Liability loss exposure - Study guides, Class notes & Summaries
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2022-2023 Texas Adjuster Study Guide 367 QUESTIONS AND ANSWERS
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2022/2023 
Texas Adjuster Study Guide 367 QUESTIONS AND ANSWERS 
 
 
 
1.	PERILS: A CAUSE OF PROPERTY LOSSES UNDER AN INSURANCE CON- TRACT EX: WINDSTORM, HURRICANE, EXPLOSION, COLLAPSE OF BUILD- ING, VANDALISM, ACCIDENTAL DISCHARGE, AND THEFT 
2.	LAW OF LARGE NUMBERS: A FUNDAMENTAL CONCEPT IN STATISTICS 
AND PROBABILITY THAT DESCRIBES HOW THE AVERAGE OF A RANDOM- 
LY SELECTED LARGE SAMPLE FROM A POPULATION. IT BASICALLY RE- LIES ON THE PRINCIPLE THAT THE LARGER THE POOL, THE MORE PRE- DICTAB...
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AU62 Course Exam Practice Questions & Answers, 100% Accurate. Verified.
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AU62 Course Exam Practice Questions & Answers, 100% Accurate. Verified. 
 
 
An organization may incur losses from legal liabilities in a number of different ways. Which one of the following actions would best be described as an intentional tort? - -A newspaper mistakenly identifies the driver in an alcohol-related hit and run accident as John Doe, a prominent local attorney. 
 
Martin, a 15-year-old boy, carelessly tossed a glass bottle over the heads of several people toward a recycling bin 15...
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ADJUSTER PRO - INSURANCE ADJUSTER TEST(QUESTIONS AND REVIEWED ANSWERS) 2023-2024
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ADJUSTER PRO - INSURANCE 
ADJUSTER TEST(QUESTIONS AND 
REVIEWED ANSWERS) 2023-2024 
What is insurance? - CORRECT ANSWER-protection against financial loss 
what is a premium - CORRECT ANSWER-a scheduled amount to be paid for an 
insurance policy. 
What are premiums used for - CORRECT ANSWER-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? - 
CORRECT ANSWER-the insurer collect...
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Florida 6-20 All Lines Adjuster Test| 276 questions| 50 Pages| With Complete Solutions
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Florida 6-20 All Lines Adjuster Test| 276 questions| 
50 Pages| With Complete Solutions 
Florida 6-20 All Lines Adjuster Test| 276 questions| 
50 Pages| With Complete Solutions 
A public adjuster represents the interest of: 
A. The insurer 
B. The Insured 
C. The employer 
D. The interest of the general public - Correct Answer -B. The insured 
Which of the following is the type of report that indicates the initial results of 
a claim investigation? 
A. Field Report 
B. Interim Report 
C. Full Re...
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CPCU 500 Exam Questions- Managing Evolving Risks with correct Answers
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Drones may be equipped with cameras that relay data in real-time 
 
Which one of the following uses infrared light to detect nearby objects? - Answer- Lidar 
 
AMRM Insurance Company sells insurance in Virginia, North Carolina, South Carolina, and Georgia. The company has compiled a policyowner data base that can be used to send text messages when hurricanes approach. The company provides early warnings, storm updates from the National Weather Service, and hurricane safety measures. The company ...
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CISR Commercial Casualty I Lesson Exam 48 Questions with Answers,100% CORRECT
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CISR Commercial Casualty I Lesson Exam 48 Questions with Answers 
 
Legal Liability - CORRECT ANSWER A responsibility or obligation to others, which courts recognize and enforce. In general failure to meet this duty often results in the imposition of monetary damages. 
 
3 Types of Legal Liability - CORRECT ANSWER Tort Liability, Statutory Liability, Contractual Liability 
 
4 Types of Tort Liability - CORRECT ANSWER Negligence, Intentional Torts, Strict Liability, Absolute Liability 
 
Name ...
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CAIB 3 Practice Exam 2023 Questions and Answers
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What is the name given to the collection of written decisions? - Answer- Case Law 
 
Explain the concept of the Rule of Precedent. - Answer- Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. 
 
Explain the meaning of the term "damages". - Answer- Compensation in money for the loss or damage suffered. 
 
Compensatory damages for bodily injury are ...
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California property and casualty exam questions and answers graded A
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alifornia property and casualty exam questions and answers graded 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 Declaration 
Part of the policy that establ...
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Wisconsin Life Insurance Exam Prep exam Already Passed!!
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Stock insurer - - Owned by stockholders/shareholders 
- Pays taxable dividends to shareholders if a profit is 
made 
-Issues nonparticipating policies (non-PAR) 
Mutual Insurer - - An insurer that is owned by its policyholders 
- If company is profitable, excess premiums are returned as non-taxable dividend 
-Issues participating (Par) policies 
Fraternal Benefit Societies - -Life or health insurance companies formed to provide insurance for 
members of an affiliated lodge, religious organizatio...
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WebCe - Commercial Lines 101 Exam Questions and Answers
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What is the underwriter's goal? - Answer- To write a book of business in which the actual losses approximate the expected losses. 
 
Gertrude is going to become an insurance agent. She would like to work in an agency that represents many different insurance companies. Gertrude will go to work for a(n) - Answer- Independent agency 
 
When a client suffers a loss, MegaInsurers is expected to respond promptly to settle the resulting claim. Depending on the line of insurance, claim costs generally ...
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