Connecticut Property and Casualty Insurance Exam
COMPLETE QUESTIONS AND DETAILED SOLUTIONS
LATEST UPDATE THIS YEAR (2026/2027)-JUST
RELEASED.pdf
exposure - ANSWERA condition or situation that presents
a possibility of loss.
Examples of exposure - ANSWERAuto accidents, lost
luggage on trip, pet bitting mail man, employee hurt on
job, and house fire.
,hazard - ANSWERSomething that increases the chance of
loss
risk - ANSWERThe uncertainty or chance of a loss
occurring.
exposure - ANSWERA condition or situation that presents
a possibility of loss.
Examples of exposure - ANSWERAuto accidents, lost
luggage on trip, pet bitting mail man, employee hurt on
job, and house fire.
hazard - ANSWERSomething that increases the chance of
loss
,peril - ANSWERcause of loss
Example of peril - ANSWERIf a house burns down, the
peril is the fire.
loss - ANSWERThe unintended, unforeseen damage to a
property, injury, or amount paid.
Methods of Handling Risk (STARR) - ANSWERSharing,
Transfer, Avoidance, Reduction, Retention
, Sharing - ANSWERTwo or more individuals or business
agree to pay a portion of any loss incurred by any member
of the group.
Example of Sharing - ANSWERStockholders in a
corporation share the risk.
transfer - ANSWERIt's what happens with insurance.
Example of Transfer - ANSWERThe insurer (insurance
company) agrees to pay if the insured (customer) has a
loss, the insured no longer bears that risk.
COMPLETE QUESTIONS AND DETAILED SOLUTIONS
LATEST UPDATE THIS YEAR (2026/2027)-JUST
RELEASED.pdf
exposure - ANSWERA condition or situation that presents
a possibility of loss.
Examples of exposure - ANSWERAuto accidents, lost
luggage on trip, pet bitting mail man, employee hurt on
job, and house fire.
,hazard - ANSWERSomething that increases the chance of
loss
risk - ANSWERThe uncertainty or chance of a loss
occurring.
exposure - ANSWERA condition or situation that presents
a possibility of loss.
Examples of exposure - ANSWERAuto accidents, lost
luggage on trip, pet bitting mail man, employee hurt on
job, and house fire.
hazard - ANSWERSomething that increases the chance of
loss
,peril - ANSWERcause of loss
Example of peril - ANSWERIf a house burns down, the
peril is the fire.
loss - ANSWERThe unintended, unforeseen damage to a
property, injury, or amount paid.
Methods of Handling Risk (STARR) - ANSWERSharing,
Transfer, Avoidance, Reduction, Retention
, Sharing - ANSWERTwo or more individuals or business
agree to pay a portion of any loss incurred by any member
of the group.
Example of Sharing - ANSWERStockholders in a
corporation share the risk.
transfer - ANSWERIt's what happens with insurance.
Example of Transfer - ANSWERThe insurer (insurance
company) agrees to pay if the insured (customer) has a
loss, the insured no longer bears that risk.
