Risk Management and Insurance > QUESTIONS & ANSWERS > Property and Casualty insurance exam questions and answers graded A (All)
Property and Casualty insurance exam questions and answers graded A
Document Content and Description Below
Property and Casualty insurance exam questions and answers graded A Insurance ✔✔The transfer of risk through a legal contract Property ✔✔Covers real property and personal property against d... amage or loss resulting from covered causes of loss called perils casualty ✔✔covers non-property losses (3rd Party) Personal lines ✔✔Insurance for families and individuals Commercial Lines ✔✔Insurance for Business Risk ✔✔Uncertainty of financial loss Pure Risk ✔✔Chance of loss only (insurance only covers) Speculative Risk ✔✔Chance of loss or gain law of large numbers ✔✔as the number of homogenous loss exposures increases, the more accurate claims can be predicted from the group Perils ✔✔causes a loss Named Peril ✔✔lists the perils that are covered open peril ✔✔cover all perils except those specifically excluded by the policy hazard ✔✔Are not causes of loss but are things that increase the chance of a peril happening. Physical Hazard ✔✔something you can physically look at Moral Hazard ✔✔dishonest tendencies morale hazard ✔✔attitude of careless [Show More]
Last updated: 2 years ago
Preview 1 out of 7 pages
.png)
Buy this document to get the full access instantly
Instant Download Access after purchase
Buy NowInstant download
We Accept:
Also available in bundle (1)
.png)
PROPERTY AND CASUALTY BUNDLED EXAMS QUESTIONS AND ANSWERS WITH APPROVED SOLUTIONS (LATEST 2022)
PROPERTY AND CASUALTY BUNDLED EXAMS QUESTIONS AND ANSWERS WITH APPROVED SOLUTIONS (LATEST 2022)
By Nutmegs 2 years ago
$25
29
Reviews( 0 )
$9.00
Can't find what you want? Try our AI powered Search
Document information
Connected school, study & course
About the document
Uploaded On
Oct 30, 2022
Number of pages
7
Written in
Additional information
This document has been written for:
Uploaded
Oct 30, 2022
Downloads
1
Views
206
