GA PROPERTY & CASUALTY TEST
QUESTIONS AND ANSWERS 100% PASS
Pure risk - answer✔✔-type of risk which insurance companies will insure
is called?
Randy, the owner of a small business applied for fire insurance with limits
equal to 100% of the property value. He had a huge unsold inventory and a
large gambling debt. This might indicate? - answer✔✔-moral hazard
Pure & speculative risk - answer✔✔-the risk of loss may be classified as?
Aggregate limit of liability - answer✔✔-defined as the maximum limit of
coverage available under a liability policy during a policy year-
irregardless of the number of choices that may occur
Combined single - answer✔✔-mama is driving her car through a
residential area and looses control of the car and crashed into casy's front
porch. Casey gets injured. Mama's liability ins. Policy has a limit set at
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, $500,000. This amount applies to the total of damages for any bodily injury
and property damage resulting from one accident.
Which type of limit of liability does mama have?
Retention - answer✔✔-when a person decides not to buy insurence because
of the cost - what method of risk as been undertaken?
The law - answer✔✔-legal liability is when a person is considered liable for
damage according to?
Retention - answer✔✔-when april purchased an insurence ploicy with a
large deductible - what risk management technique was she parcticing?
Appraisal,
Cancellation & non-renewal, and
Subrogation - answer✔✔-what are the 3 conditions commonly found in the
insurence policy?
Concealment - answer✔✔-the failure to disclose all known facts is called?
Declarations - answer✔✔-the part of a property policy which shows the
amount of insurence, premium and policy terms is the?
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QUESTIONS AND ANSWERS 100% PASS
Pure risk - answer✔✔-type of risk which insurance companies will insure
is called?
Randy, the owner of a small business applied for fire insurance with limits
equal to 100% of the property value. He had a huge unsold inventory and a
large gambling debt. This might indicate? - answer✔✔-moral hazard
Pure & speculative risk - answer✔✔-the risk of loss may be classified as?
Aggregate limit of liability - answer✔✔-defined as the maximum limit of
coverage available under a liability policy during a policy year-
irregardless of the number of choices that may occur
Combined single - answer✔✔-mama is driving her car through a
residential area and looses control of the car and crashed into casy's front
porch. Casey gets injured. Mama's liability ins. Policy has a limit set at
Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 1/8
, $500,000. This amount applies to the total of damages for any bodily injury
and property damage resulting from one accident.
Which type of limit of liability does mama have?
Retention - answer✔✔-when a person decides not to buy insurence because
of the cost - what method of risk as been undertaken?
The law - answer✔✔-legal liability is when a person is considered liable for
damage according to?
Retention - answer✔✔-when april purchased an insurence ploicy with a
large deductible - what risk management technique was she parcticing?
Appraisal,
Cancellation & non-renewal, and
Subrogation - answer✔✔-what are the 3 conditions commonly found in the
insurence policy?
Concealment - answer✔✔-the failure to disclose all known facts is called?
Declarations - answer✔✔-the part of a property policy which shows the
amount of insurence, premium and policy terms is the?
Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 2/8
