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USAA Licensing Exam QUESTIONS AND ANSWERS | VERIFIED UPDATE
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25
February 2024
2023/2024
A+
USAA Licensing Exam QUESTIONS
AND ANSWERS | VERIFIED UPDATE
Insurance - ANSWER Transfer of risk from one person or organization to
an insurance company
Indemnity - ANSWER The principle to restore the insured to the pre-loss
economic or financial condition.
Law of Large numbers - ANSWER Mathematical principle used by
insurers to predict losses to charge the appropriate premiums
Insurable Interest - ANSWER Proof that someone stands to lose
financially if a loss occurs; must exist at the t...
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