Prometric Practice Test (Verified answers) with Complete Solution

Monetary damages awarded to an injured party must be based on all of the following elements EXCEPT: a. Damages as the proximate result b Negligence c. Available insurance d. A legal duty owed - c The risk of financial loss that an individual faces illustrates the principle of: a. Indemnity b. Limit of recovery c. Subrogation d. Insurable interest - d Under a Homeowners Policy, the insured location includes all of the following EXCEPT: a. A cemetery plot b. A secondary location used by the insured for a business c. Vacant land on which the insured plans to build a house d. A motel room in which the insured is residing temporarily - b If Policy A states that it will pay after payment by other applicable policies, Policy A is: a. Excess b. Primary c. Pro rata d. Reinsurance - a