Producer represenation - Study guides, Class notes & Summaries

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 ...

Louisiana Life, Health, and Accident Insurance Licensing Exam Questions With 100% Correct Answers!!

Insurance - Answer the transfer of Pure risk to the insurance company in consideration for a premium must be pure risk and calculable. Pure Risk - Answer the chance of loss without any chance of gain; insurable Speculative Risk - Answer possibility for gain or loss; not insurable Risk - Answer Chance of loss Exposure - Answer a condition that could result in loss hazard - Answer something that increases the chance of loss eg. presence of physical hazard increases the chance ...