Tennessee Property and Casualty EXAM,
QUESTIONS WITH ACCURATE ANSWERS |
MULTIPLE CHOICES |2025!!
Save
Terms in this set (116)
An individual applied for The insured (customer)
auto insurance and
obtained coverage from
ABC Insurance Company.
Who is the first party in
the contract?
A. The insured
B. The insurer
C. The agent
D. The insured and agent
If a fire causes damge to a A peril
building the fire is
A. a hazard
B. a peril
C. a risk
D. an exposure
,Wearing a seatbelt in a car Reduce
is an example if which
method of managing risk?
A. Retain
B. Avoid
C. Reduce
D. Transfer
Tiff leaves her car Morale
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?
A. Physical
B. Morale
C. Carless
D. Moral
A flood is an example of Peril
A. a peril
B. a moral hazard
C. a speculative risk
D. a physical hazard
,An insurance company Foreign
incorporated in Wisconsin
and conducting business
in Wisconsin is known as a
domestic company. What
kind of company are they
considered if they do
business in Minnesota
A. Alien
B. Domestic
C. Foreign
D. Nonadmitted
All of the following stock company is a participating company
statements about a stock
company are true except:
A. stock company pays
dividends to stockholders
B. stock company is a
participating company
C. stock company is a
nonparticipating company
D. stock company has
shareholders
, What do insurance The law of large numbers
companies use to help
predict how many losses
will occur in a group or
class of individuals?
A. The law of large
numbers
B. Standard and Poor's
Insurance Rating Service
C. Risk retention group
D. Adverse selection
State requires companies a certificate of authority
to have a license to sell
insurance in the state. The
license is called:
A. a certificate of authority
B. a reinsurance license
C. a producer's license
D. an admittance license
All of the following are the risk must be catastrophic for the insurance
requirements of an company
insurable pure risk
EXCEPT:
A. premium must be
calculable
B. premium must be
affordable
C. teh risk must be
catastrophic for the
insurance company
D. the loss must have been
accidental
QUESTIONS WITH ACCURATE ANSWERS |
MULTIPLE CHOICES |2025!!
Save
Terms in this set (116)
An individual applied for The insured (customer)
auto insurance and
obtained coverage from
ABC Insurance Company.
Who is the first party in
the contract?
A. The insured
B. The insurer
C. The agent
D. The insured and agent
If a fire causes damge to a A peril
building the fire is
A. a hazard
B. a peril
C. a risk
D. an exposure
,Wearing a seatbelt in a car Reduce
is an example if which
method of managing risk?
A. Retain
B. Avoid
C. Reduce
D. Transfer
Tiff leaves her car Morale
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?
A. Physical
B. Morale
C. Carless
D. Moral
A flood is an example of Peril
A. a peril
B. a moral hazard
C. a speculative risk
D. a physical hazard
,An insurance company Foreign
incorporated in Wisconsin
and conducting business
in Wisconsin is known as a
domestic company. What
kind of company are they
considered if they do
business in Minnesota
A. Alien
B. Domestic
C. Foreign
D. Nonadmitted
All of the following stock company is a participating company
statements about a stock
company are true except:
A. stock company pays
dividends to stockholders
B. stock company is a
participating company
C. stock company is a
nonparticipating company
D. stock company has
shareholders
, What do insurance The law of large numbers
companies use to help
predict how many losses
will occur in a group or
class of individuals?
A. The law of large
numbers
B. Standard and Poor's
Insurance Rating Service
C. Risk retention group
D. Adverse selection
State requires companies a certificate of authority
to have a license to sell
insurance in the state. The
license is called:
A. a certificate of authority
B. a reinsurance license
C. a producer's license
D. an admittance license
All of the following are the risk must be catastrophic for the insurance
requirements of an company
insurable pure risk
EXCEPT:
A. premium must be
calculable
B. premium must be
affordable
C. teh risk must be
catastrophic for the
insurance company
D. the loss must have been
accidental
