Cpcu 552 - Study guides, Class notes & Summaries

What costs, covered under general liability policies, might result from a liability claim. Defense and investigation as well as any damages the insured may be liable, might result from a liability claim. Explain how a business can experience a liability loss even if it found not to be legally liable. Even if not found legally liable, a business can have a liabilty loss because it has experienced the cost of investigating and defending against the suit. Identify the elements of the tort of ...

CPCU 552 FINAL EXAM QUESTIONS AND ANSWERS 2024 |Comprehensive Test Bank And Study Guide

CPCU 552 Exam UPDATE ACTUAL EXAM ALL QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) 100% PASS SOLUTION /ALREADY GRADED A+

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The term "you" is used throughout the Commercial General Liability Coverage Form. "You" is defined to include: A) The named insured shown in the declarations. B) The named insured shown in the declarations and any employees of the named insured. C) The named insured and any officers or directors of the named insured's organization. D) All persons or entities who have any type of liability protection under the policy.A Smart Endeavors, a retail clothing store, hired ABC Contractor...

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Which one of the following is a major responsibility of corporate directors? a) to perpetuate a competent board through regular elections b) to manage investments and disbursements of the corporation's assets c) to create the proper annual & interim reports for shareholders d) to establish the procedures & operational goals for each department - ️️a Corporate directors are considered to have met their duty of care if they: a) Discharge their responsibilities according to the sam...

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 Which one of the following statements about the general aggregate limit under a Commercial General Liability (CGL) Coverage Form is true? - correct answer -It is reduced by an claims paid for medica...

6 methods for controlling cyber risk exposures Avoidance, loss prevention, loss reduction, separation, duplication, and diversification. These try to reduce loss frequency, reduce loss severity, or make losses more predictable. 3 categories of cyber loss exposures Property, net income (loss of business income and extra expenses from org's networks or its key customers' or suppliers' networks), and liability. denial-of-service attack Flooding a computer system with data so that it cannot...

Railroad owners commonly require contractors to purchase a Railroad Protective Liability Coverage Form. Which one of the following statements about this form is true? - ️️One of the coverage limits applies to physical damage to property owned by or leased or entrusted to the railroad Which one of the following statements about the general aggregate limit under a Commercial General Liability (CGL) Coverage Form is true? - ️️It is reduced by an claims paid for medical payments under Cov...