GA Property & Casualty Exam Questions and Answers 100% Pass
GA Property & Casualty Exam Questions and Answers 100% Pass Insurance policy covers what type of losses - Correct Answer ️️ -Direct and Indirect In order to have an indirect loss, you must have - Correct Answer ️️ -a direct loss What does property insurance cover? - Correct Answer ️️ -structures and contents Direct loss - Correct Answer ️️ -physical destruction of property by lightening, wind, fire, theft, etc Indirect loss - Correct Answer ️️ -consequences of direct losses - e.g. loss of income, additional expenses to live, loss of rental income, etc. What is the purpose of personal lines insurance? - Correct Answer ️️ -Coverage for personal activities of the insured for losses that might take place What is the purpose of commercial insurance? - Correct Answer ️️ -policies that cover NON personal activities of the insured where losses might take place Who transfers risk in insurance? - Correct Answer ️️ -Insurance involves transfer of YOUR risk to other people for your losses to be covered How do insurance companies use premiums? - Correct Answer ️️ -Insurance companies use our premiums to cover losses of the few. Named Insured - Correct Answer ️️ -HIGHEST ranking insured for any policy
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