KY Property & Casualty Insurance Exam fully solved graded A+ 2024

KY Property & Casualty Insurance ExamFaulty wiring in a home is an example of a: a) loss b) peril c) risk d) hazard - correct answer Hazard When a person buys insurance what method of handling risk has been undertaken? a) transfer b) reduction c) avoidance d) retention - correct answer Transfer In property and casualty insurance, insurable interest must exist: a) at the time a change is made to a policy b) at the time of policy application c) at the time of loss d) at the time of policy solicitation - correct answer At the time of loss All of the following actions by a person could be described as a risk avoidance EXCEPT: a) investing in the stock market b) refusing to scuba dive c) never flying in an airplane d) taking a flu shot each year - correct answer Investing in the stock market Which of the following insurance options would be considered a risk-sharing arrangement ?