Cpcu 557 terms exam 2024 - Study guides, Class notes & Summaries

CPCU 557 TERMS EXAM 2024 Parties affected by property loss with descriptions (3) - correct answer 1. Property owners: affected directly by lost, damaged, or destroyed property 2. Secured lenders: conditional rights to property (e.g. right to repossess) 3. Property holders: consideration of property held for others (bailee) Conditions for covered BPP (2) - correct answer 1. The property must be located in or on the described building. 2. The property must be located in the open (or in ...