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CPCU 552 questions and answers graded A+ 20254/2025
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CPCU 552 questions and answers graded A+ 20254/2025
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CPCU 552Which such a isn't an instance of a insurance that is excluded underneath Coverage A of the
CGL coverage shape due to the fact it's far insured underneath any other policy? - ANSLiquor
liability (Liquor legal responsibility isn't an instance of a coverage that is excluded under
Coverage A of the CGL coverage form because it's miles insured below another policy.
An endorsement that removes the liquor legal responsibility exclusion and gives insurance for
companies inside the enterprise of promoting or serving alcoholic liquids is an instance of which
type of endorsement? - ANSMiscellaneous insurance change endorsement (
Which one of the following is real regarding the Commercial General Liability's (CGL's)
unmanned plane coverage endorsements? - ANSPremium for these endorsements is on a
"confer with organisation" foundation.
Jill, who is the named insured on an unendorsed Business Auto Coverage Form (BACF), hired
Jimmy to assist in her business. Jill requested Jimmy to buy some business materials. While he
was driving his own automobile, Jimmy's vehicle become hit by an uninsured motorist. Jimmy's
scientific fees have been $2,000, and the harm to his vehicle changed into $4,000. Which one of
the following successfully shows how an awful lot Jill's auto insurer will pay Jimmy for his
losses? - ANS$0 (An worker of the insured isn't an insured if the included automobile is owned
via the employee.
An automobile supplier advertises that a brand new car is to be had for $18,000 and not using a
down price and an interest rate of one percentage. A client tries to purchase the automobile,
however is informed that the rate is now $21,000 and the interest charge is nine percentage.
The consumer files in shape, alleging false advertisement of charges and failure to comply with
the Truth in Lending Act. Which one of the following effectively describes coverage for this claim
under the Auto Dealers Coverage Form? - ANSThere may be insurance for the failure to
conform with the Truth in Lending Act, however no longer for the false advertisement of fees.
(There can be coverage for the failure to comply with the Truth in Lending Act, but no longer for
the false commercial of prices.
A declare consultant is managing a claim for an vehicle dealership insured below the Auto
Dealers Coverage Form (ADCF). Several new autos and autos left for service by way of
customers were broken whilst a fireplace began inside the carrier building. The consultant has
confirmed that the loss occurred to the named insured at an insured place at some stage in the
policy length; that Sections I and II of the ADCF practice to the losses and that the automobiles
qualify as blanketed autos. The next step that the consultant have to take in figuring out whether
coverage applies is to - ANSReview the coverage situations to decide whether they ward off
insurance at the time of loss. (The next step that the representative should soak up determining
,whether insurance applies is to check the policy situations to decide whether they prevent
coverage at the time of loss.
The Motor Carrier Coverage Form (MCCF) covers proprietors and lessors of automobiles hired
with the aid of the named insured, concern to situations. When the hired automobile is a trailer,
the proprietor, or all and sundry else from whom the named insured hires or borrows a protected
trailer, is an insured whilst the trailer is hooked up to a strength unit that could be a covered car
or while the trailer is - ANSNot related to a electricity unit but is getting used exclusively within
the named insured's enterprise. (The owner is an insured at the same time as the trailer is
connected to a energy unit that is a covered auto or while the trailer is not linked to a energy unit
however is being used exclusively in the named insured's business.
Which one of the following would continually be excluded below employers liability coverage? -
ANSAn employee documents a claim for melancholy due to harassment at paintings.
Bill's Premium Packing (BPP) operates a fruit and vegetable canning operation. It purchases its
produce from growers in 3 states in the Northeast. As a result, its operations are seasonal and
at some stage in top durations it relies upon on large numbers of informal workers who're
exempt from coverage under the relevant country workers reimbursement laws. Therefore, the
company has purchased a Voluntary Compensation and Employers Liability Endorsement for its
Workers Compensation and Employers Liability Insurance (WC&EL) Policy. When a informal
laborer is wrongly injured on the process, the employee launches a lawsuit in opposition to BPP,
alleging negligence. Which one of the following satisfactory describes how BPP's WC&EL
insurer would reply? - ANSThe insurer might defend the insured against the worker's fit and pay
any settlement provided, subject to the stipulated limits of legal responsibility.
Some corporations including college forums, municipalities, and non-earnings corporations
carry a special kind of directors and officials (D&O) legal responsibility coverage. What is the
call given to this kind of D&O coverage? - ANSOccupation-specific
An unendorsed securities agents professional liability coverage will insure the company and
registered representatives for claims alleging negligence devoted on the firm's behalf in which
one of the following capacities? - ANSSelling life insurance merchandise (An unendorsed
securities brokers expert legal responsibility coverage will insure the company and registered
representatives for claims alleging negligence devoted on the company's behalf even as selling
existence insurance merchandise.
Concerning environmental liability, any company can motive an intentional tort by means of -
ANSMaking loud noises. (Concerning environmental legal responsibility, any enterprise can
motive an intentional tort via making loud noises.
A vessel worth $forty million is carrying cargo for two clients. One customer's shipment includes
$6 million of hand-held digital games. The different consumer's cargo consists of $4 million of
fashion designer shoes. During a hurricane, the group throws overboard $1.Five million in
, shipment to prevent the vessel from sinking. What is the contribution to preferred common for
the patron who owns the footwear? - ANS$one hundred twenty,000 (The contribution to
standard common for the consumer who owns the shoes is $one hundred twenty,000.
$4M/$50M = .08; .08 x $1.5M = $120,000
Which one of the following events might generally cause the automatic termination provisions of
a marine policy and cancel the hull coverage on a shipment vessel? - ANSThe deliver is
chartered by way of a third birthday party on a bareboat basis. (War hazard coverage is
excluded, however the policy would remain in pressure; a bareboat charter might terminate the
policy.
Which one of the following belongings damage-type coverages below a Protection and
Indemnity policy covers only shipment of other vessels because of the insured's negligence? -
ANSDamage to cargo of others (Damage to cargo of others is a property harm-kind coverage
that covers most effective cargo of different vessels due to the insureds negligence.
XYZ maintenance non-public pleasure boats at its provider facility on Lake Sinclair. XYZ
regularly has to preserve the boats in its store for a few days, and for this reason XYZ has a
bailee liability exposure even as the boats are in its care, custody and manipulate. Which one of
the following marine coverage policies would pleasant protect XYZ from its bailee liability
exposure? - ANSMarina operators liability coverage policy
A component components schedule would be attached to an aircraft policy while underwriting
which one of the following mainly? - ANSA very old plane or one in every of distinctly low value
(A component parts time table might be connected to an plane policy while underwriting a very
old aircraft or one in all relatively low cost.
Which one of the following is proper concerning disclosures and endorsements relating the
Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIPRA 2015)? - ANSThe
endorsements outline an insured loss as any loss because of an act of terrorism, and for
purposes of people compensation insurance, the endorsements consist of acts of struggle.
(Endorsements concerning TRIPRA 2015 define an insured loss as any loss because of an act
of terrorism, and for purposes of workers repayment coverage, the endorsements include acts
of warfare.
A huge scrap metal provider sends product to its warehouse in Mexico before it is offered to
producers of vehicle components. The scrap metallic supplier is centered within the United
States and covers its foreign chance exposures by using an global bundle policy. The insurer
that troubles the policy is maximum probable domiciled in - ANSThe United States.
The Better Hardware Store recently hooked up new floors to limit the hazard that clients will slip
and injure themselves. This danger management approach is an instance of - ANSLoss
prevention.
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