100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
ARKANSAS PROPERTY AND CASUALTY INSURANCE EXAM 2024 ACTUAL EXAM COMPLETE 250 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+ $23.99   Add to cart

Exam (elaborations)

ARKANSAS PROPERTY AND CASUALTY INSURANCE EXAM 2024 ACTUAL EXAM COMPLETE 250 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+

 4 views  0 purchase
  • Course
  • ARKANSAS PROPERTY AND CASUALTY INSURANCE
  • Institution
  • ARKANSAS PROPERTY AND CASUALTY INSURANCE

ARKANSAS PROPERTY AND CASUALTY INSURANCE EXAM 2024 ACTUAL EXAM COMPLETE 250 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+

Preview 4 out of 72  pages

  • August 23, 2024
  • 72
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • ARKANSAS PROPERTY AND CASUALTY INSURANCE
  • ARKANSAS PROPERTY AND CASUALTY INSURANCE
avatar-seller
keithdaniel
Page |1


ARKANSAS PROPERTY AND CASUALTY INSURANCE EXAM 2024 ACTUAL
EXAM COMPLETE 250 QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) ALREADY GRADED A+






A hazard is best defined as: - ....ANSWER
>>>>Something that increases the chance of
loss

What is the term for a cause of loss, such as
theft of a car? - ....ANSWER >>>>A Peril

A state requiring that the commissioner agree
that a company's rates are appropriate
before they are made effective used which

, Page |2



type of rating approval? - ....ANSWER
>>>>Prior approval

The following are all true regarding risk
management , except: - ....ANSWER
>>>>Insurance is designed to cover both
intentional & unintentional losses

Which type of risk involves the possibility of
loss or gain? - ....ANSWER >>>>Speculative

A fire sprinkler system installed in a factory is
considered which of the following methods of
managing risk? - ....ANSWER >>>>Reduction

Which of the following statements is not
correct regarding rates and premiums? -
....ANSWER >>>>Rates may only be excessive
if the inside is making up for lossy reserves

, Page |3



An agent for ABC Insurance company is
representing an insured in an insurance
transaction. The principal in the agency
relationship is: - ....ANSWER >>>>ABC
Insurance Company

The Terrorism Insurance Program created by
the TRIA is administered by which of the
following federal entities? - ....ANSWER
>>>>Department of the Treasury

Dividends issued by Stock insurers are paid
to: - ....ANSWER >>>>stockholders

Which of the following is not an element of
an insurable risk? - ....ANSWER >>>>The loss
must be catastrophic

Which of the following has the primary
responsibility of determining acceptable
risks? - ....ANSWER >>>>Underwriter

, Page |4




Which of the following places insurance with
a non-admitted insurer when insurance
cannot be placed with an admitted insurer? -
....ANSWER >>>>Surplus lines producer

Because only the insurance company makes a
promise to pay a future claim, the insurance
contract is: - ....ANSWER >>>>Unilateral

In property insurance, which clause prevents
the insured from relinquishing ownership and
leaving damaged property to the insurer and
claiming a total loss? - ....ANSWER
>>>>Abandonment

The loss of property when the cause of loss is
not known is considered: - ....ANSWER
>>>>Mysterious disappearance

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller keithdaniel. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $23.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75632 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$23.99
  • (0)
  Add to cart