Personal Lines Insurance Exam Questions with Correct
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A contract that pays a stated amount in the event of a loss. Most policies are NOT valued
contracts.
Choose an answer
1 Aleatory Contract 2 Unilateral Contract
3 Endorsement 4 Valued Contract
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Terms in this set (35)
Aleatory Contract The exchange of value is unequal. Insured's premium payment if less than the
potential benefit to be received in the event of a loss. The insurer's payment in
the event of a loss may be much greater, or much less, than the insured's
premium payment.
Valued Contract A contract that pays a stated amount in the event of a loss. Most policies are
NOT valued contracts.
Answers Pass the Exam, 100% Verified ()
Graded A+
Leave the first rating
Save
Students also studied
Louisiana Personal Lines Insurance ... Personal Umbrella Insurance: Cover... Louisiana Personal Lines Exam Pe
115 terms 17 terms 109 terms 84
victoriacobain67 Preview Jdizzle7070 Preview kevin_quebodeaux Preview
Practice questions for this set
Learn 1 /7 Study with Learn
A contract that pays a stated amount in the event of a loss. Most policies are NOT valued
contracts.
Choose an answer
1 Aleatory Contract 2 Unilateral Contract
3 Endorsement 4 Valued Contract
Don't know?
Terms in this set (35)
Aleatory Contract The exchange of value is unequal. Insured's premium payment if less than the
potential benefit to be received in the event of a loss. The insurer's payment in
the event of a loss may be much greater, or much less, than the insured's
premium payment.
Valued Contract A contract that pays a stated amount in the event of a loss. Most policies are
NOT valued contracts.
