Personal pure risk Study guides, Class notes & Summaries
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ARM 400 Exam Questions with correct Answers
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Provides a measure of the maximum potential damage associated with an occurrence - Answer- exposure 
 
________________ is an essential goal for all public entities - Answer- continuity of operations 
 
An organization must meet the standard of care that it owes to others in order to ensure that... - Answer- legal obligations are satisfied 
 
What are the five steps of the risk management process? - Answer- - scan environment 
- identify risk 
- analyze risk 
- treat risk 
- monitor and review 
...
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Alabama Property and Casualty Exam 2022/2023 with 100% correct answers
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If a company cancels an auto policy mid term, the refund will be made on 
 
a. pro rata basis 
b. short rate basis 
c. retroactive basis 
d. coinsurance basis 
Pro Rata Basis 
 
 
 
What is the term used to describe terminating the insurance relationship at the end of the policy period ? 
a. cancellation 
b. nonrenewal 
c. separation 
d. exclusion 
Nonrenewal 
 
 
 
Which is the best example of an indirect loss ? 
 
a. sequential loss 
b. liability loss 
c. employee theft 
d. loss of use 
Loss o...
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California property and casualty exam, Pool Questions & Answers. Verified. Rated A
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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...
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Texas Property and Casualty Exam Questions and Answers Verified 100%
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Texas Property and Casualty Exam Questions and Answers Verified 100% 
 
____ is uncertainty of loss - risk 
 
____ is a transfer of risk from the insured to the insurer - insurance 
 
____ risk means there is no chance of gain. It is insurable. - pure 
 
____ risk means there is a chance of a loss or a gain. It is not insurable. - speculative 
 
a ____ is something that increases the risk. - hazard 
 
the principle of _____ governs property and casualty policies. It states that the purpose of th...
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N.C. Claims Adjuster Exam Latest 2023 Rated A+
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N.C. Claims Adjuster Exam Latest 2023 Rated A+ Inception/Expiration Date an insurance policy covers the insured starting at 12:01am on the day on which coverage begins and expires at 12:01am on the expiration day of the policy. 
Occurrence Date Date of which the loss occurred 
Identification of parties involved The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured person(s) and the names and addresses of any witness(s)....
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CISR - Elements of Risk Management Exam 132 Questions with Answers,100% CORRECT
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CISR - Elements of Risk Management Exam 132 Questions with Answers 
 
 
A ____ is a cause of loss - CORRECT ANSWER peril 
 
A situation, behavior, or condition that may lead to adverse financial consequences - CORRECT ANSWER exposure 
 
A cyberattack is an example of a ____ - CORRECT ANSWER peril 
 
An Insured who shows no regard for his insured property demonstrates a - CORRECT ANSWER morale hazard 
 
A spill on a supermarket aisle is an example of a ____ because it increases the likelihood...
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CA Life and Health Exam Questions and Answers Already Passed
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CA Life and Health Exam Questions and Answers Already Passed What is insurance? Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. 
What's the difference between pure risk and speculative risk? Pure risk is when you'll lose it all or there will be no change. Speculative risk you can either win or lose. 
What is peril? peril is the causes of loss insured against in an insurance policy 
What is hazard? conditions that increase the pr...
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Hearing Aid Dispenser Practice Test Questions with Verified Answers
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What BEST describes the effect on the patient if you continue to lower a hearing 
instrument's kneepoint and increase the compression ratio? Choose ALL that apply. 
A. a lot of gain for soft sounds 
B. very few speech cues in a crowded party 
C. little or no gain for moderately loud sounds 
D. too much amplification in a crowded party - ANSWER-A,B, & C 
 
What frequencies would be MOST affected by a head cold? - ANSWER-Low frequencies. 250,500 
 
What is found on the bottom of the ear canal? - ...
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Property and Casualty insurance exam Texas Questions with 100% Correct Answers
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Property and Casualty insurance exam Texas Questions with 100% Correct Answers 
Insurance 
The transfer of risk through a legal contract 
 
 
 
Property 
Covers real property and personal property against damage or loss resulting from covered causes of loss called perils 
 
 
 
casualty 
covers non-property losses (3rd Party) 
 
 
 
Personal lines 
Insurance for families and individuals 
 
 
 
Commercial Lines 
Insurance for Business 
 
 
 
Risk 
Uncertainty of financial loss 
 
 
 
Pure Risk 
...
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PSI Life Exam Questions and Answers 2022/2023
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What kind of retirement plan can a 75-employee for profit corporation establish? - ANSWER-Simple IRA 
 
The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the - ANSWER-Exclusion ratio 
 
Unfair claims settlement methods and practices by an insurance company include all of the following acts EXCEPT - ANSWER-failure to pay all claims that are reported within 90 days after a loss occurs 
 
The settlement option that allows p...
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