Property and casualty ch - Study guides, Class notes & Summaries

California Insurance Pre-Licensing Manual 52 Hour Property and Casualty Chapter 1 Study Guide Exam Questions with Answers . Contains terms like: ________ is the potential for incurring a loss. People buy insurance because of the possibilities of a loss - Answer: Loss Exposure

California Insurance Pre-Licensing Manual 52 Hour Property and Casualty Chapter 1 Study Guide Exam Questions with Answers . Contains terms like: ________ is the potential for incurring a loss. People buy insurance because of the possibilities of a loss - Answer: Loss Exposure

Premises and Operations - CORRECT ANSWER-exposure under a general liability policy applies to an insured business that conducts its operations both at its own premises and elsewhere. Products Exposure - CORRECT ANSWER-under a GL policy applies to the bodily injury property damage caused by any goods/products under insured's name Completed Operations Exposure - CORRECT ANSWER-Applies to occurrences that occur after the insured's operations have been completed and result from improper o...

Authorized insurer - Answer-insurer who has received a certificate of authority from the department of insurance to transact insurance in the state cease and desist - Answer-to stop or discontinue commission - Answer-payment to the agent by the insurance company for placing insurance, usually a percentage of the policy premium commissioner - Answer-the head of the state department of insurance. domicile - Answer-a state in which an insurer is organized and has its main place of busin...

Property and Casualty Chapter 1 Exam Questions With 100% Correct Answers A chance of loss is called ___? - answerRisk Gambling is an example of ____. - answerSpeculative risk Insurance will only cover ____ risks. - answerPure The transfer of risk from an individual or business to a professional risk taking company is called ____. - answerInsurance Loss is defined as _____ hurt. - answerFinancial Having your car stolen is an example of a ____ loss, whereas not having the use of your stole...

Property and Casualty Chapter 10 Insurance regulation exam questions and answers 2023

Exam FX (PA Property and Casualty - Ch. 2 Property & Casualty Insurance Basics) with Complete SolutionsExam FX (PA Property and Casualty - Ch. 2 Property & Casualty Insurance Basics) with Complete SolutionsExam FX (PA Property and Casualty - Ch. 2 Property & Casualty Insurance Basics) with Complete SolutionsExam FX (PA Property and Casualty - Ch. 2 Property & Casualty Insurance Basics) with Complete Solutions Earned Premium - ANSWER-Portion of the premium paid in advance that now belongs to the...

Property and Casualty Chapter 1 Exam Questions With 100% Correct Answers A chance of loss is called ___? - answerRisk Gambling is an example of ____. - answerSpeculative risk Insurance will only cover ____ risks. - answerPure The transfer of risk from an individual or business to a professional risk taking company is called ____. - answerInsurance Loss is defined as _____ hurt. - answerFinancial Having your car stolen is an example of a ____ loss, whereas not having the use of your stole...

Property and Casualty Chapter 1 Exam Questions and Complete Solutions

Property And Casualty Chapter 1 Exam With Correct Solutions A chance or uncertainty of loss is called ___? - correct answer.Risk Gambling is an example of ____. - correct answer.Speculative risk Insurance will only cover ____ risks. - correct answer.Pure The transfer of risk from an individual or business to a professional risk taking company is called ____. - correct answer.Insurance Loss is defined as _____ hurt. - correct answer.Financial Having your car stolen i...