Kentucky Property and Casualty Insurance
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Insurance is a means of
Choose matching term
1 Transferring risk 2 Peril
3 Commercial Package Policy (CPP) 4 Consideration
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Terms in this set (44)
, In which of the following a car in which you are still paying on, a home yiu have
would you have an rented to a tenant
insurable interest?
Transferring risk Insurance is a means of
An Inusrable Risk Hail damage to a car
Peril the cause of loss EXAMPLE Fire, flood, volcanoe.
Arises Through an individuals carelessness or
Morale Hazard irresponsible actions. EXAMPLE, leaving a lit cigarette
in your ashtray and leaving the house
DDICE
Parts of an insusrance
Declarations, Definition, Insuring agreements,
contract
Conditions, Exclusions
The insusrance contract is Becauze an insured may collect no more than the
considered a contract of amount required to restore him or her to the same
indemnity financial condition that existed prior to the loss
CLOC
Parts of a Legal Contract Competent parties, Legal purpose, offer and
acceptance, Consideration
Thing of value exchanged for the performance
Consideration
promised in the contract.
An inusrace Policy is The insurace company is not the only party obligated
considered a unilateral to perform under the inusrance contract.
contract because
What constitutes an A specific offer by one party and acceptance by the
agreement to enter a valid other.
contract?
Nonexclusive agent Represents more than one insurance company
The rates and policy forms inusrance companies use
Prior approval states must be approved by the insurance department of the
state where they will be used.
Licesnse Exam (Latest Update) Real
Questions and Verified Answers | 100% Correct |
Already Graded A+.
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Insurance is a means of
Choose matching term
1 Transferring risk 2 Peril
3 Commercial Package Policy (CPP) 4 Consideration
Don't know?
Terms in this set (44)
, In which of the following a car in which you are still paying on, a home yiu have
would you have an rented to a tenant
insurable interest?
Transferring risk Insurance is a means of
An Inusrable Risk Hail damage to a car
Peril the cause of loss EXAMPLE Fire, flood, volcanoe.
Arises Through an individuals carelessness or
Morale Hazard irresponsible actions. EXAMPLE, leaving a lit cigarette
in your ashtray and leaving the house
DDICE
Parts of an insusrance
Declarations, Definition, Insuring agreements,
contract
Conditions, Exclusions
The insusrance contract is Becauze an insured may collect no more than the
considered a contract of amount required to restore him or her to the same
indemnity financial condition that existed prior to the loss
CLOC
Parts of a Legal Contract Competent parties, Legal purpose, offer and
acceptance, Consideration
Thing of value exchanged for the performance
Consideration
promised in the contract.
An inusrace Policy is The insurace company is not the only party obligated
considered a unilateral to perform under the inusrance contract.
contract because
What constitutes an A specific offer by one party and acceptance by the
agreement to enter a valid other.
contract?
Nonexclusive agent Represents more than one insurance company
The rates and policy forms inusrance companies use
Prior approval states must be approved by the insurance department of the
state where they will be used.
