Mackmarkersmoris
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INSURANCE
GOOD LUCK
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- • 4 items •
- Florida Insurance Exam 100% questions and correct answers • Tentamen (uitwerkingen)
- Florida Insurance Exam questions and answers 2024 • Tentamen (uitwerkingen)
- Fundamental of Insurance & Risk exam questions and answers 2024 • Tentamen (uitwerkingen)
- Fundamentals of Insurance (BC) - Self-Examination Chapter Questions and correct answers • Tentamen (uitwerkingen)
Fundamentals of Insurance (BC) - Self-Examination Chapter Questions and correct answers
What is the major function of insurance? - ANSWERS To allow the spread of risk. 
Define "Spread of Risk" - ANSWERS "The losses of the few are shared among the 
many" 
What are the 4 other functions of insurance? - ANSWERS 1. Basis of Credit System 
2. Eliminates worry - Encourages Entrepreneurship 
3. Loss Prevention and Loss Reduction 
4. Source of Employment and Investment Capital 
What are the 3 types of property and casuality (general) insurance? - ANSWERS 1. 
Automobile 
2. Property 
...
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INSURANCE • Door  mackmarkersmoris
Fundamental of Insurance & Risk exam questions and answers 2024
Which of the following types of families is likely to have the least need for a large 
amount of life insurance? 
A) blended family 
B) traditional family 
C) single person family 
D) sandwich family - ANSWERS c 
The human life value is defined as the 
A) present value of a deceased breadwinner's future gross income. 
B) future value of a deceased breadwinner's past earnings. 
C) present value of the family's share of a deceased breadwinner's future earnings. 
D) future value of the family...
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INSURANCE • Door  mackmarkersmoris
Florida Insurance Exam questions and answers 2024
The clause identifying which losses resulting from an accident or sickness are insured 
by the policy is called the: - ANSWERS Insuring clause 
K applies for a life insurance policy on herself and submits the initial premium with the 
application. She is given a receipt by the agent stating that coverage begins 
immediately if the application is approved. What kind of receipt was used? - ANSWERS 
Conditional 
A life insurance arrangement which circumvents insurable interest statutes is calle...
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INSURANCE • Door  mackmarkersmoris
Florida Insurance Exam 100% questions and correct answers
Risk - ANSWERS the chance of financial loss 
Risk is NOT the loss itself, but the _________ of loss. - ANSWERS CHANCE 
Policy - ANSWERS a written contract for effecting insurance and includes Clauses, 
Riders, endorsements, and papers which are part of the contract 
Insurance - ANSWERS a contract where one undertakes to indemnify another or pay a 
specific amount determined on contingencies 
Binders - ANSWERS temporary insurance which can be made orally or written 
property insurance - ANSWERS...
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INSURANCE • Door  mackmarkersmoris