Exam Fx Chapter 2 - Property and Casualty Insurance Basics questions with correct answers

Financial(monetary interest) Blood(a relative) Business(a business partner) CORRECT ANSWER-3 elements of insurable risk at the time of the loss CORRECT ANSWER-In property and casualty insurance, insurable interest must exist __ ___ ____ __ ___ ____ insured CORRECT ANSWER-anyone who is covered under the policy, whether named or not named insured CORRECT ANSWER-the individual whose name appears on the policy's declaration first named insured CORRECT ANSWER-the individual whose name appears first on the policy's declaration. additional insureds CORRECT ANSWER-Individuals or business that are not named as insured on the declaration page, but are protected by the policy, usually in regard to a specific interest. accident CORRECT ANSWER-A sudden,