Eliminating property Study guides, Class notes & Summaries

Insurance a contract in which one party (the insurance company) agrees to "make whole" the insured party against loss, damage or liability arising from an unlikely event In ___________ insurance, the policy protects survivors from losses suffered after the insured's death Life Insurance __________ the risk of loss from an individual or business to an insurance company Transfers Risk the uncertainty or chance of a loss occurring Pure Risk situations that can only result in a loss or no ...

Michigan Life and Health Examination (2024/2025) (Certified Solutions) Risk The uncertainty or chance of a loss occurring. The two types are pure and speculative. Pure Risk Refers to a situation that can only result in a loss or no change. There is no opportunity for financial gain. Speculative Risk Involves the opportunity for either loss or gain. Hazards Conditions or situations that increase the probability of an insured loss occurring. Hazards and classified as physical hazard...

Property and Casualty Insurance Practice Test Exam Questions & Revised Correct Answers. Guarantee Pass!! A self-insurer deals with risk by: -Transferring the risk -Avoiding the risk -Retaining the risk -Eliminating the risk - ANSWER : Retaining the risk A property and casualty agent must complete how many hours of CE? -12 hours each year -12 hours every 2 years by their due date -complete the approved courses as specified by the law every year -Complete the requirements for CLU...

1978 - Answer- When did they reduce to Lead Levels in consumer products The underside of a horizontal surface which projects beyond a wall line, such as an overhanging roof. - Answer- What is a soffit? False - Answer- T/F: The risk assessor should be involved in the process of selecting a contractor. 1. There are big cracks in the walls. 2. Ceiling is leaking in the bathroom and the kitchen. 3. The window wells are in disrepair- and contain paint chips. 4. Right across the street the...

Key questions in determining insurable interest - Answer- 1. What is insurable interest 2. When must insurable interest exist 3. Why require insurable interest 4. What is the legal basis of insurable interest 5. What happens when insurable interest overlap Problems associated with maintain insurance to value - Answer- 1. The amount of insurance required to maintain insurance to value is based on the property's value at the time of loss, but the limit is chosen at the time of policy incep...

1. What is the system operating in most states that removes juvenile status offenders and delinquents from the jurisdiction of the courts when possible? a. b. c. d. ANSWER: POINTS: REFERENCES: QUESTION TYPE: HAS VARIABLES: LEARNING OBJECTIVES: KEYWORDS: DATE CREATED: DATE MODIFIED: Plea Bargaining Charge Bargaining Diversion Parole 2. What city, in 1985, hosted its first citizen police academy? a. b. c. d. ANSWER: POINTS: REFERENCES: QUESTION TYPE: HAS VARIABLES: LEARNING OBJECTIVE...

EM1 Exam Questions and Answers 100% Pass Which agency became the "face of emergency management" in the 1950's? United States Civil Defense The National Flood Insurance Act of 1968 lead to the creation of what program? National Flood Insurance Program Under the Disaster Relief Act of 1974, which Federal agency had the greatest authority? Department of Housing Which act created the United States Department of Homeland Security and is still described as the greatest federal re...

risk correct answers the possibility that a loss may occur speculative risk correct answers possibility of loss, possibility of gain (gambling) pure risk correct answers only involving loss, not gain (car accident) exposure correct answers the possibility that loss will occur (house fire) loss correct answers the unforeseen, unintended damage to property, injury, amount paid hazard correct answers anything that increases the chances of a loss occurring moral hazard correct answ...

agent - legal representative of an insurance company; the classification of producer usually includes agents and brokers; agents are the agents of the insurer insured - the person covered by the insurance policy; this person may or may not be the policyowner broker - an insurance agent not appointed by an insurer and is deemed to represent the client insurance policy - a contract between a policyowner (and/or insured) and an insurance company which agrees to pay the insured or the benef...

MNO2603 Assignment 3 - DUE 17 April 2024 ;100 % TRUSTED workings, explanations and solutions. For assistance call or W.h.a.t.s.a.p.p us on ...(.+.2.5.4.7.7.9.5.4.0.1.3.2)........... Question 1 Correct Mark 1.00 out of 1.00 Flag question Question text ____________ interlocks are designed to prevent catastrophes that could result in injury, loss of life and property damage. a. Process b. Safety c. Intrinsic d. Closed loop Feedback The correct answer is: Safety Que...