CT INSURANCE LIC EXAM QUESTIONS WITH 100% CORRECT ANSWERS

CT INSURANCE LIC EXAM QUESTIONS WITH 100% CORRECT ANSWERS PERIL - Correct Answer-the cause of loss (fire, explosion, windstorm, flood, theft, collision) HAZARD - Correct Answer-a condition that increases the chance of a peril (moral, morale, physical) RISK MANAGEMENT - Correct Answer-process we all use to manage life's risk Risk Transfer - Correct Answer-the risk management role played by insurance INSURABLE RISK - Correct Answer-loss must be definable, measurable, outside of applicant's control, not catastrophic. Only pure risk are insurable ADVERSE SELECTION - Correct Answer-Tendency of high risk to seek insurance MUTUAL COMPANIES - Correct Answer-owned by policyowners, issue participating policies which pay policy dividends to their policyowners STOCK COMPANIES - Correct Answer