State Farm Certification Exam Verified Answers ( Grade A+)

STATE FARM P&C LICENSING EXAM
With Correct Answers




UNCERTAINTY OF LOSS - correct answers RISK t t t t t t




TRANSFER OF RISK FROM THE INSURED TO THE INSURER - correct answers INSURANCE
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NO CHANCE OF GAIN; INSURABLE - correct answers PURE RISK
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A CHANCE OF LOSS OR GAIN; NOT INSURABLE - correct answers SPECULATIVE RISK
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SOMETHING THAT INCREASES THE RISK - correct answers HAZARD
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STATES THAT THE PURPOSE OF THE POLICY IS TO RESTORE THE INSURED FINANCIALLY TO WHERE THEY WERE
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PRIOR TO THE LOSS - correct answers PRINCIPLE OF INDEMNITY
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MUST EXIST ON A CAUALTY POLICY AT TIME OF LOSS IN ORDER FOR THE POLICY TO PROVIDE COVERAGE -
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correct answers INSURABLE INTEREST
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USED TO PREDICT THE LIKELIHOOD OF LOSS - correct answers LAW OF LARGE NUMBERS
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