CPCU 551 Q&A Bundle

Boiler A fired pressure vessel constructed of cast iron or steel in which water is heated to produce steam or hot water. Heated by direct fire of burning fuel Fired pressure vessel A closed container that is heated by the direct fire of burning fuel and can withstand internal pressure Unfired ...

"write your own" a program allowing private insurers to write flood insurance under the national flood insurance program emergency program initial phase of a community's participation in the National Flood Insurance Program in which property owners in flood areas can purchase limited amounts o...

Blanket Insurance Insurance that covers either of the following with one limit of insurance: (1) one type of property in one or more separately rated buildings or (2) two or more types of property in one or more separately rated buildings. A disadvantage of blanket insurance is that the minimum c...

Question 1 ID# 5926848Points: 1 Flag Question Question text A self-supporting solid wall that prevents a fire from passing through or around it is a Select one: A. Hostile fire. B. Fire wall. C. Fire division. D. Fire stop. b Question 2 ID# 5855905Points: 1 Flag Question Question text...

An example of an administrative expense that can minimize the cost of risk is Risk management consulting The availability of funds to pay for losses is most important to organizations when Operations have been disrupted A self-supporting solid wall that prevents a fire from passing through or ...

Question 1 ID# 5856418Points: 1 Flag Question Question text One dimension of analyzing loss exposures is timing of losses. The timing of losses is significant because Select one: A. Funds to pay for losses must be readily available and paid in full for valid claims. B. Accurate reserves must ...

4 elements to property loss exposures -assets exposed to property loss -the causes of loss -the potential financial consequences of loss -the parties that can be affected by loss- (Property Owners, Secured Lenders, and Property Holders) Property Loss Exposure A condition that presents the poss...