WASHINGTONSTATEINSURANCEEXAM(2025)Q&A:VERIFIEDCORRECTANSWERS,EXAMSOFNURSING

1



WASHINGTONSTATEI
NSURANCE
EXAM (
2025)Q&A:
VERI
FIED
CORRECTANSWERS,EXAMSOF
NURSI
NG


pol
icyowner-ANSWER✓✓us ual
l
y,
butnotal
wayst
heper
soncov
eredby
t
hepolicy


benef
ici
ary-ANSWER✓✓t
heper
son
whoispaidwhenacl
ai
m
i
ssubmi
t
ted


agent/
producer-ANSWER✓✓act
sas
alegalr
epresent
ati
ve
oft
hei
nsur
ancecompany

,2



br
oker-ANSWER✓✓r epres
entat
i
veof
t
heInsur
ed,
nott
hei
nsurancecompany


ri
sk-ANSWER✓✓Thechanceor
uncer
tai
ntyofl
oss


Pureri
sk-ANSWER✓✓t hechanceof
exper
ienci
ngaloss(wi
thoutt
he
possi
bil
i
tyofgai
n).Onl
ydowns i
de,no
upsi
de.


Speculati
ver
isk-ANSWER✓✓sthe
chanceoflos
soneaccept
sint
hehope
ofreal
i
z i
ngagain


Ri
skavoidance-ANSWER✓✓s tay
ing
awayfr
omr is
kyact
iv
it
iesal
t
oget
her

,3



Riskreduct
ion-ANSWER✓✓r educe
thechanceofsomethi
ngbad
happening


Ris
kshif
ti
ng-ANSWER✓✓Get
someoneels
etoacceptt
her
isk


Buyi
nginsur
ance-ANSWER
✓✓transf
erapor
ti
onofy
ourr
iskt
othe
I
nsur
er


Ri
skRet ention-ANSWER✓✓t he
i
ndiv
idual orbusi
nesst
hatopt
snotto
buyinsuranceretai
nst
heenti
reri
sk


I
ndemnif
icati
on-ANSWER✓✓an
i
nsur
anceconceptthatst
atesthat
someporti
onsoft
heinsuranceindus
try

, 4



pref
erthatwebemadeonl ywholeaft
er
alossrathert
hancomingoutahead
(Onlygetti
ngbackwhatyouareowed,
notgett
ingmor et
hanwhatyouhadto
star
twith)


Subrogati
on-ANSWER✓✓t he
t
r ans
fert
ot heInsur
eroft
heIns
ured'
s
ri
ghtstorecoverdamagesfr
oma
responsi
blethi
rdparty


Per
il
-ANSWER✓✓t
hecaus
eofl
oss


LawofLargenumbers-ANSWER
✓✓themathemati
calconceptthat
makesi
teasi
ertopr
edictl
oss esi
fwe
hav
ealargenumberofInsureds