12-GA-62l Georgial Variablel Productsl
Examl (Latestl 2026/l 2027l Update)l Review|l
100%l Verifiedl Questionsl &l Answersl |l
Gradel A
Q:l Insurancel isl al transferl of?
Answer:
Riskl ofl loss
Q:l Definedl asl thel causesl ofl lossl insuredl againstl inl anl insurancel policy?
Answer:
Perils
Q:l Whatl typel ifl ruskl dol insurancel insurel against?
Answer:
Purel risks
Q:l Definedl asl thel reduction,l decrease,l orl disappearancel ofl valuel ofl thel personl orl
propertyl insuredl inl al policy,l causedl byl al namedl peril
Answer:
Loss
Q:l ____l isl al chancel thatl al lossl willl occur
Answer:
,Risk
Q:l _____l increasesl thel probabilityl ofl loss
Answer:
Hazard
Q:l ____l isl thel causel ofl loss
Answer:
Peril
Q:l _____l isl al unitl ofl measurel usedl tol determinel ratesl chargedl forl insurancel coverage
Answer:
Exposure
Q:l Inl lifel insurancel alll ofl thel followingl factorsl arel consideredl inl determiningl rates:
Answer:
Agel ofl insured
Medicall history
Occupation
Sex
Q:l Al largel numberl ofl unitsl havingl thel samel orl similarl exposurel tol lossl isl knownl
as?
Answer:
Homogeneous
, Q:l Whatl isl thel plannedl assumptionl ofl riskl byl anl insuredl throughl thel usel ofl
deductibles,l co-paymentsl orl selfl insurance?
Answer:
Riskl Retention
Q:l Thel purposel ofl riskl retentionl is?
Answer:
1)l Tol reducel expensesl andl improvel cashl flow
2)l Increasel controll ofl claiml reservingl andl claimsl settlement
3)l Fundl forl lossesl thatl cannotl bel insured
Q:l Al reciprocall insurancel exchangel isl al formal?
Answer:
Riskl sharingl arrangement
Q:l Insurablel risksl involvel thel followingl 5l characteristics:
Answer:
Duel tol Chance
Definitel andl measurable
Statisticallyl predicable
Notl catastrophic
Randomlyl selectedl andl largel lossl exposure
Q:l Thel originatingl companyl thatl procuresl insurancel onl itselfl froml anotherl insurerl isl
calledl the?l Thel otherl insurerl isl calledl the?
Answer:
Cedingl insurer
Assumingl insurerl orl reinsurer
Examl (Latestl 2026/l 2027l Update)l Review|l
100%l Verifiedl Questionsl &l Answersl |l
Gradel A
Q:l Insurancel isl al transferl of?
Answer:
Riskl ofl loss
Q:l Definedl asl thel causesl ofl lossl insuredl againstl inl anl insurancel policy?
Answer:
Perils
Q:l Whatl typel ifl ruskl dol insurancel insurel against?
Answer:
Purel risks
Q:l Definedl asl thel reduction,l decrease,l orl disappearancel ofl valuel ofl thel personl orl
propertyl insuredl inl al policy,l causedl byl al namedl peril
Answer:
Loss
Q:l ____l isl al chancel thatl al lossl willl occur
Answer:
,Risk
Q:l _____l increasesl thel probabilityl ofl loss
Answer:
Hazard
Q:l ____l isl thel causel ofl loss
Answer:
Peril
Q:l _____l isl al unitl ofl measurel usedl tol determinel ratesl chargedl forl insurancel coverage
Answer:
Exposure
Q:l Inl lifel insurancel alll ofl thel followingl factorsl arel consideredl inl determiningl rates:
Answer:
Agel ofl insured
Medicall history
Occupation
Sex
Q:l Al largel numberl ofl unitsl havingl thel samel orl similarl exposurel tol lossl isl knownl
as?
Answer:
Homogeneous
, Q:l Whatl isl thel plannedl assumptionl ofl riskl byl anl insuredl throughl thel usel ofl
deductibles,l co-paymentsl orl selfl insurance?
Answer:
Riskl Retention
Q:l Thel purposel ofl riskl retentionl is?
Answer:
1)l Tol reducel expensesl andl improvel cashl flow
2)l Increasel controll ofl claiml reservingl andl claimsl settlement
3)l Fundl forl lossesl thatl cannotl bel insured
Q:l Al reciprocall insurancel exchangel isl al formal?
Answer:
Riskl sharingl arrangement
Q:l Insurablel risksl involvel thel followingl 5l characteristics:
Answer:
Duel tol Chance
Definitel andl measurable
Statisticallyl predicable
Notl catastrophic
Randomlyl selectedl andl largel lossl exposure
Q:l Thel originatingl companyl thatl procuresl insurancel onl itselfl froml anotherl insurerl isl
calledl the?l Thel otherl insurerl isl calledl the?
Answer:
Cedingl insurer
Assumingl insurerl orl reinsurer
