Wisconsin casualty - Study guides, Class notes & Summaries

Property and Casualty Insurance Exam Questions With Answers Latest 2024 (GRADED) What is a peril? A Peril is a cause of loss What is a hazard? Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? Moral Hazard - dishonesty, against the law Morale Hazard - carelessness What is the method of handling risk that involves a deductible? Retention (loss or portion of loss) If a fire causes damage to a building, what is the fire conside...

Property and Casualty Insurance Test Question Notes with 100% Correct Answers What is a peril? - Correct Answer ️️ -A Peril is a cause of loss What is a hazard? - Correct Answer ️️ -Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? - Correct Answer ️️ -Moral Hazard - dishonesty, against the law Morale Hazard - carelessness What is the method of handling risk that involves a deductible? - Correct Answer ️️ - Re...

FAIR -:- Fair Access to Insurance Requirements Elements of a Legal Contract. L. O. A. C. -:- • Consideration • Legal Purpose • Offer • Acceptance • Competent Parties Consideration -:- Money and statements made on application Legal Purpose -:- Risk transfer doesn't violate the law Offer 2 | P a g e | G r a d e A + | 2 0 24 / 2 0 2 5 2 0 2 4 /2025 | © copyright | This work may not be copied for profit gain Excel! -:- Insured submits application and firs...

Property and Casualty Insurance Test Question Notes with 100% Correct Answers What is a peril? - Correct Answer ️️ -A Peril is a cause of loss What is a hazard? - Correct Answer ️️ -Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? - Correct Answer ️️ -Moral Hazard - dishonesty, against the law Morale Hazard - carelessness What is the method of handling risk that involves a deductible? - Correct Answer ️️ - Re...

GA PROPERTY & CASUALTY INSURANCE TEST - WORKERS COMPENSATIONWorkers Compensation - correct answer A form of insurance established by federal and state statutes that provides reimbursement for workers who are injured on the job -Created to protect employees -REGARDLESS OF FAULT -Did not exist in the 1800's - Employees had to sue and prove that the employer was negligent - Wisconsin was the 1st state to create a worker's compensation law in 1911 -Germany was the 1st country in the 1800...

Property and Casualty Insurance Test Question Notes Graded A+ What is a peril? A Peril is a cause of loss What is a hazard? Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? Moral Hazard - dishonesty, against the law Morale Hazard - carelessness What is the method of handling risk that involves a deductible? Retention (loss or portion of loss) If a fire causes damage to a building, what is the fire considered? A Peril ...

Personal lines Property & Casualty QUESTIONS AND CORRECT DETAILED ANSWERS |ALREADY GRADED A+

FAIR Fair Access to Insurance Requirements Elements of a Legal Contract. L. O. A. C. • Consideration • Legal Purpose • Offer • Acceptance • Competent Parties Consideration Money and statements made on application Legal Purpose Risk transfer doesn't violate the law Offer Insured submits application and first month premium to insurer Insurer accepts or insurer declines the risk Counteroffer Agrees to issue policy but with higher premium or restrictions/ exclusions Insured eit...

Wisconsin Insurance Plan - The state organization that provides basic insurance to those who can't obtain coverage through the normal market. 3% - The premium tax on legal surplus policies. Wisconsin Automobile Insurance Plan WAIP - The state government committee for review and revising insurance laws and regulation. They must submit their rules and rates to the commissioner for approval. Surplus lines insurance proposal form - A form that a surplus lines agent must give to their policyh...

Property and Casualty Insurance Test Questions and Answers 2023 What is a peril? - A Peril is a cause of loss What is a hazard? - Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? - Moral Hazard - dishonesty, against the law Morale Hazard - carelessness What is the method of handling risk that involves a deductible? - Retention (loss or portion of loss) If a fire causes damage to a building, what is the fire considere...