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CPCU 553 Bundled Exams Questions and Answers 100% Verified and Updated 2024 Graded A
CPCU 553 Bundled Exams Questions and Answers 100% Verified and Updated 2024 Graded A
[Show more]CPCU 553 Bundled Exams Questions and Answers 100% Verified and Updated 2024 Graded A
[Show more]CPCU 553, Chapter 7 Exam Questions and 
Answers | Verified & Updated | 100% 
Correct 
Personal property coverage for watercraft is - Answer ️️ -Provided on a limited basis for 
rowboats and canoes under both the homeowners policy and the DP-3 policy. 
For an urban area subject to riot and civil ...
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Answers | Verified & Updated | 100% 
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Personal property coverage for watercraft is - Answer ️️ -Provided on a limited basis for 
rowboats and canoes under both the homeowners policy and the DP-3 policy. 
For an urban area subject to riot and civil ...
CPCU 553 Chapter 2 Exam Questions with 100% 
Correct Answers | Verified & Updated 
All of the following statements are true of automobile joint underwriting associations (JUAs), 
EXCEPT: - Answer ️️ -In states with joint underwriting associations (JUAs), all auto insurers 
in the state pay their...
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Add to cartCPCU 553 Chapter 2 Exam Questions with 100% 
Correct Answers | Verified & Updated 
All of the following statements are true of automobile joint underwriting associations (JUAs), 
EXCEPT: - Answer ️️ -In states with joint underwriting associations (JUAs), all auto insurers 
in the state pay their...
CPCU 553 Chapter 1 Exam with Questions and 100% 
Correct Answers 
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 - Answer️️ - 
Miscellaneous provisions are often unique...
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Add to cartCPCU 553 Chapter 1 Exam with Questions and 100% 
Correct Answers 
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 - Answer️️ - 
Miscellaneous provisions are often unique...
CPCU 553 Chapter 6 Exam Questions and 
Answers | Verified & Updated | 100% 
Correct 
One of the effects of the Personal Injury Coverage endorsement on an HO-3—Special Form 
(HO-3) is to - Answer ️️ -Add the definition of personal injury. 
Jeremy owns a home covered with an HO-5—Comprehensive...
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Add to cartCPCU 553 Chapter 6 Exam Questions and 
Answers | Verified & Updated | 100% 
Correct 
One of the effects of the Personal Injury Coverage endorsement on an HO-3—Special Form 
(HO-3) is to - Answer ️️ -Add the definition of personal injury. 
Jeremy owns a home covered with an HO-5—Comprehensive...
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 accep...
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Add to cartCPCU 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 accep...
CPCU 553 Chapter 5 Exam Questions and Answers 
|Verified & Updated | 100% Correct 
Under an HO-3—Special Form (HO-3), Coverage C—Personal Property applies to the insured's 
personal property - Answer️️ - Not only in the insured's residence, but anywhere in the world. 
Anne and Dave insure ...
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|Verified & Updated | 100% Correct 
Under an HO-3—Special Form (HO-3), Coverage C—Personal Property applies to the insured's 
personal property - Answer️️ - Not only in the insured's residence, but anywhere in the world. 
Anne and Dave insure ...
CPCU 553, Chapter 8 Exam Questions and 
Answers | Verified & Updated | 100% 
Correct 
Ming purchased a 24-foot inboard motorboat and would like to cover it using special form ("all- 
risks") coverage. Which one of the following types of policies is Ming most likely to purchase? - 
Answer ️️ -S...
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Add to cartCPCU 553, Chapter 8 Exam Questions and 
Answers | Verified & Updated | 100% 
Correct 
Ming purchased a 24-foot inboard motorboat and would like to cover it using special form ("all- 
risks") coverage. Which one of the following types of policies is Ming most likely to purchase? - 
Answer ️️ -S...
CPCU 553 Final Exam Questions and Answers | 
Verified & Updated | 100% Correct 
According to the National Safety Council, what percentage of disabling accidents and illnesses 
are work-related? 
Select one: 
A. Fewer than one-half of Social Security Disability Insurance claims are approved. 
B. Abou...
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Verified & Updated | 100% Correct 
According to the National Safety Council, what percentage of disabling accidents and illnesses 
are work-related? 
Select one: 
A. Fewer than one-half of Social Security Disability Insurance claims are approved. 
B. Abou...
CPCU 553 Chapter 4 Exam Questions and 
Answers | Verified & Updated | 100% 
Correct 
Following an auto accident, Jim's vehicle was towed to a body shop, and it remained there for 
five days for repairs. The damage was covered under the collision coverage of Jim's Personal 
Auto Policy (PAP). Durin...
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Following an auto accident, Jim's vehicle was towed to a body shop, and it remained there for 
five days for repairs. The damage was covered under the collision coverage of Jim's Personal 
Auto Policy (PAP). Durin...
CPCU 553 Simulated Exam Questions and Answers | 
100% Correct | Verified & Updated 
Darlene recently gave her son, Fred, a gift of $100,000 to start a new business. Which one of the 
following correctly describes the federal tax implications of this transaction? - Answer ️️ -A 
portion of the gi...
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Add to cartCPCU 553 Simulated Exam Questions and Answers | 
100% Correct | Verified & Updated 
Darlene recently gave her son, Fred, a gift of $100,000 to start a new business. Which one of the 
following correctly describes the federal tax implications of this transaction? - Answer ️️ -A 
portion of the gi...
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. 
Propert...
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Add to cartCPCU 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. 
Propert...
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 -spo...
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Add to cartCPCU 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 -spo...
CPCU 553 - chapter 10 Exam Questions with 
100% Verified & Complete Answers 
Identify the objective of retirement planning. - Answer ️️ -The objective is to accumulate 
sufficient funds to meet expenses (especially when increased costs for age related expenses such 
as healthcare, long-term care...
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Add to cartCPCU 553 - chapter 10 Exam Questions with 
100% Verified & Complete Answers 
Identify the objective of retirement planning. - Answer ️️ -The objective is to accumulate 
sufficient funds to meet expenses (especially when increased costs for age related expenses such 
as healthcare, long-term care...
CPCU 553 - chapter 9 Exam Questions with 
100% Correct | Verified & Updated 
Describe the costs (6) associated with premature death. - Answer ️️ -1. Lost income 
2. Final costs (funeral costs, medical expenses...) 
3. Outstanding debts (credit cards, mortage,..) 
4. Unpaid long-term obligations ...
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Add to cartCPCU 553 - chapter 9 Exam Questions with 
100% Correct | Verified & Updated 
Describe the costs (6) associated with premature death. - Answer ️️ -1. Lost income 
2. Final costs (funeral costs, medical expenses...) 
3. Outstanding debts (credit cards, mortage,..) 
4. Unpaid long-term obligations ...
CPCU 553 - Personal Insurance and Financial Planning 
Exam with 100% Correct Answers 
Define: Liability loss exposure - Answer ️️ -Any condition or situation that presents the 
possibility of a claim alleging legal responsibility of a person or business for injury or damage 
suffered by another ...
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Add to cartCPCU 553 - Personal Insurance and Financial Planning 
Exam with 100% Correct Answers 
Define: Liability loss exposure - Answer ️️ -Any condition or situation that presents the 
possibility of a claim alleging legal responsibility of a person or business for injury or damage 
suffered by another ...
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 L...
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Add to cartCPCU 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 L...
CPCU 553 - Test Questions with 100% 
Correct Answers 
Which one of the following statements is true regarding no-fault automobile insurance? - 
Answer ️️ -No-fault laws generally apply only to injuries and not to damage to property. 
A state's no-fault automobile insurance law permits an injure...
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Which one of the following statements is true regarding no-fault automobile insurance? - 
Answer ️️ -No-fault laws generally apply only to injuries and not to damage to property. 
A state's no-fault automobile insurance law permits an injure...
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 su...
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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 su...
CPCU 553 Assignment 5 Questions with 100 % 
Correct Answers | 2024 Updated 
Named perils coverage - Answer ️️ -An insurance policy in which the covered causes of loss 
are listed or "named" in the policy. 
Functional replacement cost - Answer ️️ -The cost of replacing damaged property with...
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Add to cartCPCU 553 Assignment 5 Questions with 100 % 
Correct Answers | 2024 Updated 
Named perils coverage - Answer ️️ -An insurance policy in which the covered causes of loss 
are listed or "named" in the policy. 
Functional replacement cost - Answer ️️ -The cost of replacing damaged property with...
CPCU 553 Assignment 2 with 100 % Correct 
Answers | Verified & Updated 
Financial responsibility laws - Answer ️️ -Laws enacted to ensure that motorists have the 
financial ability to pay for any property damage or bodily injury they might cause as a result of 
driving or owning an auto. 
Compul...
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Answers | Verified & Updated 
Financial responsibility laws - Answer ️️ -Laws enacted to ensure that motorists have the 
financial ability to pay for any property damage or bodily injury they might cause as a result of 
driving or owning an auto. 
Compul...
CPCU 553 - chapter 11 Exam with 100% 
Correct Answers 
Described what expenses, other than the costs of living, a primary wage earner who becomes 
disabled or suffers a serious health condition might incur because of that disability or condition. - 
Answer ️️ -The individual would likely incur m...
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Described what expenses, other than the costs of living, a primary wage earner who becomes 
disabled or suffers a serious health condition might incur because of that disability or condition. - 
Answer ️️ -The individual would likely incur m...
CPCU 553 Assignment 1 with Complete & 
Verified Solutions | 2024 Updated 
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 
de...
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Add to cartCPCU 553 Assignment 1 with Complete & 
Verified Solutions | 2024 Updated 
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 
de...
CPCU 553 - Chapter 5 Exam Questions with 
100% Correct Answers 
Identify the 3 general categories into which parties eligible for coverage under the ISO 2011 HO 
insurance program fall. - Answer ️️ -1. Individuals and families who own a private home in 
which they reside 
2. People who rent or l...
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Add to cartCPCU 553 - Chapter 5 Exam Questions with 
100% Correct Answers 
Identify the 3 general categories into which parties eligible for coverage under the ISO 2011 HO 
insurance program fall. - Answer ️️ -1. Individuals and families who own a private home in 
which they reside 
2. People who rent or l...
CPCU 553 - chapter 1 Exam Questions with 
100% Correct Answers 
Loss Exposure - Answer ️️ -Any condition or situation that presents a possibility of loss, 
whether or not an actual loss occurs. 
The three elements of loss exposure - Answer ️️ -A loss exposure is given by the following 
three...
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Add to cartCPCU 553 - chapter 1 Exam Questions with 
100% Correct Answers 
Loss Exposure - Answer ️️ -Any condition or situation that presents a possibility of loss, 
whether or not an actual loss occurs. 
The three elements of loss exposure - Answer ️️ -A loss exposure is given by the following 
three...
CPCU 553 - Chapter 8 Exam Questions with 
100% Correct Answers 
Explain why some insureds might need personal IM insurance. - Answer ️️ -Because of the 
restrictive nature of some personal property coverages under a HO policy. Personal IM policies 
can provide higher limits of insurance for loss...
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Add to cartCPCU 553 - Chapter 8 Exam Questions with 
100% Correct Answers 
Explain why some insureds might need personal IM insurance. - Answer ️️ -Because of the 
restrictive nature of some personal property coverages under a HO policy. Personal IM policies 
can provide higher limits of insurance for loss...
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