Cpcu 557 - Study guides, Class notes & Summaries

CPCU 557 Chapter 1

BPP Loss Conditions - Answer- Abandonment Appraisal Duties in the Event of Loss or Damage Loss Payment Recovered Property Vacancy Valuation Coinsurance Mortgageholder What are the 4 Loss Payment options? - Answer- 1. Pay the Amount of the Damage 2. Pay the cost of repairing or replacing the damaged property 3. Take all or any part of the property and pay either agreed or appraised price 4. Repair/replace with LKQ When will vacancy be covered? - Answer- if building has been vacan...

CPCU 557 Questions And Answers | Verified Solutions 2023 CPCU 557 Questions And Answers | Verified Solutions 2023

CPCU 557 Chapter 1

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CPCU557 Chap 1 Questions with correct Answers Graded A+ Three ways of analyzing commercial property loss exposures -️️ types of property causes of loss to property financial consequences of property losses Two types of property -️️ real property personal property real property -️️ tangible property consisting of and, all structures permanently attached to the land, and whatever is growing on the land ex: buildings, land, underground piping, radio transmission towers propert...

CPCU 557 Chap 8 Questions and Answers Already Passed Doctrine of Respondeat Superior - ️️ Aka let the master answer Liability falls on the employer for the employees actions (as long as they were in the scope) Employers Nonownership liability - ️️ An employer's liability for its employees' operation of their autos in the employer's business. Covered by commercial auto insurance. Garage coverage form - ️️ contains optional garagekeepers coverage for insuring loss to custom...