Peril cause of loss - Study guides, Class notes & Summaries
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Risk management Exam 1 driver (updated - 2024) || Complete Solutions (100% Correct)
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Risk management Exam 1 driver (updated - 2024) || Complete Solutions (100% Correct) 
Risk management Exam 1 driver (updated - 2024) || Complete Solutions (100% Correct) 
 
types of risk - ANSWER - Pure risk 
Speculative risk 
Subjective risk 
 
pure risk - ANSWER - Simply no loss or loss 
*insurance companies only deal with 
 
spectulative risk - ANSWER - loss or no loss or potential gain 
 
subjective risk - ANSWER - our attitudes towards risk (risk tolerance) 
*more difficult than pure and spe...
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New York State Auto Damage and Theft Quiz 17-71 Correctly Answered 2024/2024
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New York State Auto Damage and Theft 
Quiz 17-71 Correctly Answered 
2024/2024 
Jim Smith is involved in a collision claim and is no longer able to use the vehicle to go to 
work. This "loss of use" is referred to as a: 
Direct loss 
Indirect loss 
Loss evaluation 
Consequential loss - CORRECT ANSWER-Consequential loss 
When the rear of the vehicle is damaged and there is a gap between the trunk lid and 
the quarter panel, what else on the vehicle should the appraiser check? 
The center...
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ains 103ains 103 questions answers graded A+
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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...
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Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review(updated 2023)
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Florida Claims Adjuster Exam, 6-20 All Lines Adjuster- Florida- Review(updated 2023)Peril 
Something that causes a loss. 
 
 
 
Hazard 
Something that increases the probability that a loss will occur. 
 
 
 
Warranty 
A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. 
 
 
 
Misrepresentation 
An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. 
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Florida Claims Adjuster Exam 206 Questions with 100% Correct Answers 33 Pages
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Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as 
additional interests on his homeowner policy. The insurance company will make a payment to: 
A. The first mortgagee, ABC 
B. The Insured 
C. Jointly to ABC and XYZ 
D. All listed interests - Correct Answer -D. All listed interests Remember that the insurer is not 
responsible to know the degrees of interest. In the event of a loss, one payment is made by 
the insurer and it is up to the additional in...
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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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CPCU 500 Exam Questions and Answers 2023
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Risk - Answer- the uncertainty about outcomes, with the possibility that some of the outcomes can be negative. Quantified by knowing the probability of the possible outcomes 
 
Probability - Answer- the likelihood that an outcome or event will occur. Probabilities are stated as a decimal figure, a percentage, or a fraction. 
 
What are the 2 elements associated with risk? - Answer- uncertainty of outcome + possibility of negative outcome 
 
Pure Risk - Answer- a chance of loss or no loss, but no...
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NEW YORK STATE AUTO DAMAGE AND THEFT QUIZ 17-71 Correctly Answered 2024
- Exam (elaborations) • 61 pages • 2024
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NEW YORK STATE AUTO DAMAGE AND 
THEFT QUIZ 17-71 Correctly Answered 
2024 
Jim Smith is involved in a collision claim and is no longer able to use the vehicle to go to work. This "loss 
of use" is referred to as a: 
Direct loss 
Indirect loss 
Loss evaluation 
Consequential loss - Answer -Consequential loss 
When the rear of the vehicle is damaged and there is a gap between the trunk lid and the quarter panel, 
what else on the vehicle should the appraiser check? 
The center pillar 
The trunk ...
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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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Louisiana Life, Health, and Accident Insurance Licensing Exam questions and 100% correct answers
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Insurance - correct answer the transfer of Pure risk to the insurance company in consideration for a premium 
 
must be pure risk and calculable. 
 
Pure Risk - correct answer the chance of loss without any chance of gain; insurable 
 
Speculative Risk - correct answer possibility for gain or loss; not insurable 
 
Risk - correct answer Chance of loss 
 
Exposure - correct answer a condition that could result in loss 
 
hazard - correct answer something that increases the chance of loss 
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