Exam (elaborations)
CPCU 551 – Focus Questions And Answers With Verified Solutions 100% Correct!!!
- Course
- Institution
CPCU 551 – Focus Questions And Answers With Verified Solutions 100% Correct!!!
[Show more]
Content preview
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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller classhub. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80461 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now