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WGU D320/CCSP QUESTIONS AND ANSWERS 2024
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WGU D320/CCSP QUESTIONS ANDWGU D320/CCSP QUESTIONS AND ANSWERS 2024 ANSWERS 2024WGU D320/CCSP QUESTIONS AND ANSWERS 2024
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WGU D320/CCSP QUESTIONS ANDANSWERS 2024
The primary role of insurance is to - answer-Indemnify individuals and
organizations for covered losses.
As a single mother on a very tight budget, Ciara is tempted to skimp on her
insurance. However, her friend Mehmet tells her not to skimp on
insurance, because it will help manage her cash flows. Which one of the
following examples best illustrates Mehmet's point? - answer-When her
car's windshield breaks, Ciara has to pay only $100 of the $600 cost of
replacing it.
A homeowners policy is a type of - answer-Personal property-casualty
insurance policy.
Coverage for money and other business property from various causes of
loss such as burglary, robbery, theft, and employee dishonesty typically is
provided by - answer-Commercial crime insurance.
Which one of the following describes the characteristics of a mutual
insurance company? - answer-A corporation owned by policyholders that
provides insurance to its policyholders.
An insurer that was formed for the purpose of earning a profit for its
stockholders is a - answer-Stock insurer
, Clare is a commercial lines underwriter. She always tries to follow
underwriting guidelines, effectively evaluate loss exposures, and charge
adequate premiums. By doing these things, Clare's goal is to ensure -
answer-Adequate policyholders' surplus
Which one of the following statements is correct regarding the interaction
between risk control and other insurer functions? - answer-A risk control
evaluation can make the difference between the applicant's being rejected
or accepted by the underwriter
Which one of the following accurately describes activities related to
customer service representatives? - answer-Profitability in the insurance
business is directly linked to customer retention
Waycroft Industries is working with their insurance producer Graydon
Murphy. Graydon and the risk managers at Waycroft have already
completed the first step of the risk consultation process. The second step
of the process is - answer-Comparing an organization's results with
established performance standards
Leadon Transportation is using the expertise of its producer Carmen to
help the organization understand how to correct substandard performance
as well as evaluate exceeded standards. One measurement she will use is
the cost of risk which is best described as - answer-The total cost of all
aspects of the organization that relate to managing risk
Adhering to the characteristics of an ideally insurable loss exposure in
selling insurance help assure that - answer-The insurer is able to charge a
premium that the insured can afford to pay
Insurance deals primarily with loss exposures that are fortuitous. Which
one of the following statements best characterizes fortuitous losses? -
answer-Fortuitous losses are beyond the insured's control
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