Cpcu 553 test Study guides, Class notes & Summaries

CPCU 553 Test Questions with Correct Answers One disadvantage of the tort liability system for compensation of auto accident victims is that Select one: A. It does not provide a remedy for victims of irresponsible drivers who cause accidents. B. There are substantial time delays in reaching a settlement either through negotiation or through the courts. C. It does not allow punitive damage awards to be included as part of the compensation. D. The minimal amount of protection is generally ...

CPCU 553 Test Questions with Correct Answers One disadvantage of the tort liability system for compensation of auto accident victims is that Select one: A. It does not provide a remedy for victims of irresponsible drivers who cause accidents. B. There are substantial time delays in reaching a settlement either through negotiation or through the courts. C. It does not allow punitive damage awards to be included as part of the compensation. D. The minimal amount of protection is genera...

CPCU 553 Test Questions with All Correct Answers Which one of the following statements is true regarding no-fault automobile insurance? - Answer-No-fault laws generally apply only to injuries and not to damage to property. A state's no-fault automobile insurance law permits an injured party who experiences permanent disfigurement to sue the responsible party for noneconomic loss. This feature of the no-fault law illustrates - Answer-This example illustrates a verbal threshold. automobile...

CPCU 553 Test Questions with All Correct Answers Which one of the following statements is true regarding no-fault automobile insurance? - Answer-No-fault laws generally apply only to injuries and not to damage to property. A state's no-fault automobile insurance law permits an injured party who experiences permanent disfigurement to sue the responsible party for noneconomic loss. This feature of the no-fault law illustrates - Answer-This example illustrates a verbal threshold. automob...

CPCU 553 Practice Test Questions and Answers T/F: retirement investment portfolio is example of Asset exposed to loss - Answer-True EX of Real Property - Answer-- Brick storage shed - Underground Pipes/flues - detached garage EX of Personal Property - Answer-- Sport equipment - silverware - fishing boat - household appliances - Motorhome / automobile Compensatory Damages - Answer-- Special Damages - Liability Loss - Answer-claim for money damages bc of injury to an...

CPCU 553 Test Questions with Correct Answers One disadvantage of the tort liability system for compensation of auto accident victims is that Select one: A. It does not provide a remedy for victims of irresponsible drivers who cause accidents. B. There are substantial time delays in reaching a settlement either through negotiation or through the courts. C. It does not allow punitive damage awards to be included as part of the compensation. D. The minimal amount of protection is genera...

CPCU 553 Test Questions with All Correct Answers Which one of the following statements is true regarding no-fault automobile insurance? - Answer-No-fault laws generally apply only to injuries and not to damage to property. A state's no-fault automobile insurance law permits an injured party who experiences permanent disfigurement to sue the responsible party for noneconomic loss. This feature of the no-fault law illustrates - Answer-This example illustrates a verbal threshold. automob...

CPCU 553 Practice Test Questions and Answers T/F: retirement investment portfolio is example of Asset exposed to loss - Answer-True EX of Real Property - Answer-- Brick storage shed - Underground Pipes/flues - detached garage EX of Personal Property - Answer-- Sport equipment - silverware - fishing boat - household appliances - Motorhome / automobile Compensatory Damages - Answer-- Special Damages - Liability Loss - Answer-claim for money damages bc of injury to another party or t...

CPCU 553 Final Test Questions with Correct Answers According to the National Safety Council, what percentage of disabling accidents and illnesses are work-related? Select one: A. Fewer than one-half of Social Security Disability Insurance claims are approved. B. About 4 percent of Americans are disabled. C. The average benefit paid by Social Security Disability Insurance is almost $3,000 per month. D. Only about five percent of Americans entering the work force today will become disabled b...