RIBO LEVEL 1 (ACTUAL EXAM) EXAM WITH
CORRECT ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST ALREADY
GRADED A+
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Practice questions for this set
Learn 1 /7 Study with Learn
is what a reasonable and prudence person would do or not do in a similar
situation
Choose an answer
1 Indemnify 2 Negligence
, 3 Speculative risk 4 Indemnity
Don't know?
Terms in this set (50)
Indemnify The action of compensating an insured following a
loss under the insurance policy.
Risk The chance of loss;
or an object or activity that is insured (about to be
insured)
Peril An event that may cause a loss to occur
Object of Insurance The item that is insured or covered in an insurance
policy
Indemnity to put you back in the same financial position ( just
prior to loss) NO BETTER NO WORSE
Insured / Policy holder The person who purchases an insurance policy
Noted as First Party
CORRECT ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST ALREADY
GRADED A+
Play your way to mastery with fun games
Match Blocks Charms NEW
Practice questions for this set
Learn 1 /7 Study with Learn
is what a reasonable and prudence person would do or not do in a similar
situation
Choose an answer
1 Indemnify 2 Negligence
, 3 Speculative risk 4 Indemnity
Don't know?
Terms in this set (50)
Indemnify The action of compensating an insured following a
loss under the insurance policy.
Risk The chance of loss;
or an object or activity that is insured (about to be
insured)
Peril An event that may cause a loss to occur
Object of Insurance The item that is insured or covered in an insurance
policy
Indemnity to put you back in the same financial position ( just
prior to loss) NO BETTER NO WORSE
Insured / Policy holder The person who purchases an insurance policy
Noted as First Party
