Cpcu 553 Study guides, Class notes & Summaries

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

CPCU 553 Exam Questions and Answers

CPCU 553 Exam Questions and Answers All Correct The personal auto policy (PAP) definition of your covered auto includes - Answer-Any vehicle shown in the dec pg, a newly acquired auto, any trailer owned by the named insured, and a temp auto or trailer Regarding the PAP which one of the following includes details on coverage related to state specific laws and regulations - Answer-endorsements An example of an uninsured motor vehicle under the PAP is - Answer-a vehicle which is insured be...

CPCU 553, Chapter 1 questions with correct answers

CPCU 553 - Personal Insurance and Financial Planning | Questions and answers | RATED A+ 2024/25

The personal auto policy (PAP) definition of your covered auto includes correct answers Any vehicle shown in the dec pg, a newly acquired auto, any trailer owned by the named insured, and a temp auto or trailer Regarding the PAP which one of the following includes details on coverage related to state specific laws and regulations correct answers endorsements An example of an uninsured motor vehicle under the PAP is correct answers a vehicle which is insured below the state required minimum...

CPCU 553 - chapter 4 Exam Questions with 100% correct Answers What does the insuring agreement of coverage part D say? - Answer ️️ -Insurer promises to pay for any direct and accidental loss to "your covered auto" or a "non-owned auto" as defined in the PAP, minus the deductible. Describe the two categories of direct and accidental losses to an auto. - Answer ️️ -Collision losses and other than collision (OTC) losses. How is collision defined in the PAP and provide examples: -...

CPCU 553 Personal Insurance Exam Questions and Answers

CPCU 553 - Chapter 8 questions with correct answers

CPCU 553 Personal Insurance Exam Questions and Answers Loss exposure - Answer ️️ -Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs. Cause of loss (peril) - Answer ️️ -The actual means by which property is damaged or destroyed. Property loss exposure - Answer ️️ -A condition that presents the possibility that a person or an organization will sustain a loss resulting from damage (including destruction, taken, or loss of use) t...