Speculative vs pure risk - Study guides, Class notes & Summaries

Admitted Insurance Company vs. Non-Admitted Insurance Company - An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California requirements or did not seek admission Pure Risk vs. Speculative Risk - Pure risks are insurable but Speculative risks a...

Property And Casualty Insurance Exam With Correct And Verified Solutions 2024 Insurance - correct answer.Transfer of risk form a person or business to an insurer Loss - correct tainty/possibility of a loss Speculative vs pure risk - correct answer.Speculative - chance of loss or gain Pure - only chance of loss Exposure - correct for which the insurance company would be liable Peril - correct of loss Direct vs Indirect loss - correct answer.Direct - physical l...

Risk -Answer Uncertainty Types of risk -Answer Pure vs speculative Pure not insured Peril -Answer Cause of loss- open vs named Hazard -Answer Types- physical , moral , morale Indemnity -Answer No gain Subrogation -Answer Insurance sues at fault party Fiduciary -Answer Responsible for property of others Waiver -Answer Insurance company voluntarily gives up a policy right Warranty -Answer Written into contract-a promise- if broken claim does not...

CA PSI SITE - LIFE, ACCIDENT AND HEALTH AGENT EXAMINATION (LIFE AGENT) 2024 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED Admitted Insurance Company vs. Non-Admitted Insurance Company - CORRECT ANSWER An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California becau...

Risk - Answer-Chance of a loss Which type of risk is insured and why? - Answer-Pure risk, because speculative risk is comparable to gambling. 3 Ways risk (management) is dealt with? - Answer-REDUCE: preventative measures ASSUME/RETAIN: Self-insure TRANSFER: purchase insurance Which of the following is not a risk? A) Assume or retain risk B) Reduce the risk C) Doing nothing / avoiding the risk D) Transfer the risk - Answer-C) Doing nothing / avoiding the risk Insurer - Answer-Insurance...

Texas Property & Casualty License Exam Questions And Answers Property vs Casualty: What is considered property? - ANS Structure & Personal Property Property vs Casualty: What is considered casualty? - ANS Non-property losses. Legal liability to others. 3rd Party Risk - ANS uncertainty of financial loss Pure Risk - ANS Chance of Loss Speculative Risk - ANS Chance of Loss or Gain (Gamble) Insurance (covers which type of risk?) - ANS Pure Risk Only How do...

CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) Exam Questions With 100% Verified Answers. Admitted Insurance Company vs. Non-Admitted Insurance Company - answerAn admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with California...

The loss you inquire from a disaster not the value its correct answers The money invested into that property what is risk? correct answers any uncertainty regarding financial loss, anything that could impact your money what are some classifications of risk? correct answers pure vs speculative, objective vs subjective, static vs dynamic pure risk correct answers loss or no loss only speculative risk correct answers loss/no loss/ gain ex. stock or businesses static risk correct answ...

Chapter 1: Property vs Casualty: What is considered property? correct answers Structure & Personal Property Property vs Casualty: What is considered casualty? correct answers Non-property losses. Legal liability to others. 3rd Party. Casualty insurance means that the policy includes liability (accountability or responsibility) coverages to help protect you if you're found legally responsible for an accident that causes injuries to another person or damage another persons belongings. Prope...

CA PSI Site - Life, Accident and Health Agent Examination (Life Agent)| Questions and Answers, 100% Correct| Latest 2023/2024 Admitted Insurance Company vs. Non-Admitted Insurance Company An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of failing to comply with Cali...