General Insurance Essentials - C81 + C82 EXAM
(updated 2026) Questions & Answers | Latest
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Terms in this set (304)
What is a hazard? A condition that may cause a loss to be more
severe
What is a peril? An event that may give rise to a loss
What is the immediate and effective Proximate cause
action in a chain of circumstances
that leads naturally and directly to
the loss?
What is the proximate cause of a The immediate and effective cause of the loss or
loss? damage
What cause of loss would be Proximate cause
insured?
Which type of risk can be insured? Pure risk
A firm's decision to change insurers The firm's senior management
or brokers or accept policy renewal
costs usually requires approval by
which of the following?
, All costs associated with managing Cost of risk
pure risk are known as which of the
following?
Members of an organization are Human assets
subject to the possibility of illness,
disability, or premature death. What
category is this subject of loss?
What is a consequence of not using A major loss may not be covered
a risk management approach to
setting up insurance for a client?
What is a simple definition of The difference between revenues and expenses—
earnings? the profits (net income) of a business
What method allows a broker to Risk Management
identify and analyze the risks an
organization faces?
What is a risk management Avoidance
technique whereby the risk of loss
is prevented by not engaging in
activities that present the risk?
What is both a pre-loss and a post- Social Responsibility
loss objective of risk management?
What is the duty of a risk manager? Identifying loss exposures
(updated 2026) Questions & Answers | Latest
Already Graded A+
Save
Terms in this set (304)
What is a hazard? A condition that may cause a loss to be more
severe
What is a peril? An event that may give rise to a loss
What is the immediate and effective Proximate cause
action in a chain of circumstances
that leads naturally and directly to
the loss?
What is the proximate cause of a The immediate and effective cause of the loss or
loss? damage
What cause of loss would be Proximate cause
insured?
Which type of risk can be insured? Pure risk
A firm's decision to change insurers The firm's senior management
or brokers or accept policy renewal
costs usually requires approval by
which of the following?
, All costs associated with managing Cost of risk
pure risk are known as which of the
following?
Members of an organization are Human assets
subject to the possibility of illness,
disability, or premature death. What
category is this subject of loss?
What is a consequence of not using A major loss may not be covered
a risk management approach to
setting up insurance for a client?
What is a simple definition of The difference between revenues and expenses—
earnings? the profits (net income) of a business
What method allows a broker to Risk Management
identify and analyze the risks an
organization faces?
What is a risk management Avoidance
technique whereby the risk of loss
is prevented by not engaging in
activities that present the risk?
What is both a pre-loss and a post- Social Responsibility
loss objective of risk management?
What is the duty of a risk manager? Identifying loss exposures
