Texas Life Questions with complete solution 2023

Texas Life Questions with complete solution 2023risk - correct answer chance of loss speculative risk - correct answer -involves the chance of gain or loss and is NOT insurable -ex: gambling pure risk - correct answer involves only the chance of loss and is insurable exposure - correct answer being subject to the possibility of loss because of an activity, location, or characteristics -second hand smoke -no control on exposure peril - correct answer cause of loss natural peril - correct answer lightning, hail, hurricane, and so forth human peril - correct answer theft, murder, auto accidents, industrial accidents, and illness loss - correct answer accidental/unexpected death or injury to a person or any reduction in quality, quantity, or value of property hazard - correct answer situation that introduces or increases the probability of loss -triggers the event