Property and casualty

Property and Casualty Exam Questions and answers, 100% Accurate, rated A the one basic characteristic of any type of insurance is that the insured is returned to the same status that existed prior to the loss, but without a chance for gain or profit - -true which of the following coverages does an open peril policy provide? - -perils other than those specifically named as being excluded determine the actual cash value in the following situation: original price of office equiptment w...

Property and Casualty Insurance Test Question Notes. Questions and answers, 100% Accurate. Rated 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...

Property and Casualty Exam Questions and answers, 100% Accurate, rated A Bailee - An individual or organization who has taken into its care, custody, and/or control the property of another for servicing, repair, or storage Hazard - Something that increases the chance or likelihood of a loss occuring. (physical or moral or morale) Market Value - A property policy provision that changes the valuation method otherwise applicable (ACV or RV) to a valuation method that allows reimbursem...

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...