1. Methods of risk management include:

A. Transfer

B. Sharing

C. Avoidance

D. All of the above. - correct answer D. All of the above.



2. An insured has suffered a fire loss to his/her dwelling. This insured is which party to the claim?

A. Third party

B. First party

C. Second party

D. Loss payee - correct answer B. First party



3. Mr. Jones, a pedestrian, was injured by Mr. Smith while driving his vehicle. Mr. Smith is insured by I Am Bogus Insurance Company. The insurance company ...
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