PROPERTY AND CASUALTY INSURANCE EXAM PREP QUESTIONS AND ANSWER | LATEST UPDATE

2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!




PROPERTY AND CASUALTY INSURANCE EXAM
PREP QUESTIONS AND ANSWER | LATEST
UPDATE
Accident


✓ -:- Sudden, unexpected event resulting in damage or injury




Occurrence


✓ -:- Loss caused by repeated or continuous exposure to conditions




Direct Loss


✓ -:- Physical damage to personal property or buildings




Indirect Loss


✓ -:- Loss resulting from a direct loss, such as time to replace or repair

damaged property




Named Peril


✓ -:- Coverage for specific perils listed in the insurance policy




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, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!


Special Peril


✓ -:- Coverage for any risk of loss not explicitly excluded




Damages


✓ -:- Monetary compensation for property damage or bodily injury




Tort


✓ -:- Legal wrong that causes injury or damage to another




Property Damage


✓ -:- Loss of value or use of property due to injury or destruction




Bodily Injury


✓ -:- Physical harm or injury to a person




Compensatory Damages


✓ -:- Monetary compensation for losses suffered by the injured party




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