GA Property & Casualty Exam,
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Insurance policy covers what type of losses - ANSWER✅✅ Direct and Indirect
In order to have an indirect loss, you must have - ANSWER✅✅ a direct loss
What does property insurance cover? - ANSWER✅✅ structures and contents
Direct loss - ANSWER✅✅ physical destruction of property by lightening, wind, fire,
theft, etc
Indirect loss - ANSWER✅✅ consequences of direct losses - e.g. loss of income,
additional expenses to live, loss of rental income, etc.
What is the purpose of personal lines insurance? - ANSWER✅✅ Coverage for
personal activities of the insured for losses that might take place
What is the purpose of commercial insurance? - ANSWER✅✅ policies that cover
NON personal activities of the insured where losses might take place
Who transfers risk in insurance? - ANSWER✅✅ Insurance involves transfer of YOUR
risk to other people for your losses to be covered
How do insurance companies use premiums? - ANSWER✅✅ Insurance companies
use our premiums to cover losses of the few.
Named Insured - ANSWER✅✅ HIGHEST ranking insured for any policy
Verified Exam Questions with 1005
Correct Answers, All Graded
A+,Latest Expert Premium
Update(2025-2026)|>100%
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Insurance policy covers what type of losses - ANSWER✅✅ Direct and Indirect
In order to have an indirect loss, you must have - ANSWER✅✅ a direct loss
What does property insurance cover? - ANSWER✅✅ structures and contents
Direct loss - ANSWER✅✅ physical destruction of property by lightening, wind, fire,
theft, etc
Indirect loss - ANSWER✅✅ consequences of direct losses - e.g. loss of income,
additional expenses to live, loss of rental income, etc.
What is the purpose of personal lines insurance? - ANSWER✅✅ Coverage for
personal activities of the insured for losses that might take place
What is the purpose of commercial insurance? - ANSWER✅✅ policies that cover
NON personal activities of the insured where losses might take place
Who transfers risk in insurance? - ANSWER✅✅ Insurance involves transfer of YOUR
risk to other people for your losses to be covered
How do insurance companies use premiums? - ANSWER✅✅ Insurance companies
use our premiums to cover losses of the few.
Named Insured - ANSWER✅✅ HIGHEST ranking insured for any policy
