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Free Exam: Principle of Insurance

Number of Questions in Test: 15
Number of Questions in Preview: 5
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Question 1

This is not the loss itself, but the uncertainty that a loss might occur?

Type: Multiple choice
Points: 1
Randomize answers: No

Question 2

A contract or device for transferring risk from a person, business, or organization to an insurer who agrees, in exchange for a premium to pay for losses through an accumulation of premiums.

Type: Multiple choice
Points: 1
Randomize answers: No

Question 3

A contractual agreement in which one party assumes the liability for any losses and relieves another party of any responsibility.

Type: Multiple choice
Points: 1
Randomize answers: No

Question 4

Which of the following risk management techniques do you use when you purchase insurance?

Type: Multiple choice
Points: 1
Randomize answers: No

Question 5

A deductible is considered

Type: Multiple choice
Points: 1
Randomize answers: No

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