Free The Institutes CPCU-500 Exam Dumps Questions & Answers

John owns an office building that he leases to Tim. John's insurer, Top Insurance, has relinquished its right to collect from Tim if Tim negligently causes a fire that damages John's building. Top Insurance's relinquishment of its right is known as

• A.  Indemnification
• B.  Subrogation
• C.  Waiver of subrogation
• D.  Contribution

A proper meeting includes effectively spurring action, triggering accountability, and driving results. These include listing what was decided, upcoming deadlines, action steps, and copies of reports/slides. Which one of the key phases of running an effective meeting would these be found in?

• A.  Preparation
• B.  Participant management
• C.  Ground rules
• D.  Follow up

James must sell his house quickly to take advantage of a career opportunity and purchase a new house in another state. Which one of the following types of financial risk is James exposed to in this situation?

• A.  Credit risk
• B.  Interest rate risk
• C.  Liquidity risk
• D.  Exchange rate risk

Daniel was asked to give a presentation to employees on the topic of cyber risk. While preparing for the presentation, he thought about the most important thing that he wanted employees to take away from the presentation. Which one of the following steps in the communication process has Daniel completed?

• A.  Set a clear communication objective
• B.  Ask for feedback
• C.  Identify potential problems
• D.  Analyze your audience

The risk manager for Blue Manufacturing is trying to decide if the company needs an Equipment Breakdown policy. Which one of the following losses would be covered by equipment breakdown insurance rather than a commercial property policy?

• A.  The damage to an electrical component struck by lightning
• B.  The damage from the explosion of a steam boiler
• C.  The damage from the explosion of a furnace
• D.  The fire damage from the electrical breakdown of a circuit breaker