Business > EXAM > Fundamentals of Insurance - Practice Exam (updated 2022) All answers are 100% Correct [DISTINCTION L (All)
Fundamentals of Insurance - Practice Exam (updated 2022) All answers are 100% Correct [DISTINCTION LEVEL]
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The major function of insurance is: a. To reduce the cost of the losses b. To share the losses of the few among the many c. The safeguard the interest of mortgages d. To serve as a basis of existing c ... redit system - b. To share the losses of the few among the many A peril if best defined as: a. The chance of a loss b. The occurrence of a loss c. The cause of a loss d. The result of a loss - c. The cause of a loss Indemnify means: a. Returning the premium of the insured b. Restoring the insured's to the same financial position as they were in immediately prior to the loss c. Paying the insured's the face amount of the policy [Show More]
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