Property and Casualty Exam – Texas | Study
Guide Questions with Verified Answers | 2026 |
2027 (Rated A) Latest Update.
Save
Terms in this set (729)
____ is uncertainty of loss risk
____ is a transfer of risk from the insurance
insured to the insurer
____ risk means there is no chance of pure
gain. It is insurable.
____ risk means there is a chance of a speculative
loss or a gain. It is not insurable.
a ____ is something that increases the hazard
risk.
the principle of _____ governs indemnity
property and casualty policies. It
states that the purpose of the
policy is to restore the insured
financially to where they were prior
to the loss
, _____ _____ must exist on a casualty insurable interest
policy at time of loss in order for
the policy to provide coverage.
the law of _____ _____ is used to large numbers
predict the likelihood of loss
____ ____ ____ is replacement cost actual cash value
minus depreciation.
________ is a tort, or civil wrong; it is Negligence
grounds for a lawsuit.
_______ is the failure to act as a negligence
reasonable person would in the
same set of circumstances
an _____ happens over a period of Occurrence
time
a _____ may be oral or written binder
a _____ provides coverage until the binder
policy is issued. it includes all
coverages provided by the policy.
a ____ is a literal truth warranty
a _______ is a substantial truth. in representation
insurance, statements of the
applicant/policyowner are _______ -
true to the best of their knowledge
Guide Questions with Verified Answers | 2026 |
2027 (Rated A) Latest Update.
Save
Terms in this set (729)
____ is uncertainty of loss risk
____ is a transfer of risk from the insurance
insured to the insurer
____ risk means there is no chance of pure
gain. It is insurable.
____ risk means there is a chance of a speculative
loss or a gain. It is not insurable.
a ____ is something that increases the hazard
risk.
the principle of _____ governs indemnity
property and casualty policies. It
states that the purpose of the
policy is to restore the insured
financially to where they were prior
to the loss
, _____ _____ must exist on a casualty insurable interest
policy at time of loss in order for
the policy to provide coverage.
the law of _____ _____ is used to large numbers
predict the likelihood of loss
____ ____ ____ is replacement cost actual cash value
minus depreciation.
________ is a tort, or civil wrong; it is Negligence
grounds for a lawsuit.
_______ is the failure to act as a negligence
reasonable person would in the
same set of circumstances
an _____ happens over a period of Occurrence
time
a _____ may be oral or written binder
a _____ provides coverage until the binder
policy is issued. it includes all
coverages provided by the policy.
a ____ is a literal truth warranty
a _______ is a substantial truth. in representation
insurance, statements of the
applicant/policyowner are _______ -
true to the best of their knowledge
