Peril and hazard Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Peril and hazard? On this page you'll find 2179 study documents about Peril and hazard.
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California property and casualty exam, Pool Questions & Answers. Verified. Rated A
- Exam (elaborations) • 57 pages • 2023
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California property and casualty exam, Pool Questions & Answers. Verified. Rated A 
 
 
 
The process where by a mutul insurer becomes a stock company is called - Demutalization 
 
The process whereby a stock company a mutal insurer is called - Mutalization 
 
The provision in a property policy which states that the insured has been paid up to their insurable interest is - Valuation clause 
 
The part of the policy that states the amout of coverage the insured property policy period is - Declara...
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Primerica Practice Exam Test A 75 Questions & Answers 2023
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Primerica Practice Exam Test A 75 Questions & 
Answers 2023 
1. An annuity that is purchased with a lump sum premium and whose benefits begin 
after 12 months is called a: 
A. Single premium immediate annuity. 
B. Single premium deferred annuity. 
C. Level premium variable annuity. 
D. Flexible premium fixed annuity. - Correct answer-Single premium deferred annuity 
2. A technique used to determine the amount of life insurance needed by focusing on 
the projected earning potential of an insured ...
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CA Life and Health Exam Questions and Answers Already Passed
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CA Life and Health Exam Questions and Answers Already Passed What is insurance? Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. 
What's the difference between pure risk and speculative risk? Pure risk is when you'll lose it all or there will be no change. Speculative risk you can either win or lose. 
What is peril? peril is the causes of loss insured against in an insurance policy 
What is hazard? conditions that increase the pr...
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Property and Casualty insurance exam Texas Questions with 100% Correct Answers
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Property and Casualty insurance exam Texas Questions with 100% Correct Answers 
Insurance 
The transfer of risk through a legal contract 
 
 
 
Property 
Covers real property and personal property against damage 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 
...
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CISR - Elements of Risk Management Exam 132 Questions with Answers,100% CORRECT
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CISR - Elements of Risk Management Exam 132 Questions with Answers 
 
 
A ____ is a cause of loss - CORRECT ANSWER peril 
 
A situation, behavior, or condition that may lead to adverse financial consequences - CORRECT ANSWER exposure 
 
A cyberattack is an example of a ____ - CORRECT ANSWER peril 
 
An Insured who shows no regard for his insured property demonstrates a - CORRECT ANSWER morale hazard 
 
A spill on a supermarket aisle is an example of a ____ because it increases the likelihood...
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CIB PROPERTY AND CASUALTY PREP
- Other • 30 pages • 2024
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Risk - Answer-chance of loss 
 
Peril - Answer-cause of loss (fire, wind, theft, etc) 
 
Direct Loss - Answer-the immediate result of an event caused by a covered peril 
 
Indirect Damage Loss - Answer-loss resulting from a direct loss to property (income loss expense resulting from the inability to use damaged property) 
 
Exposure - Answer-the state of being subject to risk 
 
Hazard - Answer-a condition that increased the likely occurrence of a peril or the likely severity of a loss (moral, m...
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Florida Public all lines adjuster questions and answers 100% correct
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Subordination Correct Answer: When the insured collets damages from his or her own insurance company and those damages were caused by negligent third-party, the insurance company steps into the shoes of the insured and is entitled to recover the damages actually paid to the insured from the negligent party 
 
liability insurance Correct Answer: Means that the payment by the insurance company will be made to a third-party injured or damaged by the insured. An insured can we never recover damage...
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N.C. Claims Adjuster Exam Latest 2023 Rated A+
- Exam (elaborations) • 80 pages • 2023
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N.C. Claims Adjuster Exam Latest 2023 Rated A+ Inception/Expiration Date an insurance policy covers the insured starting at 12:01am on the day on which coverage begins and expires at 12:01am on the expiration day of the policy. 
Occurrence Date Date of which the loss occurred 
Identification of parties involved The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured person(s) and the names and addresses of any witness(s)....
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RMIN 4000 Exam 1 Brown Latest Update Graded A+
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RMIN 4000 Exam 1 Brown Latest Update 
 
Graded A+ 
 
Textbook definition of RISK Uncertainty concerning the occurrence of a loss 
 
Better definition of RISK A calculated possibility of a negative outcome 
 
Calculated Possibility 0 = Impossible event (NO RISK) 
 
0.5 = Highest Risk (Most Uncertainty) 
 
1 = 100% Certain Event (NO RISK 
 
Negative Outcome Loss 
 
Losses must be __________? Quantifiable 
 
Pure Risk States Loss 
 
or 
 
No Loss 
 
Examples of Pure Risks Fire, Cancer, Dog bites a ...
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IDAHO PROPERTY & CASUALTY INSURANCE EXAM 2024 WITH 200 QUESTIONS AND ANSWERS (100% CORRECT VERIFIED ANSWERS) IDAHO PROPERTY & CASUALTY INSURERS LICENSE EXAM TEST BANK (NEW!!)
- Exam (elaborations) • 63 pages • 2024
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IDAHO PROPERTY & CASUALTY INSURANCE EXAM 2024 WITH 200 QUESTIONS AND ANSWERS (100% CORRECT VERIFIED ANSWERS) IDAHO PROPERTY & CASUALTY INSURERS LICENSE EXAM TEST BANK (NEW!!) 
Department of Insurance (DOI) - ANSWER-is a regulatory agency created to 
regulate the business of insurance in Idaho. 
Which of the following terms describes a legal agreement between two competent 
parties that promises a certain performance in exchange for a certain 
consideration? 
A. An offer 
B. an acceptance ...
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