GA PROPERTY & CASUALTY TEST Rated 100% Correct!!

PURE RISK - TYPE OF RISK WHICH INSURANCE COMPANIES WILL INSURE IS CALLED? RANDY, THE OWNER OF A SMALL BUSINESS APPLIED FOR FIRE INSURANCE WITH LIMITS EQUAL TO 100% of THE PROPERTY VALUE. HE HAD A HUGE UNSOLD INVENTORY AND A LARGE GAMBLING DEBT. THIS MIGHT INDICATE? - MORAL HAZARD PURE & SPECULATIVE RISK - THE RISK OF LOSS MAY BE CLASSIFIED AS? AGGREGATE LIMIT OF LIABILITY - Defined as the MAXIMUM LIMIT of coverage available under a liability policy DURING A POLICY YEAR- irregardless of the number of choices that may occur COMBINED SINGLE - MAMA IS DRIVING HER CAR THROUGH A RESIDENTIAL AREA AND LOOSES CONTROL OF THE CAR AND CRASHED INTO CASY'S FRONT PORCH. CASEY GETS INJURED. MAMA'S LIABILITY INS. POLICY HAS A LIMIT SET AT $500,000. THIS AMOUNT APPLIES TO THE TOTAL OF DAMAGES FOR ANY BODILY INJURY AND PROPERTY DAMAGE RESULTING FROM ONE ACCIDENT. Which type of limit of liability does Mama have? RETENTION - WHEN A PERSON DECIDES NOT TO BUY INSURENCE BECAUSE OF THE COST - WHAT METHOD OF RISK AS BEEN UNDERTAKEN? THE LAW - LEGAL LIABILITY IS WHEN A PERSON IS CONSIDERED LIABLE FOR DAMAGE ACCORDING TO? RETENTION - WHEN APRIL PURCHASED AN INSURENCE PLOICY WITH A LARGE DEDUCTIBLE - WHAT RISK MANAGEMENT TECHNIQUE WAS SHE PARCTICING? APPRAISAL, CANCELLATION & NON-RENEWAL, AND SUBROGATION - WHAT ARE THE 3 CONDITIONS COMMONLY FOUND IN THE INSURENCE POLICY?