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Fundamentals of Insurance - Practice Exam | 97 Questions And Verified Answers

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The major function of insurance is: a. To reduce the cost of the losses b. To share the losses of the few among the many c. The safeguard the interest of mortgages d. To serve as a basis of existing credit system b. To share the losses of the few among the many A peril if best defined as: a. The chance of a loss b. The occurrence of a loss c. The cause of a loss d. The result of a loss c. The cause of a loss Indemnify means: a. Returning the premium of the insured ...

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uploaded 2022

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