Texas Property & Casualty Insurance Exam Questions And Answers

Texas Property & Casualty Insurance Exam Questions And Answers A condition or situation that presents a possibility of loss is a (an): - ANS exposure The purpose of insurance is to: - ANS transfer risk Which hazard can be described as a careless attitude or general indifference on the part of the insured toward the occurrence of loss? - ANS morale Which risk is insurable? - ANS pure With regard to insurance, risk can be defined as: - ANS uncertainty regarding loss Treating risk by purchasing insurance is an example of what type of risk management? - ANS transfer Robert and Carolyn live in a busy city and decide that not owning a car is the solution to not experience having a car stolen. What method describes this philosophy? - ANS avoidance Dishonesty on the part of an insured is an example of what? - ANS a moral hazard What is an example of reduction as a method of handling risk? - ANS Installing a burglar alarm Driving too fast and not wearing a seat belt are examples of? - ANS morale hazard The risk that involves the chance of both loss and gain is? - ANS speculative risk Self-insurance is an example of wh