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CPCU BUNDLED Exam 2023 with 100% correct answers
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[Show more]Which one of the following businesses would most likely be eligible for coverage under an ISO Businessowners Policy? - correct answer - 
 
Johnson's Hardware purchased business income insurance. Johnson's has monthly revenues of $80,000 and monthly expenses of $60,000. Damage caused by a covered p...
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Add to cartWhich one of the following businesses would most likely be eligible for coverage under an ISO Businessowners Policy? - correct answer - 
 
Johnson's Hardware purchased business income insurance. Johnson's has monthly revenues of $80,000 and monthly expenses of $60,000. Damage caused by a covered p...
Probability - correct answer -The likelihood that an outcome or event will occur 
 
Risk - correct answer -Uncertainty about outcomes, with the possibility that some outcomes can be negative 
 
Pure Risk - correct answer -A chance of loss or no loss, but no chance of gain 
 
Speculative Risk - corre...
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Add to cartProbability - correct answer -The likelihood that an outcome or event will occur 
 
Risk - correct answer -Uncertainty about outcomes, with the possibility that some outcomes can be negative 
 
Pure Risk - correct answer -A chance of loss or no loss, but no chance of gain 
 
Speculative Risk - corre...
Ethical behavior is based on - correct answer -reasoned consideration of all issues surrounding a conflict 
 
Morality is - correct answer -universal and basic to human relationships 
 
Maintaining high ethical standards is best associated with - correct answer -knowledge of law and regulations 
 
T...
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Add to cartEthical behavior is based on - correct answer -reasoned consideration of all issues surrounding a conflict 
 
Morality is - correct answer -universal and basic to human relationships 
 
Maintaining high ethical standards is best associated with - correct answer -knowledge of law and regulations 
 
T...
Railroad owners commonly require contractors to purchase a Railroad Protective Liability Coverage Form. Which one of the following statements about this form is true? - correct answer -One of the coverage limits applies to physical damage to property owned by or leased or entrusted to the railroad 
...
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Add to cartRailroad owners commonly require contractors to purchase a Railroad Protective Liability Coverage Form. Which one of the following statements about this form is true? - correct answer -One of the coverage limits applies to physical damage to property owned by or leased or entrusted to the railroad 
...
Commercial Package Policy (CPP) 1-1 - correct answer -Policy that covers two or more lines of business by combining ISO's commercial lines coverage parts 
 
Businessowners Policy (BOP) 1-2 - correct answer -A package policy that combines most of the property and liability coverages needed by small ...
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Add to cartCommercial Package Policy (CPP) 1-1 - correct answer -Policy that covers two or more lines of business by combining ISO's commercial lines coverage parts 
 
Businessowners Policy (BOP) 1-2 - correct answer -A package policy that combines most of the property and liability coverages needed by small ...
Doctrine of stare decisis - correct answer -The principle that lower courts must follow precedents set by higher courts. 
 
Criminal law - correct answer -The branch of the law that imposes penalties for wrongs against society. 
 
Civil law - correct answer -A classification of law that applies to l...
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Add to cartDoctrine of stare decisis - correct answer -The principle that lower courts must follow precedents set by higher courts. 
 
Criminal law - correct answer -The branch of the law that imposes penalties for wrongs against society. 
 
Civil law - correct answer -A classification of law that applies to l...
True - correct answer --If the jurisdiction of the federal courts is based on diversity of citizenship, the subject matter of the dispute may be which state's law applies 
 
Judical Branch - correct answer --is charged with deciding if another branch of government has the power to enact a new law 
...
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Add to cartTrue - correct answer --If the jurisdiction of the federal courts is based on diversity of citizenship, the subject matter of the dispute may be which state's law applies 
 
Judical Branch - correct answer --is charged with deciding if another branch of government has the power to enact a new law 
...
James wants to pursue a legal claim against his neighbor, but he does not know what kind of dispute resolution procedure is the best choice for his situation. The dispute is over a relatively small amount of money, so James does not want to spend a lot in pursuit of his claim. James wants to be able...
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Add to cartJames wants to pursue a legal claim against his neighbor, but he does not know what kind of dispute resolution procedure is the best choice for his situation. The dispute is over a relatively small amount of money, so James does not want to spend a lot in pursuit of his claim. James wants to be able...
Which one of the following functional areas of Keithly can assist Alex with this audit's irregularity? - correct answer -Special Investigation Unit 
 
Which one of the following best describes a FAIR plan and its insureds? - correct answer -State-run plans with cost spread among private insurers in...
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Add to cartWhich one of the following functional areas of Keithly can assist Alex with this audit's irregularity? - correct answer -Special Investigation Unit 
 
Which one of the following best describes a FAIR plan and its insureds? - correct answer -State-run plans with cost spread among private insurers in...
The expenses associated with adjusting claims are referred to as 
Select one: 
 
A. Prospective loss costs. 
B. Loss adjustment expenses. 
C. Claims costs. 
D. Operating expenses. - correct answer -B. Loss adjustment expenses. 
 
Insurer Y is small but has a specialty insurance market for high-value...
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Add to cartThe expenses associated with adjusting claims are referred to as 
Select one: 
 
A. Prospective loss costs. 
B. Loss adjustment expenses. 
C. Claims costs. 
D. Operating expenses. - correct answer -B. Loss adjustment expenses. 
 
Insurer Y is small but has a specialty insurance market for high-value...
Key questions in determining insurable interest - correct answer -1. What is insurable interest 
2. When must insurable interest exist 
3. Why require insurable interest 
4. What is the legal basis of insurable interest 
5. What happens when insurable interest overlap 
 
Problems associated with mai...
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Add to cartKey questions in determining insurable interest - correct answer -1. What is insurable interest 
2. When must insurable interest exist 
3. Why require insurable interest 
4. What is the legal basis of insurable interest 
5. What happens when insurable interest overlap 
 
Problems associated with mai...
Which one of the following statements is true about an organization's balance sheet? 
 
Select one: 
A. Total liabilities minus owners' equity equals total assets on the balance sheet. 
B. The balance sheet shows the financial position of a business on a specific date. 
C. The balance sheet summar...
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Add to cartWhich one of the following statements is true about an organization's balance sheet? 
 
Select one: 
A. Total liabilities minus owners' equity equals total assets on the balance sheet. 
B. The balance sheet shows the financial position of a business on a specific date. 
C. The balance sheet summar...
Autonomous Vehicle Applications (AVA) is a start-up company that develops safety technologies that can be sold to companies that are producing autonomous vehicles. One technology AVA is developing allows an autonomous vehicle to detect, extract, and analyze images; and then to respond to the images....
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Add to cartAutonomous Vehicle Applications (AVA) is a start-up company that develops safety technologies that can be sold to companies that are producing autonomous vehicles. One technology AVA is developing allows an autonomous vehicle to detect, extract, and analyze images; and then to respond to the images....
Describe the 2 elements of risk - correct answer -1.) Uncertainty of outcomes: risk involves uncertainty about the type of outcome, timing o outcome, or both 
 
2.) possibility of a negative outcome: at least of the potential outcomes is negative 
 
Whats the difference between possibility and proba...
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Add to cartDescribe the 2 elements of risk - correct answer -1.) Uncertainty of outcomes: risk involves uncertainty about the type of outcome, timing o outcome, or both 
 
2.) possibility of a negative outcome: at least of the potential outcomes is negative 
 
Whats the difference between possibility and proba...
Which one of the following statements about the use of drones is true? - correct answer Drones may be equipped with cameras that relay data in real-time 
 
Which one of the following uses infrared light to detect nearby objects? - correct answer Lidar 
 
AMRM Insurance Company sells insurance in Vir...
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Add to cartWhich one of the following statements about the use of drones is true? - correct answer Drones may be equipped with cameras that relay data in real-time 
 
Which one of the following uses infrared light to detect nearby objects? - correct answer Lidar 
 
AMRM Insurance Company sells insurance in Vir...
Two elements of risk - correct answer --uncertainty of outcome 
-possibility of a negative outcome 
 
Uncertainty - correct answer -About the type of outcome, timing of outcome, or both 
 
Possibility - correct answer -An outcome or event may or may not occur 
*Does not quantify risk 
 
Probability...
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Add to cartTwo elements of risk - correct answer --uncertainty of outcome 
-possibility of a negative outcome 
 
Uncertainty - correct answer -About the type of outcome, timing of outcome, or both 
 
Possibility - correct answer -An outcome or event may or may not occur 
*Does not quantify risk 
 
Probability...
In the context of risk, the chance of being injured while driving to and from work, loading a truck at work, moving furniture at home, or falling in an icy parking lot at the mall are all examples of 
 
A. Possibilities. 
 
B. Uncertainties. 
 
C. Probabilities. 
 
D. Losses. - correct answer -A. Po...
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Add to cartIn the context of risk, the chance of being injured while driving to and from work, loading a truck at work, moving furniture at home, or falling in an icy parking lot at the mall are all examples of 
 
A. Possibilities. 
 
B. Uncertainties. 
 
C. Probabilities. 
 
D. Losses. - correct answer -A. Po...
Risk involves the possibility of a negative outcome. Possibility means - correct answer -That an outcome may or may not occur. 
 
Risk can be classified as subjective or objective. Which one of the following statements is correct with respect to these risk classifications? - correct answer -Subjecti...
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Add to cartRisk involves the possibility of a negative outcome. Possibility means - correct answer -That an outcome may or may not occur. 
 
Risk can be classified as subjective or objective. Which one of the following statements is correct with respect to these risk classifications? - correct answer -Subjecti...
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