KY Property & Casualty Insurance
Correct Detailed Answers (100%
_____________Quiz____________?
Faulty wiring in a home is an example of a:
a) loss
b) peril
c) risk
d) hazard -
Answer✓✓
Hazard
_____________Quiz____________?
When a person buys insurance what method of handling risk has been undertaken?
a) transfer
b) reduction
c) avoidance
d) retention -
Answer✓✓
Transfer
_____________Quiz____________?
1
, In property and casualty insurance, insurable interest must exist:
a) at the time a change is made to a policy
b) at the time of policy application
c) at the time of loss
d) at the time of policy solicitation -
Answer✓✓
At the time of loss
_____________Quiz____________?
All of the following actions by a person could be described as a risk avoidance EXCEPT:
a) investing in the stock market
b) refusing to scuba dive
c) never flying in an airplane
d) taking a flu shot each year -
Answer✓✓
Investing in the stock market
_____________Quiz____________?
Which of the following insurance options would be considered a risk-sharing arrangement ?
a) stock
b) mutual
c) surplus lines
d) reciprocal -
Answer✓✓
Reciprocal
_____________Quiz____________?
Illegal use of narcotics would be an example of:
a) pure hazard
2
Correct Detailed Answers (100%
_____________Quiz____________?
Faulty wiring in a home is an example of a:
a) loss
b) peril
c) risk
d) hazard -
Answer✓✓
Hazard
_____________Quiz____________?
When a person buys insurance what method of handling risk has been undertaken?
a) transfer
b) reduction
c) avoidance
d) retention -
Answer✓✓
Transfer
_____________Quiz____________?
1
, In property and casualty insurance, insurable interest must exist:
a) at the time a change is made to a policy
b) at the time of policy application
c) at the time of loss
d) at the time of policy solicitation -
Answer✓✓
At the time of loss
_____________Quiz____________?
All of the following actions by a person could be described as a risk avoidance EXCEPT:
a) investing in the stock market
b) refusing to scuba dive
c) never flying in an airplane
d) taking a flu shot each year -
Answer✓✓
Investing in the stock market
_____________Quiz____________?
Which of the following insurance options would be considered a risk-sharing arrangement ?
a) stock
b) mutual
c) surplus lines
d) reciprocal -
Answer✓✓
Reciprocal
_____________Quiz____________?
Illegal use of narcotics would be an example of:
a) pure hazard
2
