Property loss exposure a - Study guides, Class notes & Summaries

Industrial Hygiene Science and art devoted to the anticipation, recognition, evaluation, prevention, and control of those environmental factors or stresses arising in or from the workplace which may cause sickness,, impaired health and well being, or significant discomfort among workers or among citizens of the community. Occupational Health and Safety Same definition as "industrial hygiene" ; Science and art devoted to the anticipation, recognition, evaluation, prevention, and contr...

Faulty wiring in a home is an example of a: a) loss b) peril c) risk d) hazard - correct answer Hazard When a person buys insurance what method of handling risk has been undertaken? a) transfer b) reduction c) avoidance d) retention - correct answer Transfer In property and casualty insurance, insurable interest must exist: a) at the time a change is made to a policy b) at the time of policy application c) at the time of loss d) at the time of policy solicitation - correct...

Identify the materials used for enclosure Drywall vinyl siding Plywood Paneling Caulk and sealant Hazards that exist in residential environments Lead dust Lead contaminated soil Peeling, chipping paint Folk remedies Describe how children are typically exposed to lead Hand to mouth activities Worker take home dust Identify the common routes of worker lead exposure Inhalation Ingestion Describe the basic health effects of lead to workers Stomachache Nause...

The Occurrence form it doesn't matter when the loss is reported, but the date the loss occurred must be during the policy period. The Supplemental Extended Reporting Period The cost of the endorsement may be up to 200% of the CGL's annual premium. This is a one-time charge and is fully earned at issuance. Product liability would cover Product liability applies to bodily injury the product causes away from the insured's premises. A customer contracting food poisoning is a perf...

Railroad owners commonly require contractors to purchase a Railroad Protective Liability Coverage Form. Which one of the following statements about this form is true? - correct answerOne of the coverage limits applies to physical damage to property owned by or leased or entrusted to the railroad Which one of the following statements about the general aggregate limit under a Commercial General Liability (CGL) Coverage Form is true? - correct answerIt is reduced by an claims paid for medical pa...

RMIN EXAM 1 CH 1-4 QUESTIONS & ANSWERS The property and liability insurance industry is characterized by a receptive pattern of loose underwriting standards with low premiums followed by tight underwriting standards with high premiums. This repetitive patter is called the: a. underwriting cycle b. underwriting by exception method c. business cycle d. account underwriting method - ANS-a. underwriting cycle A situation or circumstance in which a loss is possible, regardless of whether a ...

TEST BANK Enterprise Risk Management S - The Marketplace to Buy and Sell your Study Material 1 RSK2601 TEST BANK Question 1 Which one of the following is a benefit of effective risk and opportunity management? 1) Improved profit certainty 2) Increased shareholder value 3) Increased stakeholder confidence Correct option 3 4) Lower economic returns Explanation Improved cost certainty, sustainable shareholder value, increased stakeholder confidence and higher economic returns...

Loss exposure - ANS-Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs. Property loss exposure - ANS-A condition that presents the possibility that a person or an organization will sustain a loss resulting from damage (including destruction, taking, or loss of use) to property in which that person or organization has a financial interest. Real property (realty) - ANS-Tangible property consisting of land, all structures permanently attache...

Adjuster Pro - Insurance adjuster test latest 2023 already passed What is insurance? protection against financial loss what is a premium a scheduled amount to be paid for an insurance policy. What are premiums used for premiums are collected into a "pool" or "reserve to pay out claimants when needed. how can insurance companies afford to pay for an individuals catastrophic loss? the insurer collects premiums from all policy holders and uses them to pay out the claims of a few. what is Ind...

California property and casualty exam, Pool Questions & Answers. Verified. Rated A The process where by a mutul insurer becomes a stock company is called - Demutalization The process whereby a stock company a mutal insurer is called - Mutalization The provision in a property policy which states that the insured has been paid up to their insurable interest is - Valuation clause The part of the policy that states the amout of coverage the insured property policy period is - Declara...