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Primerica: Life insurance policies EXAM WITH 100% CORRECT ANSWERS 2025/ 2026
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Primerica: Life insurance policies EXAM WITH 100% CORRECT ANSWERS 2025/ 2026 What is insurance? -Transfer of the possibility of loss (risk) to an insurance company. What is a risk? -The uncertainty of financial loss There are two types of loss -Pure and Speculative Which type of loss is insurable? -Pure Why is Pure loss insurable? -Loss must be financial and uncertain. No financial gain can occur. What causes loss? -Peril; such as fire, accident or flood What causes a peril? -A hazard What is a hazard? -Increases the likelihood of a loss; such as smoking
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