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Alabama Property and Casualty Sample Quiz 1-100
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Actual Complete Real Exam Questions And Correct
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What is a hazard? - Answer-an increase in the possibility
that a loss might occur
transfer risk from a person or business to an insurance
company that agrees to pay for losses in exchange for a
premium. - Answer-insurance
The type of insurance company in which the policyholder
is considered an owner, with the right to vote and share in
the profits is a - Answer-mutual company
Jewel Canford's home is insured by XYZ Insurance
Company. Last year she made the final mortgage payment
to FBN Mortgage Company. Jewel is considering selling
her home to her niece, Cynthia. Who has an insurable
interest in the home? - Answer-Jewel Canford
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The principle that states that an insured should be
restored to approximately the same financial position after
a loss as before is known as... - Answer-indemnity
Declarations - Answer-What part of an insurance policy
personalizes the policy as to who and what are insured?
An insurance policy is prepared by the insurance
company, with little or no input from the insured. This
means that an insurance policy is a/an... - Answer-
adhesion contract
An individual who owns and lives in a condominium can
obtain broad coverage for personal property in the condo
under which Homeowners form? - Answer-HO-6
What is the purpose of the Fair Credit Reporting Act? -
Answer-to give the consumer recourse if insurance is
denied on the basis of a credit report.
a fire that was caused by the insureds negligence burns a
neighbors building, the owner of the building sues the
insured. - Answer-Which of the following is a liability loss?
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What rating method involves modifying the premium
based on the insured's loss experience over a specified
period of time? - Answer-Experience rating
Most Flood insurance coverage is provided by - Answer-a
federal government program
Which of the following businesses could be eligible for a
Business owners policy?
a. Hometown Bank & Trust
b. Rest Easy Motel
c. Family Fun Time Amusement Park
d. Joe's Bar and Grill - Answer-Rest Easy Motel
Pain and Suffering - Answer-Which one of the following
types of benefits is generally not provided by a state's
workers compensation law?
foreign - Answer-Which of the following describes an
insurance company doing business in a state other than
the one where it is incorporated?
Alabama Property and Casualty Sample Quiz 1-100
Exam ||Verified Exam!!!|| Most Recent Exam 2026
Actual Complete Real Exam Questions And Correct
Answers (Verified Answers) Already Graded A+ |
Guaranteed Success!!!
What is a hazard? - Answer-an increase in the possibility
that a loss might occur
transfer risk from a person or business to an insurance
company that agrees to pay for losses in exchange for a
premium. - Answer-insurance
The type of insurance company in which the policyholder
is considered an owner, with the right to vote and share in
the profits is a - Answer-mutual company
Jewel Canford's home is insured by XYZ Insurance
Company. Last year she made the final mortgage payment
to FBN Mortgage Company. Jewel is considering selling
her home to her niece, Cynthia. Who has an insurable
interest in the home? - Answer-Jewel Canford
,2|Page
The principle that states that an insured should be
restored to approximately the same financial position after
a loss as before is known as... - Answer-indemnity
Declarations - Answer-What part of an insurance policy
personalizes the policy as to who and what are insured?
An insurance policy is prepared by the insurance
company, with little or no input from the insured. This
means that an insurance policy is a/an... - Answer-
adhesion contract
An individual who owns and lives in a condominium can
obtain broad coverage for personal property in the condo
under which Homeowners form? - Answer-HO-6
What is the purpose of the Fair Credit Reporting Act? -
Answer-to give the consumer recourse if insurance is
denied on the basis of a credit report.
a fire that was caused by the insureds negligence burns a
neighbors building, the owner of the building sues the
insured. - Answer-Which of the following is a liability loss?
, 3|Page
What rating method involves modifying the premium
based on the insured's loss experience over a specified
period of time? - Answer-Experience rating
Most Flood insurance coverage is provided by - Answer-a
federal government program
Which of the following businesses could be eligible for a
Business owners policy?
a. Hometown Bank & Trust
b. Rest Easy Motel
c. Family Fun Time Amusement Park
d. Joe's Bar and Grill - Answer-Rest Easy Motel
Pain and Suffering - Answer-Which one of the following
types of benefits is generally not provided by a state's
workers compensation law?
foreign - Answer-Which of the following describes an
insurance company doing business in a state other than
the one where it is incorporated?
