WebCE Property Casualty Prep Exam-EXAM
STUDY GUIDE ACCURATE QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
RATIONALES || 100% GUARANTEED PASS
<BRAND NEW VERSION>
Risk
Chance of loss
5 Risk or Loss Factors
1. Risk 2. Loss 3. Exposure 4. Peril 5. Hazard
Insurance allows:
Individual or group to transfer over to insurance company the risk of financial loss from a
destructive event
Fundamental purpose of insurance is:
To indemnify policyholder against covered losses or restore policyholder back to same financial
position they were in before
Insurance companies may used term risks to refer to insured:
1. Person 2. Property 3. Activity
Loss
Unplanned or unwelcome reduction in economic value
What is Direct and Indirect loss
1. Direct loss - immediate result of and event caused by a covered peril 2. Indirect loss - remote
result of an event caused by covered peril
Exposure
State of being subject to a possible loss
Insurer measures exposure by
STUDY GUIDE ACCURATE QUESTIONS AND
CORRECT DETAILED ANSWERS WITH
RATIONALES || 100% GUARANTEED PASS
<BRAND NEW VERSION>
Risk
Chance of loss
5 Risk or Loss Factors
1. Risk 2. Loss 3. Exposure 4. Peril 5. Hazard
Insurance allows:
Individual or group to transfer over to insurance company the risk of financial loss from a
destructive event
Fundamental purpose of insurance is:
To indemnify policyholder against covered losses or restore policyholder back to same financial
position they were in before
Insurance companies may used term risks to refer to insured:
1. Person 2. Property 3. Activity
Loss
Unplanned or unwelcome reduction in economic value
What is Direct and Indirect loss
1. Direct loss - immediate result of and event caused by a covered peril 2. Indirect loss - remote
result of an event caused by covered peril
Exposure
State of being subject to a possible loss
Insurer measures exposure by
