CPP & The Commercial 
                                                             Property Policy - 
                                                             Module F 
                                                             Quick Notes Study Guide      
         _________________________________________________________________________________________ 
         Instructions for Use: The Quick Notes Study Guide should be printed before 
         listening to the course modules. While viewing and listening to the course 
         modules, take notes on these sheets. Taking notes is especially helpful for 
         students with a Visual or Kinesthetic learning style. Auditory learners find that 
         reading them aloud is helpful in retaining the information. 
         Not all the information needed to complete this study guide is listed on the 
         Virtual Classroom screen. Some information is included only in the audio or 
         embedded videos, so please listen carefully. 
         ________________________________________________________________________________________________________ 
                                             The Builders’ Risk Coverage Form 
          
         The Builders’ Risk coverage form covers __________________________________________________________, 
          
         _______________________________________ and/or ________________________________________________________ 
          
         _________________________________________ under construction and existing buildings undergoing  
          
         ____________________________________________________, alterations, or _________________________________.  
          
         This form applies to: 
             •   _________________________________, 
                  
             •   _________________________________, or 
                  
                                                                       
                           CPP & The Commercial Property Policy – Module F Quick Notes Study Guide - 1 
                 ___________________________________________________________________________________________________ 
                                             Updated 3/29/2019 - Copyright © Insurance Schools, Inc. 
                                       This Quick Notes Study Guide is a companion to the courses offered at: 
                                                          www.insurance-schools.com  
          
          
             •   ________________________________________________________ that are under construction. 
          
         Buildings under construction present a unique risk because the value of the property  
          
         ______________________________________________________________.  
          
         Builders’ Risk coverage can be written on either a ________________________________________________ 
          
         basis or a ___________________________________________________________ basis. 
          
          
         If Builder’ Risk coverage is written on a ____________________________________________________ basis,  
          
         the insured is required to cover the risk for the ___________________________________________________ 
          
         _________________________________________________. This is essentially a ________________________________ 
          
         _________________________________. However, there is no ______________________________________________ 
          
         ________________________________ because the _________________________________________________________ 
          
         provision acts similarly. If the insured does not have the required amount of insurance at the  
          
         time of the loss, ______________________________________________________________________________________ 
          
         ____________________________________________________________________. 
          
          
         If the Builders’ Risk coverage is written on a _____________________________________________ basis,  
          
         coverage begins ___________________________________________________________________________ if the 
          
                                                                       
                           CPP & The Commercial Property Policy – Module F Quick Notes Study Guide - 2 
                 ___________________________________________________________________________________________________ 
                                             Updated 3/29/2019 - Copyright © Insurance Schools, Inc. 
                                       This Quick Notes Study Guide is a companion to the courses offered at: 
                                                          www.insurance-schools.com  
          
          
          building does not __________________________________________________. If the building includes a  
          
         ________________________________, coverage will begin on the date ____________________________________ 
          
         ________________________________________________________________________________________________________. 
          
          
         Under the Builders’ Risk form, coverage is written for _______________________, but will end  
          
         when: 
             •   The owner ____________________________________________________________________________________; 
                  
             •   ____________________ has elapsed since ________________________________________________________; 
                  
             •   The _________________________________________________________ or put to its _____________________ 
                  
                 ________________; 
                  
             •   The insured’s _________________________________________________________________________ ceases; 
                  
             •   The insured ______________________________________________________________________ with no  
                  
                 plans _____________________________________________; or 
                  
             •   Coverage is ________________________________________________________. 
          
         The Builders’ Risk form covers:  
             •   The __________________________________ and its ____________________________________________; 
                  
             •   ____________________________________________________________________________________________ 
                  
                 _____________________________ including scaffolding, construction forms and cribbing, but  
                                                                       
                           CPP & The Commercial Property Policy – Module F Quick Notes Study Guide - 3 
                 ___________________________________________________________________________________________________ 
                                             Updated 3/29/2019 - Copyright © Insurance Schools, Inc. 
                                       This Quick Notes Study Guide is a companion to the courses offered at: 
                                                          www.insurance-schools.com  
          
          
                  
                 only if ________________________________________________________________________________________ 
                  
                 to cover these items. 
                  
             •   _______________________________, __________________________________, and ________________________  
                  
                 used to service the building, and the insured’s ______________________________________ and  
                  
                 __________________________________ if they are intended to become ___________________________ 
                  
                 ___________________________________________ and are located within ____________________________ 
                  
                 ______________________________________________________. 
          
         The Builders’ Risk form also provides an extension of coverage for ______________________________ 
          
         ___________________________________________________ but in the insured’s care, custody or control, as  
          
         long as they are _____________________________________________________________________________________.  
          
         The most that will be paid under this extension is ___________________. 
          
         Property NOT COVERED by the Builders’ Risk form: 
             •   Land or _____________________; 
                  
             •   Lawns, ____________________, _____________________, or ______________________ when outside of  
                  
                 _____________________________ (although a limited amount of $1,000 is added back to the  
                  
                 form under the “additional coverages” if the loss results from __________________________,  
                  
                 _________________________________, _______________________________, ______________________________ 
                                                                       
                           CPP & The Commercial Property Policy – Module F Quick Notes Study Guide - 4 
                 ___________________________________________________________________________________________________ 
                                             Updated 3/29/2019 - Copyright © Insurance Schools, Inc. 
                                       This Quick Notes Study Guide is a companion to the courses offered at: 
                                                          www.insurance-schools.com