Alabama Insurance Personal Lines Exam
Latest Update Questions and Answers
Graded A+|100% Guarantee Pass!!!
A morale hazard is defined as - CORRECT ANSWER-Something that occurs through an individuals
carelessness or irrespobsinke actions
A written modification that either adds or deletes coverage in a policy is called - CORRECT ANSWER-An
exclusion
, A continuous or repeated exposure which results in bodily injury or property damage which is not
expected or intended defines what? - CORRECT ANSWER-Occurrence
Vacancy means only the absence of peolel - CORRECT ANSWER-FalseWhen the insurance company
terminates your policy at the end of the policy period, this is called: - CORRECT ANSWER-Nonrenewal
A covered peril causes the insured premises to become uninhabitable until repairs can be made. What
type of loss does this describe? - CORRECT ANSWER-Indirect Loss
The primary insured in an insurance contract is the: - CORRECT ANSWER-First named insured
The process of classification, rating, and selection of risks is called: - CORRECT ANSWER-Underwriting
Which risk management method is used when you decide to purchase insurance to cover a risk? -
CORRECT ANSWER-None of the above
A risk management method where one party agrees to release the other party from any liability or
damage that might arise out of the transaction involved is called: - CORRECT ANSWER-A hold-harmless
agreement
The type of company organized for the benefit of the policy owners is a: - CORRECT ANSWER-Mutual
company
Canada Life doing business in North Carolina would be considered what type of company? - CORRECT
ANSWER-Alien company
Joe decides to give up his two favorite hobbies, skydiving, and scuba diving, because they are too risky
and could lead to his premature death. The method of dealing with risk is called: - CORRECT ANSWER-
Risk Avoidance
A peril is defined as: - CORRECT ANSWER-The cause of loss
Latest Update Questions and Answers
Graded A+|100% Guarantee Pass!!!
A morale hazard is defined as - CORRECT ANSWER-Something that occurs through an individuals
carelessness or irrespobsinke actions
A written modification that either adds or deletes coverage in a policy is called - CORRECT ANSWER-An
exclusion
, A continuous or repeated exposure which results in bodily injury or property damage which is not
expected or intended defines what? - CORRECT ANSWER-Occurrence
Vacancy means only the absence of peolel - CORRECT ANSWER-FalseWhen the insurance company
terminates your policy at the end of the policy period, this is called: - CORRECT ANSWER-Nonrenewal
A covered peril causes the insured premises to become uninhabitable until repairs can be made. What
type of loss does this describe? - CORRECT ANSWER-Indirect Loss
The primary insured in an insurance contract is the: - CORRECT ANSWER-First named insured
The process of classification, rating, and selection of risks is called: - CORRECT ANSWER-Underwriting
Which risk management method is used when you decide to purchase insurance to cover a risk? -
CORRECT ANSWER-None of the above
A risk management method where one party agrees to release the other party from any liability or
damage that might arise out of the transaction involved is called: - CORRECT ANSWER-A hold-harmless
agreement
The type of company organized for the benefit of the policy owners is a: - CORRECT ANSWER-Mutual
company
Canada Life doing business in North Carolina would be considered what type of company? - CORRECT
ANSWER-Alien company
Joe decides to give up his two favorite hobbies, skydiving, and scuba diving, because they are too risky
and could lead to his premature death. The method of dealing with risk is called: - CORRECT ANSWER-
Risk Avoidance
A peril is defined as: - CORRECT ANSWER-The cause of loss
