Oklahoma Adjuster Exam 2 Questions and Answers 100% Correct(SCORED A+)

An individual applied for auto insurance and obtained coverage from EMU Insurance Company. Who is the first party in the contract? - ANSWER-The Insured If a fire hazard causes damage to a building, the fire is? - ANSWER-A peril wearing a seatbelt in a car is an example of which method or managing risk? - ANSWER-Reduce Tiffany leaves her car unlocked when she goes shopping. She figures her car and its contents are insured, so there is no reason to worry. Which type of hazard is this an example of? - ANSWER-Morale A flood is an example of - ANSWER-A peril An insurance company incorporated in Oklahoma and conducting business in Oklahoma is known as a domestic company. What kind of company are they considered if they do business in Minnesota? - ANSWER-Foreign Which of the following is true about stock companies - ANSWER-a stock company pays dividends What do insurance companies use to help predict how many losses will occur in a group or class of individuals - ANSWER-The law of large numbers