IDAHO PROPERTY INSURANCE EXAM 2024 (GRADED A+)

The term flood refers to all of the following EXCEPT A. an overflow of inland tidal waters B. collapse of land as a result of excessive erosion due to flood C. mudslides D. sewer backup correct answers Sewer backup Insurers may be classified according to their financial strength. This includes all of the following factors EXCEPT... A. Number of clients B. Loss experience C. Investment performance D. Operating expenses correct answers Number of clients An individual applied for auto insurance and obtained coverage from ABC IC. Who is the 1st party in the contract? A. The insured (customer) B. The insurer (IC) C. The agent D. The insured and agent correct answers A. The insured (customer) If a fire causes damage to a building, the fire is... A. A Hazard B. A Peril C. A Risk D. An Exposure correct answers B. A Peril Wearing a seatbelt in a car is an ex of which method of managing risk? A. Retain B. Avoid C. Reduce D. Transfer correct answers C. Reduce Tiffany leaves her car unlocked when she goes shopping. She figures her car and its contents are insured, so there is no reason to worry. Which type of hazard is this an example of? A. Physical B. Morale C. Careless D. Moral correct answers Morale