Exam (elaborations)
CPCU 553 Questions and Answers (100% Pass)
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CPCU 553 Questions and Answers (100% Pass)
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1|Page | © copyright 2024/2025 | Grade A+CPCU 553 Questions and Answers
(100% Pass)
Base premium is influenced by
✓ dwelling location, public protection class, construction factors,
coverage amount, and policy form selected.
Special Limit of Liability for: Cash
✓ $200
Special Limit of Liability for: Loss by theft of firearms and related equipment
✓ $2500
Special Limit of Liability for: Loss be theft of silverware, tea sets, pewter, etc
✓ $2500
Special Limit of Liability for: Property on the residence premises used primarily
for business purposes
✓ $2500
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
Special Limit of Liability for: securities, manuscripts, passports, stamps,
personal records,
✓ $1500
Special Limit of Liability for: watercraft
✓ $1500
Special Limit of Liability for: Property away from the residence premises used
primarily for business purposes and no in a veh
✓ $1500
Collapse
✓ excluded as a cause of loss but coverage for collapse that results from
some other causes of loss is provided under the Section I—Property
Coverages.
Special Limit of Liability for: Loss by theft of Jewelry and Furs
✓ $1500
The Subrogation condition allows...
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ the insured to waive all rights to recover against any person provided
the waiver is in writing and made before a loss.
Home Business Insurance Coverage endorsement /HOMEBIZ
✓ for insureds who operate an office or business from their homes.
HO-2 Broad Form
✓ - designed for the owner-occupant of a house
✓ - provides NAMED PERILS coverage for A, B, and C
✓ - the insured has the burden of proof to prove it was covered.
✓ - has lower premiums
HO-5 Comprehensive
✓ - provides the broadest property coverage
✓ - provides special form for Cov C
HO-8 Modified Coverage
Master01 | October, 2024/2025 | Latest update
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