Texas Property & Casualty Tests Bundle Set

____ is uncertainty of loss CORRECT ANSWER risk ____ is a transfer of risk from the insured to the insurer CORRECT ANSWER insurance ____ risk means there is no chance of gain. It is insurable. CORRECT ANSWER pure ____ risk means there is a chance of a loss or a gain. It is not insurable. CO...

A condition or situation that presents a possibility of loss is a (an): CORRECT ANSWER exposure The purpose of insurance is to: CORRECT ANSWER transfer risk Which hazard can be described as a careless attitude or general indifference on the part of the insured toward the occurrence of loss? CO...

Coverage for water backup or sump pump overflow is excluded from the Dwelling Policy. However, with the purchase of the water backup and sump pump overflow endorsement, coverage for up to $5,000 in loss or damage can be provided for an additional premium. What is the deductible associated with this ...

Which part of an insurance policy describes the responsibilities and obligations of both the insurance company and the insured under the policy? CORRECT ANSWER Conditions The limits of liability are found in which of the following sections of a casualty policy? CORRECT ANSWER Declarations The ...

Licensing Purpose CORRECT ANSWER For the protection of the public of this state. Individuals must satisfy the following to be eligible to get a license: CORRECT ANSWER -18 years of age or older -Resident of state -Passed exam and pay fees -Filed application and submitted a fingerprint card -N...