Products
Flashcards
Quiz Maker
Training Maker
See All
ProProfs.com
Products
Flashcards
Quiz Maker
Training Maker
See All
ProProfs.com
Related Flashcards
Take Flashcards
Popular
Recent
Language
Animal
Art
Assessment
Book
Business
Career
Celebrity
Computer
Country
Education
English
Exam
Food
Fun
Game
Geography
Health
History
Literature
Music
Math
Medical
Personality
Profession
Science
Society
Sports
Subject
Television
Create Flashcards
?
Take a Quiz
All Products
Brain Games
ProProfs.com
Home
›
Create
›
Flashcards
›
Business
›
Finance
›
Property
›
Property And Casualty
›
Download View
Download (Property And Casualty) Flashcard
Choose a format below:
TEXT Format (.txt)
MS-Excel Format (.xls)
Select delimiter »
Comma
Semicolon
Tab
New Line
Custom
Preview »
Side A ------ Side B The person, organization or business covered by the insurance policy is referred to as: ------ Insured To restore an insured to the prior financial condition that existed prior to the loss is considered: ------ Indemnity Which of the following would NOT be an insurable interest: ------ “Speculative Risk” is a chance of both a gain and a loss. Speculative risks are NOT insurable. What are the five methods of Risk Management: ------ “Share, Transfer, Avoid, Retain, Reduce” STARR A contract in which the amount of money to be given up by each party is NOT equal is considered: ------ Aleatory The definition of a peril is: ------ A cause of loss Lines of Insurance that require rates to be filed and approved by the state before they can be used would be: ------ Prior Approval The principle of restoring a victim of loss to the same financial position as before the loss occurred is called: ------ indemnity Insurance represents which way of dealing with risk? ------ Transfer For property and casualty insurance, insurable interest must exist: ------ at the time of loss Things that increase the likelihood of a loss or the seriousness of a loss are called: ------ hazards An insurer formed under the laws of the state in which an insurance policy is written is called: ------ a domestic insurer Authority of an agent that the public may reasonably believe the agent to have is called: ------ apparent authority Failure to use the degree of care of a reasonable person is called: ------ negligence An unbroken chain of cause and effect between an occurrence of an insured peril and resulting injury is called: ------ proximate cause
Side A ------ Side B The person, organization or business covered by the insurance policy is referred to as: ------ Insured To restore an insured to the prior financial condition that existed prior to the loss is considered: ------ Indemnity Which of the following would NOT be an insurable interest: ------ “Speculative Risk” is a chance of both a gain and a loss. Speculative risks are NOT insurable. What are the five methods of Risk Management: ------ “Share, Transfer, Avoid, Retain, Reduce” STARR A contract in which the amount of money to be given up by each party is NOT equal is considered: ------ Aleatory The definition of a peril is: ------ A cause of loss Lines of Insurance that require rates to be filed and approved by the state before they can be used would be: ------ Prior Approval The principle of restoring a victim of loss to the same financial position as before the loss occurred is called: ------ indemnity Insurance represents which way of dealing with risk? ------ Transfer For property and casualty insurance, insurable interest must exist: ------ at the time of loss Things that increase the likelihood of a loss or the seriousness of a loss are called: ------ hazards An insurer formed under the laws of the state in which an insurance policy is written is called: ------ a domestic insurer Authority of an agent that the public may reasonably believe the agent to have is called: ------ apparent authority Failure to use the degree of care of a reasonable person is called: ------ negligence An unbroken chain of cause and effect between an occurrence of an insured peril and resulting injury is called: ------ proximate cause
Everything is ready!
Let’s click on download button to download score report in Microsoft Excel format (.xls file).