Cpcu 553 exam - Study guides, Class notes & Summaries

CPCU 553 Exam Questions with 100% Correct Answers | Verified & Updated Base premium is influenced by - Answer ️️ -dwelling location, public protection class, construction factors, coverage amount, and policy form selected. Special Limit of Liability for: Cash - Answer ️️ -$200 Special Limit of Liability for: Loss by theft of firearms and related equipment - Answer ️️ - $2500 Special Limit of Liability for: Loss be theft of silverware, tea sets, pewter, etc - Answer ️️ - $...

CPCU 553 Exam Questions and Answers

CPCU 553 Exam Questions and Answers | 100% Correct| 2024 Updated Special Damages - Answer️️ -form of compensatory damages for specific, identifiable losses Type of risk transfer - Answer️️ -Insurance; Hold Harmless Agreements; Hedging Unemployment Compensation Program - Answer️️ -sponsored by all states; 2/3 of all previous income Six approaches to compensation of auto victimes - Answer️️ -Tort Liability; Financial Responsibility Laws; Compulsory Insurance Laws; Uninsured ...

CPCU 553 Exam Questions with correct Answers

CPCU 553 Exam Questions with 100% correct Answers | Verified & Updated | 13 Pages One disadvantage of the tort liability system for compensation of auto accident victims is that Select one: A. It does not provide a remedy for victims of irresponsible drivers who cause accidents. B. There are substantial time delays in reaching a settlement either through negotiation or through the courts. C. It does not allow punitive damage awards to be included as part of the compensation. D. The minim...

CPCU 553 Exam

CPCU 553 Chapter 3 Exam Questions and Answers | Verified & Updated | 100% Correct Larry drove his car and was involved in a two-car accident caused by the other driver, who was uninsured. The at-fault driver offered Larry a substantial amount of money in satisfaction of his damages. Larry accepted the money in settlement of his losses and released the other driver from further liability. Larry later submitted an uninsured motorists claim under his Personal Auto Policy (PAP). The uninsured...

A policy issued by a mutual insurer describes each insured's right to vote in the election of the board of directors. This description is most likely found in the policy's Miscellaneous provisions are often unique to a particular type of insurer, such as a description of voting rights for a mutual insurer. All of the following are risk control techniques used by individuals and families, EXCEPT Retention Which one of the following statements regarding assets exposed to loss is true? Ligh...

CPCU 553 Exam Questions with 100% Correct Answers | Verified & Updated Base premium is influenced by - Answer ️️ -dwelling location, public protection class, construction factors, coverage amount, and policy form selected. Special Limit of Liability for: Cash - Answer ️️ -$200 Special Limit of Liability for: Loss by theft of firearms and related equipment - Answer ️️ - $2500 Special Limit of Liability for: Loss be theft of silverware, tea sets, pewter, etc - Answer ️️ - $...