Texas P&C Exam (Already Passed!)

HO-2 correct answers Broad Form; owner occupant HO-3 correct answers Special Form; owner occupant HO-4 correct answers Tenants/Renters HO-5 correct answers Comprehensive Form; owner occupant HO-6 correct answers Condo owners HO-8 correct answers Modified form DP-1 correct answers Fire, lightning, internal explosion (Basic Form) DP-2 correct answers BIG AFFECT: Burglary, Ice/sleet/snow, Glass breakage, Accidental discharge of water, Freezing objects, Falling objects, Electrical Current, Collapse, Tearing asunder (Broad) DP-3 correct answers Risks of direct physical loss (Special) Law of large numbers correct answers principle that states that the more examples used to develop any statistic, the more reliable the statistic will be Insurable interest correct answers any actual, lawful, and substantial economic interest in the safety or preservation of the subject of the insurance from loss or destruction or financial damage or impairment Risk correct answers The chance or uncertainty of loss Pure Risk correct answers a risk in which there is no chance of gain, only loss Speculative risk correct answers a risk that may result in a loss or gain Hazard correct answers something that increases the chance of loss Moral Hazard correct answers hazard created by an individual who would be willing to create a loss situation on purpose just to collect from the insurance company Morale hazard correct answers hazard created by an individual's tendency to contribute to a loss through his own irresponsible actions or carelessness Physical Hazard correct answers hazard that arises from the condition, occupancy, or use of the property itself