Which of these are considered to be events or conditions that increase the chances of an insured's loss?

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Which of these are considered to be events or conditions that increase the chances of an insured's loss?

a) Risks
b) Hazards
c) Indemnity
d) Perils

Answer: b) Hazards

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

Jim has been arrested for drunk driving. In order to be allowed out of jail before his court date, Jim will most likely need:

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James is the insured on a life insurance policy where his age was misstated on the application. Which of the following is CORRECT regarding the death benefit amount?

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The voluntary relinquishment of a legal right is called
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The authority granted to a licensed producer is provided via the
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