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CP&L FINAL EXAM NEWEST 2025 ACTUAL
EXAM COMPLETE 200 QUESTIONS AND
CORRECT DETA ILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+||BRAND
NEW VERSION!!
- 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: One of the coverage limits applies to physical damage
to property owned by or leased or entrusted to the railroad*
Explanation: This form protects railroad property, with a
specific limit for physical damage caused by contractors.
- Which one of the following statements about the general
aggregate limit under a Commercial General Liability (CGL) Coverage Form is true?
Correct: It is not reduced by claims paid for medical payments
under Coverage C (the statement "It is reduced by claims paid for medical payments under Coverage C" is false)*
Explanation: Medical payments (Coverage C) have a separate
per-person limit and do not reduce the general aggregate, which applies to Coverages A and B.
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- Tom often runs errands for his boss at XYZ Company, using
the boss' car. On one of these errands, Tom is involved in a serious auto accident. Does XYZ's Workers Compensation and Employers Liability Insurance (WC&EL) Policy cover Tom's injuries, lost income, and rehabilitation expenses?
Correct: Yes, the workers compensation policy would pay all
of Tom's expenses, because his injuries arose out of his employment at XYZ Company*
Explanation: Injuries during work-related tasks, like driving
the boss’s car, are covered under workers compensation.
- Aircraft have a significant exposure to catastrophe losses. Of
the many reasons for the catastrophic loss potential of aircraft,
the most significant is:
Correct: The physical properties of aircraft*
Explanation: Speed, altitude, and density make aircraft
accidents severe, highlighting physical properties as the key risk factor.
- A security guard at a pier trips over equipment near a pleasure
craft and is injured. The pier has only Longshore and Harbor
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Workers Compensation Act (LHWCA) coverage. Is the guard's injury covered under LHWCA?
Correct: The injury is covered by LHWCA because the guard
is not covered under a state's workers compensation law*
Explanation: LHWCA covers maritime workers, preempting
state workers comp for pier-related injuries.
- ABC Plumbing’s contract with Bill includes a $1,000 per day
penalty for late septic system installation. Which category of damages does this fall into?
Correct: Liquidated damages*
Explanation: Pre-agreed penalties for delays are liquidated
damages, ensuring predictable compensation.
- Many states have funds from which employers may purchase
workers compensation insurance. Such funds may be either:
Correct: Competitive or monopolistic*
Explanation: Competitive funds offer choice; monopolistic
funds mandate state-run insurance.
- Which statement regarding who is considered an insured
under Section II of the CGL Coverage Form is most accurate?
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Correct: When a CGL policy covers one or more individuals
as named insureds, any person or organization having proper temporary custody of the named insured's property following the named insured's death is an insured*
Explanation: This extends coverage to custodians post-death,
typically for 90 days.
- What is the name given to a claim by an employee who says
they were fired for filing a workers compensation claim?
Correct: Retaliation claim*
Explanation: This protects employees from employer reprisals
for exercising legal rights.
- Javier’s business auto policy has a PIP endorsement. After
an accident (his fault) with $30,000 property damage, $5,000 third-party bodily injury, and $10,000 personal medical
expenses, how much will his insurer pay under PIP (limits:
$100,000 general aggregate, $15,000 PIP)?
Correct: $10,000*
Explanation: PIP covers first-party medical expenses up to
$15,000, regardless of fault, fully paying Javier’s $10,000.