Peril and hazard Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Peril and hazard? On this page you'll find 1948 study documents about Peril and hazard.
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WebCE Property & Casualty Prep Exam Questions and Answers 2023
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WebCE Property & Casualty Prep Exam Questions and Answers 2023 
Risk 
Chance of loss 
 
 
 
5 Risk or Loss Factors 
1. Risk 2. Loss 3. Exposure 4. Peril 5. Hazard 
 
 
 
Insurance allows: 
Individual or group to transfer over to insurance company the risk of financial loss from a destructive event 
 
 
 
Fundamental purpose of insurance is: 
To indemnify policyholder against covered losses or restore policyholder back to same financial position they were in before 
 
 
 
Insurance companies may ...
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CA Life and Health Exam Questions and Answers Already Passed
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CA Life and Health Exam Questions and Answers Already Passed What is insurance? Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. 
What's the difference between pure risk and speculative risk? Pure risk is when you'll lose it all or there will be no change. Speculative risk you can either win or lose. 
What is peril? peril is the causes of loss insured against in an insurance policy 
What is hazard? conditions that increase the pr...
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CISR - Elements of Risk Management Exam 132 Questions with Answers,100% CORRECT
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CISR - Elements of Risk Management Exam 132 Questions with Answers 
 
 
A ____ is a cause of loss - CORRECT ANSWER peril 
 
A situation, behavior, or condition that may lead to adverse financial consequences - CORRECT ANSWER exposure 
 
A cyberattack is an example of a ____ - CORRECT ANSWER peril 
 
An Insured who shows no regard for his insured property demonstrates a - CORRECT ANSWER morale hazard 
 
A spill on a supermarket aisle is an example of a ____ because it increases the likelihood...
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N.C. Claims Adjuster Exam Latest 2023 Rated A+
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N.C. Claims Adjuster Exam Latest 2023 Rated A+ Inception/Expiration Date an insurance policy covers the insured starting at 12:01am on the day on which coverage begins and expires at 12:01am on the expiration day of the policy. 
Occurrence Date Date of which the loss occurred 
Identification of parties involved The loss report should include the names and addresses of the parties involved in the loss, the names and addresses of any injured person(s) and the names and addresses of any witness(s)....
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Claims Adjuster Final (Multiple Choice Questions) 2022/2023
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An adjuster is a fiduciary agent with a responsibility of loyalty to the interest of 
The insured and insurer 
 
 
 
An insurer gives which of the following as Consideration for an insurance policy? 
A Promise 
 
 
 
The interest of the insured and all other persons in the property involved in a claim is 
found in 
A Proof of Loss 
 
 
 
An insured rear-ends another driver's vehicle. The auto policy that pays damages to 
repair the damaged vehicle is a _______? 
Liability Policy 
 
 
 
Your ins...
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NYS Insurance Licensing Exam Latest 2023 Graded A
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NYS Insurance Licensing Exam Latest 2023 Graded A insurance transfers the risk of an loss for an individual or business to an insurance company which spreads out the costs to many individuals 
agency contract a contract that is held between insurer and an agent/producer containing the expressed authority given to the agent/producer, and the duties/responsibilities to the principal, any agent in violation of the agency contract may be held personally liable to the insurer 
agent legal representat...
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NJ Property State Exam Questions and Answers
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Risk - ANSWER-the chance or uncertainty of loss 
 
Risk - ANSWER-used within the insurance industry to refer to the subject of the insurance policy 
 
Possibility of loss - ANSWER-the concept of risk involves ___________________ 
 
Insurance - ANSWER-a formal social device used to accomplish the transfer of risk from an insured to the insurer 
 
Insurance policy - ANSWER-a legal contract in which the premium paid represents a small certain cost exchanged so that the insurer will cover the possib...
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ADJUSTER PRO - INSURANCE ADJUSTER TEST(QUESTIONS AND REVIEWED ANSWERS) 2023-2024
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ADJUSTER PRO - INSURANCE 
ADJUSTER TEST(QUESTIONS AND 
REVIEWED ANSWERS) 2023-2024 
What is insurance? - CORRECT ANSWER-protection against financial loss 
what is a premium - CORRECT ANSWER-a scheduled amount to be paid for an 
insurance policy. 
What are premiums used for - CORRECT ANSWER-premiums are collected into a 
"pool" or "reserve to pay out claimants when needed. 
how can insurance companies afford to pay for an individuals catastrophic loss? - 
CORRECT ANSWER-the insurer collect...
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Florida Life and Variable Annuity 100% Correct
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peril - ANSWER the immdeiate specific event causing loss and giving rise to risk 
 
hazard - ANSWER any factor that gives rise to a peril 
 
physical hazard - ANSWER individual characteristics that increase chance of peril 
*physical condition, past medical history, condition at birth 
 
moral hazard - ANSWER tendencies that people may have that increase risk and chance of loss *drug addiction and alcholism 
 
morale hazard - ANSWER individual tendencies that arise from an attitude or state of m...
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Florida Claims Adjuster Exam 2023 , 6-20 All Lines Adjuster- Florida- Review
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Florida Claims Adjuster Exam 2023 
 
1.	Peril: Something that causes a loss. 
 
2.	Hazard: Something that increases the probability that a loss will occur. 
 
 
 
 
3.	Warranty: A policy condition, either based on information in the i nsureds appli- cation or inserted by the insurer. It is a guarantee of a fact. 
 
4.	Misrepresentation: An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. 
 
 
 
5.	Concealment: Th...