Peril cause of loss Study guides, Class notes & Summaries
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![PA Motor Vehicle Physical Damage Appraiser - Practice Exam 100+ questions correctly answered & verified](/docpics/3549971/651c1c20532c3_3549971_121_171.jpeg)
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PA Motor Vehicle Physical Damage Appraiser - Practice Exam 100+ questions correctly answered & verified
- Exam (elaborations) • 20 pages • 2023
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PA Motor Vehicle Physical 
Damage Appraiser - Practice 
Exam 100+ questions correctly 
answered & verified 
True or False: Each appraiser, while engaged in appraisal duties, must carry his/her 
appraiser's license & display it to an owner of the vehicle or shop upon request: - 
ANSWER true 
What are the number of business days you have per Act 361 to inspect vehicle? - 
ANSWER 6 
How many days after an inspection should a total loss be offered to the owner? - 
ANSWER 5 
Aftermarket parts ...
![PA Appraiser Licensing Exam (2023-2024 Update)- Questions & Answers (Graded A+)](/docpics/3197048/64cefdb99200b_3197048_121_171.jpeg)
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PA Appraiser Licensing Exam (2023-2024 Update)- Questions & Answers (Graded A+)
- Exam (elaborations) • 18 pages • 2023 Popular
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PA Appraiser Licensing Exam (2023-2024 Update)- Questions & Answers (Graded A+) 
PA Appraiser Licensing Exam (2023-2024 Update)- Questions & Answers (Graded A+) 
 
What are the number of business days you have per Act 361 to inspect a vehicle? - ANSWER - 6 
 
How many days after an inspection should a total loss be offered to the owner? - ANSWER - 5 
 
Aftermarket parts can only be used when? - ANSWER - The parts are listed and coded in the estimate 
 
Aftermarket - ANSWER - Nonoriginal equipmen...
![New York State Auto Damage and Theft quiz 17-71 exam 2024 with 100% correct answers](/docpics/4179376/659d3c5e273ff_4179376_121_171.jpeg)
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New York State Auto Damage and Theft quiz 17-71 exam 2024 with 100% correct answers
- Exam (elaborations) • 46 pages • 2024
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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 answersConsequential 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 floor 
The quarter panels 
The frame rails correct answersTh...
![CPCU 500: Becoming a Leader in Risk Management and Insurance Exam Prep | Questions and Verified Answers| 100% Correct (Latest 2023/ 2024 Update)](/docpics/4019554/657a386c5f82f_4019554_121_171.jpeg)
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CPCU 500: Becoming a Leader in Risk Management and Insurance Exam Prep | Questions and Verified Answers| 100% Correct (Latest 2023/ 2024 Update)
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CPCU 500,Becoming a Leader in Risk Management and Insurance Exam Prep | Questions and Verified Answers| 100% Correct (Latest 2023/ 2024 Update) 
 
Q: Loss Exposure 
 
 
Answer: 
Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs 
 
3 Elements of a Loss Exposure: 
-An asset exposed to loss 
-Cause of loss (peril) 
-Financial consequences of that loss 
 
 
 
Q: Types of Loss Exposures 
 
 
Answer: 
Property Loss 
Liability Loss 
Personnel Loss 
Net...
![RSK2601 MCQ EXAM PACK 2024](/docpics/63e2a73794e9a_2347030.jpg)
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RSK2601 MCQ EXAM PACK 2024
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TEST BANK 
Enterprise Risk Management 
S - The Marketplace to Buy and Sell your Study Material 
1 
RSK2601 TEST BANK 
Question 1 
Which one of the following is a benefit of effective risk and opportunity management? 
1) Improved profit certainty 
2) Increased shareholder value 
3) Increased stakeholder confidence Correct option 3 
4) Lower economic returns 
Explanation 
Improved cost certainty, sustainable shareholder value, increased stakeholder confidence and 
higher economic returns...
![FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES)](/docpics/4114862/65918a359a3d4_4114862_121_171.jpeg)
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FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES)
- Exam (elaborations) • 33 pages • 2023
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FLORIDA INSURANCE 2-14 EXAM 
TERMS QUESTIONS AND ANSWERS 
(100% SCORES) 
Insurance - CORRECT ANSWER-Financial protection against loss or harm - An 
arrangement by which company gives customers financial protection against loss or 
harm such as theft or illness in return for premium payments. 
Life Insurance - CORRECT ANSWER-Is based on actuarial or mathematical principles 
and guarantees a specified sum of money upon the death of the person who is insured. 
Annuities - CORRECT ANSWER-Provid...
![FINN 3623 Risk Management Exam 1 (2024) || With Complete Answers (Graded A+)](/docpics/4346860/65b4e50cc1d97_4346860_121_171.jpeg)
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FINN 3623 Risk Management Exam 1 (2024) || With Complete Answers (Graded A+)
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FINN 3623 Risk Management Exam 1 (2024) || With Complete Answers (Graded A+) 
FINN 3623 Risk Management Exam 1 (2024) || With Complete Answers (Graded A+) 
 
PROTECT & ENHANCE the assets of an organization - ANSWER - What is the primary jobs/functions of the chief risk manager? 
 
peril - ANSWER - a cause of loss 
 
insurance - ANSWER - a mechanism of risk transfer 
 
hazard - ANSWER - anything that increases the probability of or severity of a loss 
 
physical hazard - ANSWER - a literal obstac...
![USAA Licensing Exam Verified Questions And Answers 2024](/docpics/3925223/6566d19a09121_3925223_121_171.jpeg)
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USAA Licensing Exam Verified Questions And Answers 2024
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Insurance - Transfer of risk from one person or organization to an insurance company 
 
Indemnity - The principle to restore the insured to the pre-loss economic or financial condition. 
 
Law of Large numbers - Mathematical principle used by insurers to predict losses to charge the appropriate premiums 
 
Insurable Interest - Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty insurance 
 
Binder - Temporary insurance contr...
![2022-2023 Texas Adjuster Study Guide 367 QUESTIONS AND ANSWERS](/docpics/2141239/6516a7e41cbe8_2141239_121_171.jpeg)
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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...
![RMIN 4000 Test 1 Brown UGA Questions and Answers 100% Verified](/docpics/4277545/65aafec616d84_4277545_121_171.jpeg)
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RMIN 4000 Test 1 Brown UGA Questions and Answers 100% Verified
- Exam (elaborations) • 11 pages • 2024
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RMIN 4000 Test 1 Brown UGA 
Questions and Answers 100% Verified 
Exposures things of value (assets) that could be lost 
Perils things that cause injury or loss 
risk a calculated possibility of a negative outcome 
Frequency the number of losses (such as fire or theft) that occur within a specified time 
period. aka the probability of a loss 
Severity the dollar amount of a loss for a specific peril (fire, theft, collision) aka How much 
does it cost when the loss does occur? 
Hazard a conditio...
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