BigDaddy U | CPCU 520 Practice Exam
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CPCU 520 Practice Exam

CPCU 520 Practice Exam

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1. Which one of the following statements is correct regarding the premium auditing process?

2. A rating plan that awards debits and credits on specific categories, such as the care or condition of the premises, to modify the final premium is referred to as:

3. Which one of the following statements is correct regarding the law of bad faith?

4. The main purpose of underwriting is to:

5. Which one of the following statements is correct regarding premium audits?

6. Which one of the following represents one of the roles of an actuary?

7. A SWOT analysis is applied during which stage of the strategic management process?

8. The main goal of the investors in a proprietary insurance company is to:

9. Which one of the following represents the role of the courts in the regulation of insurance policies?

10. Which one of the following insurance consumers is most likely to have highly complex insurance needs?

11. Which one of the following statements is correct regarding approaches to global expansion?

12. Which one of the following statements is correct regarding ratemaking data aggregation methods?

13. Which one of the following statements is correct regarding external constraints that may prevent an insurer from meeting their goals?

14. Which one of the following represents a typical activity of a state insurance commissioner?

15. Which one of the following statements is correct regarding elements of good-faith claim handling?

16. Which one of the following statements is correct regarding security and control in information systems?

17. All of the following represent reasons why increased limits factors in general liability insurance are large, EXCEPT:

18. An insurance company is licensed to do business in its home state of Texas but is not licensed to do business in Oklahoma. With respect to Oklahoma, the insurer is:

19. Which one of the following statements is correct regarding professional reinsurers?

20. Which one of the following statements is correct regarding state guarantee funds?


 

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