PA Property and Casualty fully solved graded A+

PA Property and Casualty Casualty or Liability - correct answer refers to your legal responsibility to pay for damage that you do to the "other guy's" body or property. Personal lines insurance - correct answer written to cover the risk exposures of an individual or family (auto, home, boat, camper and RV) Commerical lines insurance - correct answer provide for the insurance needs of a business Named insureds - correct answer On a homeowner's policy, the policy owners(husband and wife) First name insured - correct answer in a commercial property (the owner) Prorata refund - correct answer 50% of your money back (if company cancels you) Short rate refund - correct answer if you cancel the company Risk - correct answer chance of loss Pure risk - correct answer you can only lose, you cannot win Speculative risk - correct answer risk that is created (placing a bet) you can win or lose Direct loss - correct answer house burns down Indirect loss - correct answer "loss of use" follows a direct loss (money you have to spend to live elsewhere)