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Property and Casualty Insurance License, California Top Questions and answers, 100% Accurate, rated A
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Property and Casualty Insurance License, California Top Questions and answers, 100% Accurate, rated A Loss Exposure refers to: - Liability loss - Property loss - Human loss - All of the above - -All of the above Pure risk is: - gambling - a chance of gain or profit - unacceptable as ...

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  • February 3, 2023
  • 6
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

Subjects

  • property and casualty insurance license
  • california top questions and answers
  • 100 accurate
  • rated a loss exposure refers to liability loss property loss human loss all of the above all

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Property and Casualty Insurance
License, California Top Questions and
answers, 100% Accurate, rated A

Loss Exposure refers to:

- Liability loss

- Property loss

- Human loss

- All of the above - ✔✔-All of the above



Pure risk is:

- gambling

- a chance of gain or profit

- unacceptable as an insurance risk

- no chance of gain or profit - ✔✔-- no chance of gain or profit



personal injury is the legal term for bodily injury

- true

-false - ✔✔-false



which is the best definition of Loss Reserve?

- funds held back from a claim benefit

- a deductible

- commission holdback

- estimated amount that and insurer will reserve for a potential claim - ✔✔-- estimated amount that and
insurer will reserve for a potential claim

, Assumption of risk doctrine means:

- risk assumed by an individual

- speculative risk assumed by an insurance company

- pure risk assumed by an insurer - ✔✔-- risk assumed by an individual



vicarious liability is liability that:

- we assume for the actions of others

- we assume for our actions

- excess liability over primary

- involves financial loss - ✔✔-- we assume for the actions of others



the mortgage clause protects the:

- lender

- insurer

- insured

- none of the above - ✔✔-- lender



in the insurance industry causes of loss are called perils. perils, in turn are affected by hazards. of the
following which is a general category of hazard?

- code hazards

- moral hazards

- document hazards

- contractual hazards - ✔✔-- moral hazards



the agent has a responsibility in underwriting an insurance policy:

- in all cases

- only when it's allowed by the company

- the agent has no responsibilities in the underwriting process

- only on commissioned products - ✔✔-- in all cases

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