-party bodily injury, and $10,000 in personal medical expenses. If
Javier's business auto policy has a general aggregate limit of $100,000 and a PIP limit of
$15,000 and he is at fault for the accident, how much will his insurer pay under the PIP
coverage: PIP provides first-party benefits for medical expenses, loss of income, loss of
services, and funeral expenses resulting from bodily injury to occupants of a covered auto
because of an auto accident. It pays regardless of which party was at fault in the accident.
Therefore, Javier's insurer will pay him $10,000 in medical expenses from the PIP coverage.
The other damages will be payable under different coverages available on his policy.
11. Which one of the following statements about coverage triggers in cyber risk insurance
policies is most accurate?: Both claims-made coverage triggers and occurrence coverage
triggers are available, but occurrence coverage triggers are more appropriate for some
insuring agreements than for others
12. According to the Terrorism Risk Insurance Act (TRIA), one of the two required
conditions that an insurer must meet at the time of an initial offer, purchase, and renewal of
insurance is the disclosure of the premium for terrorism coverage. What is the other
condition: A make-available provision 13. Acme Insurance cannot agree with insured Jill
Jenkins on the amount of a covered physical damage loss under Jill's Business Auto Coverage
Form. Jill requested an appraisal. Acme and Jill each appoint an appraiser, and the
appraisers appoint an umpire. An award in writing signed by any two of the three binds both
Acme and Jill. One appraiser and the umpire ruled for Jill and against Acme. Which one of
the following statements is true regarding this scenario?: Jill and Acme will share the cost of
the umpire.
14. Matthew Jones, the named insured under an unendorsed Business Auto Coverage
Form (BACF), requires his employees to use their own cars for business purposes. One of
Matthew's employees, Paul, causes an accident while driving his own truck for the business.
Matthew's BACF shows symbol 1 for liability coverage. Which one of the following correctly
indicates whether
Paul is an insured under the policy for the accident?: Paul is not covered because employees
are not insured while using their own autos in the named insured's business.




,15. ABC Corporation is insured under a standard unendorsed workers compensation
policy for only the state of Florida. Three months before the present policy began, ABC
opened a sales office in Georgia due to business volume growing in that state. ABC failed to
report the new location and new state at policy inception. The manager of the Georgia office
fell and was injured and missed work for three weeks after the inception of the ABC policy.
The manager made claim for Georgia benefits. Which one of the following is true regarding
ABC's coverage for Georgia benefits?: Coverage for this claim would not be covered by ABC's
insurance.
16. The claims-made trigger in a site specific environmental impairment liability policy
differs in three ways from the trigger in other claims-made liability policies. Which one of
the following best describes one of those three ways?: A site-specific environmental
impairment liability policy typically does not have a retroactive date.
17. The Grey Corporation has a Commercial General Liability Coverage Form with the
following limits:
Each Occurrence $1,000,000
Damage to rented premises $100,000 each occurrence
Medical expense $5,000 any one person
Personal and advertising injury $1,000,000 any one person or organization
General aggregate limit $2,000,000
Product/completed operations aggregate limit $2,000,000
Assuming the policy is written on an occurrence basis, how much of the general aggregate
limit, if any, remains if the following claims have been paid under the policy? a
premises/operations liability claim of $600,000 a products liability claim of $1,200,000
$3,000 of medical expenses to a customer injured on the premises. a personal and
advertising injury liability claim of $300,000: The general aggregate is reduced by any
amounts paid under Coverages A, B, and C, except for those that arise out of
products/completed operations. Therefore, the general aggregate limit is reduced by
$600,000 + $3,000 + $300,000 = $903,000. This leaves $1,097,000 of the general aggregate
limit remaining.
18. An example of liability imposed by statute is: Workers compensation.
19. n July of 2010 the Dodd-Frank Act was passed in response to the public's demand for
improvements in financial systems and to curb abusive Wall Street practices. A
significant provision of the Dodd-Frank Act was the: Abolishment of the Troubled Asset
Relief Program (TARP).
20. The supplemental payments section of the Commercial General Liability coverage form
is most correctly defined as: The supplemental payments section of the Commercial
General Liability coverage form is most correctly defined as specified costs the insurer will
pay as part of any claim the insurer investigates or defends under Coverage A or B
21. Excess liability policies: Do not provide coverage for exposures not covered in primary
policies.


, 22. Part Two of the Workers Compensation and Employers Liability Policy (WC&EL) is the
employers liability portion of the policy. Under this portion of the policy the insurer
would pay for: Common law liability for occupational injury to employees,
23. Some state no-fault laws preserve the tort system but require insurers to offer personal
injury protection (PIP) insurance that provides specified first-party benefits. This is
referred to as: An add-on no-fault law.
24. Loss reduction techniques are intended to reduce the: Severity of losses. 25. Tom and
Jerry own a General Motors vehicle dealership, and they have purchased an Auto
Dealers Coverage Form (ADCF) with the False Pretense Coverage endorsement. In
January, Chuck (one of their salespeople) makes a deal with Max for a new car. Chuck
gives Max $30,000 for his two trade-in vehicles and Max drives away with a new car
worth $40,000. Later that week, the dealership business office discovers that Max did
not have proper title to either of the trade-in vehicles, and now the dealership cannot
sell them.How much, if anything, will Tom and Jerry's ADCF pay towards the loss
suffered by the taking of these two cars?: Tom and Jerry's ADCF will pay $25,000 for this
loss - the maximum amount payable under the False Pretense endorsement for losses
caused by any one person in a year.
26. Larry is an employee of XYZ Company and works solely in State A which is the only state
listed on XYZ's workers compensation policy. XYZ obtained a small job in neighboring
State B and while Larry is working in State B he injured himself. Which one of the
following would be the response from XYZ's workers compensation insurer to Larry's
claim for benefits?: It would provide
State A workers compensation benefits to Larry
27. QRS, LLC has been a small town's largest employer for a long time. When the owner of
QRS, LLC died, the company was forced to lay off 25 percent of its workforce, because
the proper life insurance was not in force for the owner. These mass lay-offs resulted in
bad publicity in the town paper and much negativity directed at the company in various
town meetings. The employment practices liability (EPL) policy in force for QRS, LLC
provided money to cover QRS's costs to retain a PR firm.Such costs are called:
Reputation management costs.
28. Mitchell is a highway contractor whose company is covered with a workers
compensation policy and an unendorsed Business Auto Coverage Form (BACF). Which
one of the following losses would be covered by his business auto policy?: An employee
runs over a subcontractor's equipment with an owned auto.
29. Which one of the following statements is true about an excess policy?: It provides
coverage no broader than is provided by underlying polices.
30. Although professional liability policies for financial and legal professionals contain many
of the same provisions of those for other professionals, there are important differences.
Which one of the following would be covered under the professional liability policies for

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