CPCU 552 EXAM NEWEST ACTUAL EXAM WITH 150 UPDATED QUESTIONS AND ANSWERS (VERIFIED ANSWERS) [ALREADY GRADED A+]
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Course
CPCU 552
Institution
CPCU 552
CPCU 552 EXAM NEWEST ACTUAL
EXAM WITH 150 UPDATED QUESTIONS AND
ANSWERS (VERIFIED ANSWERS) [ALREADY
GRADED A+]
Which one of the following does Part Two of the Workers
Compensation and Employers Liability Policy require coverage
with respect to covered injuries? - ANSWER-The injury must...
Which one of the following does Part Two of the Workers
Compensation and Employers Liability Policy require coverage
with respect to covered injuries? - ANSWER-The injury must arise
out of employment necessary or incidental to the insured's work in
a state or territory listed in the policy. (It does not matter whether
the employer is negligent.
A typical securities class action complaint contains an allegation
such as - ANSWER-Insiders have profitably sold their personal
holdings in the company's shares while the share price was
artificially inflated. (A typical securities class action complaint
contains an allegation such as insiders have profitably sold their
personal holdings in the company's shares while the share price
was artificially inflated.
,2|Page
An individual alleges a wrongful act by the director of a company.
In order to classify the allegation as a claim under a directors and
officers policy, which one of the following must occur? -
ANSWER-A written demand for monetary or non-monetary relief.
(In order to classify the allegation as a claim under a directors and
officers policy, a written demand for monetary or non-monetary
relief must occur.
The former director of a microchip manufacturing company has
recently been hired by a computer manufacturing company. The
microchip manufacturing company alleges that the director has
breached a confidentiality agreement signed at his departure and
revealed trade secrets regarding the microchip manufacturing
company to the computer manufacturing company. The microchip
manufacturing company further alleges that this has resulted in
the computer manufacturing company being awarded a significant
contract meant for the microchip manufacturing company. Under
a typical directors and officers (D&O) liability policy, the director's
legal fees and other losses indemnified by the company would be
paid under - ANSWER-Coverage B. (The director's legal fees and
other losses indemnified by the company would be paid under
Coverage B.
,3|Page
Which one of the following is often covered under fiduciary liability
policies? - ANSWER-Claims arising under the Consolidated
Omnibus Budget Reconciliation Act (COBRA) (Claims arising
from the failure to properly fund a plan are usually excluded.
A company has had significant declines in an employee benefit
plan. Significant abuses and underfunding have left the benefit
plan on the brink of being insolvent. When employees file a suit
against the company, which one of the following policies would
respond? - ANSWER-Fiduciary liability insurance policy (Fiduciary
liability insurance policy would respond.
In July of 2010 the Dodd-Frank Act was passed in response to the
public's demand for improvements in financial systems and to
curb abusive Wall Street practices. A significant provision of the
Dodd-Frank Act was the - ANSWER-Abolishment of the Troubled
Asset Relief Program (TARP). (It is the abolishment of the
Troubled Asset Relief Program (TARP).
, 4|Page
In the context of professional liability exposures for insurers,
extra-contractual damages are those damages that are awarded -
ANSWER-In excess of the policy limit. (In the context of
professional liability exposures for insurers, extra-contractual
damages are those damages that are awarded in excess of the
policy limit.
Which one of the following statements concerning the legal
foundations for the professional liability exposure of architects and
engineers is most accurate? - ANSWER-Claims against architects
and engineers are more likely to hinge on the interpretation of
contracts than on the application of common law principles.
(Claims against architects and engineers are more likely to hinge
on the interpretation of contracts than on the application of
common law principles.
An insurance policy that covers third party claims arising from
either sudden or gradual release of pollutants from specified
locations is known as - ANSWER-Site-Specific Environmental
Impairment Liability policy. (An insurance policy that covers third
party claims arising from either sudden or gradual release of
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