Here is a super short, quick tip: several of the CPCU® courses discuss a concept called bailment, which is when someone temporarily gives possession of their property to another party. Bailor refers to the original property owner, while bailee refers to the person who temporarily has possession of the property. Distinguishing between the two parties is important to getting your test questions right, but their similarity makes it easy to mix the two up. One easy way to remember the difference? Bailor has an O for owner!
Learn other tricks to help you pass your exams!
Use our CPCU study guide bundles, filled with lots of tips and tricks to help you remember important concepts for the exam!
Disclaimers: The Institutes, CPCU®, and AINS® are trademarks of the American Institute For Chartered Property Casualty Underwriters, d/b/a The Institutes. InsuranceExamGuides.com is not affiliated or associated with The Institutes in any way, and The Institutes do not endorse, approve, support, or otherwise recognize InsuranceExamGuides.com or its products or services. CPCU® and AINS® are registered trademarks of The Institutes. All rights reserved.