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FUNDAMENTALS OF INSURANCE BC EXAM 100% QUESTIONS AND ANSWERS
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18
May 2024
2023/2024
A+
RISK - ANSWERS IS THE CHANCE OF FINANCIAL LOSS
PERIL - ANSWERS IS THE CAISE OF FINANCIAL LOSS FOR EXAMPLE- FIRE
WATER AND EARTHQUAKE
WHAT IS THE MAIN PURPOSE OF INSURANCE - ANSWERS IS TO ALLOW THE
SPREAD OF RISK
INDEMNITY - ANSWERS MEANS RESTORING THE INSUREDS TO THE SAM
FINANCIAL POSITION AS THEY WERE IN IMMEDIATELY PRIOR TO THE LOSS.
WHOSE OPTION IS TO OF HOW THEY WANT TO SETTLE A CLAIM? - ANSWERS
THE INSURER
INSURANCE INDEMNIFIES - ANSWERS FUTURE AND ACCIDENTAL LOSSES
ONLY, NOT...
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