Property and Casualty Principles Review Test
questions with correct answers
A – protect the lender’s financial interest in the car in the event it is damaged or
destroyed CORRECT ANSWER In order to get a loan to buy a car, John had to
obtain insurance on the car. The purpose of the insurance requirement is to
A – protect the lender’s financial interest in the car in the event it is damaged or
destroyed
B – create an additional source of revenue for the lender
C – include the insurance company as a cosigner on the loan in case John defaults
on his payments
D – prove to the lender that John has a sense of responsibility toward his
obligations
B – Contributes to the nation’s economic well-being CORRECT ANSWER The
insurance industry employs millions of people and pays billions in tax revenue to
the federal and statement government. These are 2 examples of how the insurance
industry
A – helps prevent losses
B – Contributes to the nation’s economic well-being
C – Provides financial security for insureds<\/p>\n\n\n\n
D – Restores economic stability after catastrophic losses
A – pay the insurer for the insurance policy CORRECT ANSWER You ask an
insurance producer, “How much is the premium for this policy?” You are
interested in knowing how much you would
A – pay the insurer for the insurance policy
B – have to pay in additional charges to obtain an excluded coverage
C – Receive as a refund if you decide to cancel the policy if you no longer require
the coverage
D – collect for any loss you might sustain
D – accidental in nature CORRECT ANSWER George wants insurance to
indemnify himself for the gradual wearing out of the roof on his house. Which
answer choice below best completes the reason that such a loss would be difficult
to insure?
A – a risk to a sufficient number of people
B – calculable
C – catastrophic
D – accidental in nature<\/p>\n\n\n\n
B – Danny has no insurable interest in the United Nations building CORRECT Property and Casualty Principles Review Testquestions with correct answersA – protect the lender’s financial interest in the car in the event it is damaged ordestroyed CORRECT ANSWER In order to get a loan to buy a car, John had toobtain insurance on the car. The purpose of the insurance requirement is toA – protect the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-121390","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/121390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=121390"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/121390\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=121390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=121390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=121390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
ANSWER Danny decides that he would like to get a piece of the action by buying
part of an insurance policy covering the United Nations building in New York. He
figures that if the building burns, he would collect some money. Of course, this is
an impossible plan because
A – the principle of subrogation prevents the payment of money to those not
directly involved with the loss
B – Danny has no insurable interest in the United Nations building
C – insurance is primarily based on the theory of substituting certainty for
uncertainty
D – the United Nations building is 1 of the world’s truly fireproof buildings.
B – The insured should be restored financially to approximately the same position
she was in prior to the loss. CORRECT ANSWER The principle of indemnity is
expressed in which of the following sentences?
A – A loss must be large enough to create a financial burden for the insured in
order for it to be insurable
B – The insured should be restored financially to approximately the same position
she was in prior to the loss.
C – The insured should always receive less then the cost of a loss so he does not
profit from the loss.
download pdf at https:\/\/learnexams.com\/search\/study?query=aqa<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"