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Question 1 of 32
1. Question
Insurance is mostly concerned with
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Question 2 of 32
2. Question
One feature that an insurance contract does not share with other types of contracts is
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Question 3 of 32
3. Question
Which of the following statements is FALSE?
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Question 4 of 32
4. Question
Co-insurance clauses can seriously affect loss settlement. They may:
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Question 5 of 32
5. Question
Silence where there is an obligation to speak is known as
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Question 6 of 32
6. Question
The Standard Mortgage Clause outlines:
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Question 7 of 32
7. Question
Who is the first party of an insurance contract?
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Question 8 of 32
8. Question
The price of a unit of insurance for a period of one year is called the
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Question 9 of 32
9. Question
What forms the basis of most insurance contracts?
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Question 10 of 32
10. Question
If the Insured wishes to cancel the policy the cancellation takes effect:
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Question 11 of 32
11. Question
Fortuitous means
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Question 12 of 32
12. Question
The legal process by which an insurer, who has paid a loss, pursues any rights of recovery against a responsible third party is called
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Question 13 of 32
13. Question
Of the following who has legal capacity?
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Question 14 of 32
14. Question
A material fact is
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Question 15 of 32
15. Question
Which of the following does not have an Insurable Interest?
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Question 16 of 32
16. Question
When someone is placed back in the same financial position that they were in just prior to a loss, that is
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Question 17 of 32
17. Question
Which of the following is considered a legal person?
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Question 18 of 32
18. Question
Persons who stand in such a legal relationship to property that they may be financially prejudiced by its loss and financially benefit from its continued existence are said to have
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Question 19 of 32
19. Question
Persons who stand in such a legal relationship to property that they may be financially prejudices by its loss and financially benefit from its continued existence are said to have
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Question 20 of 32
20. Question
Which of the following parties would be considered to have an insurable interest?
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Question 21 of 32
21. Question
Pure premium is the
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Question 22 of 32
22. Question
Which of the following is not one of the 8 application questions
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Question 23 of 32
23. Question
An express contract is one which
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Question 24 of 32
24. Question
The special class of a loss payee that has a registered interest on real property is known as
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Question 25 of 32
25. Question
An implied contract is one which
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Question 26 of 32
26. Question
This is the process of establishing rates for each class of insurance
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Question 27 of 32
27. Question
The likelihood of a risk resulting in a loss is referred to as
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Question 28 of 32
28. Question
Which of the following is essential for a contract to be valid and enforceable?
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Question 29 of 32
29. Question
An additional charge included in an insurance rate to reflect a hazard not contemplated in the basic rate for this class
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Question 30 of 32
30. Question
Under the rules of offer and acceptance
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Question 31 of 32
31. Question
The amount of liability the primary insurer retains is known as
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Question 32 of 32
32. Question
Contribution
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