Cpcu 551 exam - Study guides, Class notes & Summaries

CPCU 551 Exam Questions and Correct Solutions 2024 A building had been vacant for 60 days, and the insurer didn't know about it, when it sustained 100K, 5K, and 1K losses due to windstorm, theft, and sprinkler leakage, respectively. What amount is covered under CPP? - Answer -85K, 0, and 0. If a building is vacant for 60 or more consecutive days before the loss, they won't pay for any loss caused by vandalism, sprinkler leakage, building glass breakage, water damage, theft, or attempted ...

An example of an administrative expense that can minimize the cost of risk is Risk management consulting The availability of funds to pay for losses is most important to organizations when Operations have been disrupted A self-supporting solid wall that prevents a fire from passing through or around it is a Fire wall A building with concrete exterior walls and wooden support beams as defined by Insurance Services Office, Inc. (ISO) Joisted masonry The analysis step of the risk manage...

CPCU 551 Exam Questions With 100% Correct Answers | Verified 2023

A building had been vacant for 60 days, and the insurer didn't know about it, when it sustained 100K, 5K, and 1K losses due to windstorm, theft, and sprinkler leakage, respectively. What amount is covered under CPP? - 85K, 0, and 0. If a building is vacant for 60 or more consecutive days before the loss, they won't pay for any loss caused by vandalism, sprinkler leakage, building glass breakage, water damage, theft, or attempted theft... otherwise you'll only get 85% Various building de...

The Causes of Loss—Special Form is a commercial property form that covers causes of loss that are not specifically excluded. One reason to purchase this form is It shifts the burden of proof to the insurer to prove a loss is excluded Which one of the following Additional Coverages is covered under the Causes of Loss—Special Form but not under the Causes of Loss—Broad Form? Property in Transit The Causes of Loss—Special Form provides coverage for which one of the following sce...

Discovery form-Form that covers losses discovered during the policy period even though they may have occurred before the policy period. D (Compared with loss sustained form, re: commercial crime. Loss sustained is the most commonly used of these two.) D Loss sustained form-Form that covers losses actually sustained during the policy period and discovered no later than one year after policy expiration. ... (Compared with discovery form, re: commercial crime. Loss sustained...

CPCU 551 EXAM WITH 100% CORRECT ANSWERS.

CPCU 551 EXAM Questions With 100- Correct Answers Verified Latest Updates 2024 GRADE A+

CPCU 551 Exam Compilation Questions with 100% Correct Answers | Verified | Latest Update A building had been vacant for 60 days, and the insurer didn't know about it, when it sustained 100K, 5K, and 1K losses due to windstorm, theft, and sprinkler leakage, respectively. What amount is covered under CPP? - 85K, 0, and 0. If a building is vacant for 60 or more consecutive days before the loss, they won't pay for any loss caused by vandalism, sprinkler leakage, building glass breakage, water da...

CPCU 551 - Chapter 1 Exam With 100% Correct Answers 2023 Exposure avoidance abandons or avoids the loss situation, thus eliminating all possibility of loss Proactive avoidance occurs when a firm avoids ever incurring a particular loss exposure Abandonment occurs when a firm eliminates an existing loss exposure Loss prevention reduces loss frequency Loss reduction reduces loss severity Separation disperses resources over two or more locations Dupl...