Cpcu 551 exam - Study guides, Class notes & Summaries

CPCU 551 FULL PRACTICE EXAM QUESTIONS WITH 100% CORRECT ANSWERS!!

CPCU 551 EXAM QUESTIONS AND ANSWERS.

CPCU 551 Full Exam Questions With 100% Correct Answers 2023

CPCU 551 EXAM QUESTIONS AND ANSWERS

CPCU 551 Full exam with verified correct answers.

Discovery form - Correct answer-Form that covers losses discovered during the policy period even though they may have occurred before the policy period. (Compared with loss sustained form - Correct answer-re: commercial crime. Loss sustained is the most commonly used of these two.) Loss sustained form - Correct answer-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: commer...

CPCU 551 Full Exam Questions & Answers 2024/2025 Commercial Package Policy (CPP) 1-1 - ANSWERSPolicy that covers two or more lines of business by combining ISO's commercial lines coverage parts Businessowners Policy (BOP) 1-2 - ANSWERSA package policy that combines most of the property and liability coverages needed by small and medium-sized businesses Output Policy 1-3 - ANSWERSA policy that combines, in one form and associated endorsements, all or most of the commercial property co...

CPCU 551 - Module 1-12 Exam With 100% Correct Answers 2023 Real property (realty) Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land. Personal property All tangible or intangible property that is not real property. Intangible property Property that has no physical form. Hostile fire A fire that leaves its intended place, such as a spark that escapes a fireplace and sets the carpet on fire. Co...