AL P&C Test Questions and Answers & Verified Solutions Latest 2024/2025 (VERIFIED)

AL P&C Test Questions and Answers & Verified Solutions Latest 2024/2025 (VERIFIED) Which is the best example of an indirect loss? A. Sequential loss B. Liability loss C. Employee theft D. Loss of use - correct answer D. Loss of use AL P&C Test Questions and Answers (Verified Solutions) Latest 2024/2025 Graded A+ - University of Alabama Which is a two party contract? A. Property B. Casualty C. Liability D. Auto - correct answer A. Property Insurance contracts offset A. speculative risk B. pure risk C. gambling D. created risk - correct answer B. Pure risk Which of the following is a third party contract? A. Property B. Casualty C. Earthquake D. Theft - correct answer B. Casualty Risk is best define as A. chance of loss B. certainty of loss C. financial loss D. sentimental loss - correct answer A. chance of loss Being subject to a loss is A. liability B. indemnity C. exposure D. subrogation - correct answer C. exposure The ranking insured in a Personal Lines contract is the A. named insured B. first named insured C. mortgagee D. husband - correct answer A. named insured To be paid a claim under a P & C contract, insurable interest must exist A. At the time of application B. on the policy date C. at the time of loss D. at the time of claim settlement - correct answer C. at the time of loss This type of company is run for the benefit of the policyowners: A. Stock B. Mutual C. Foreign D. Alien - correct answer B. Mutual Ohio Casualty is doing regular business in Indiana. Within the same state of Indiana, Ohio Casualty would be considered a(n) A. domestic company B. nonadmitted company C. alien company D. foreign Company - correct answer D. Foreign