General Insurance

Question 1

Relationship between Risk and Premium

Answer 1

Direct correlation between risk and premium. The tester the risk, the greater the premium.

Question 2

What does Personal Lines include?

Answer 2

Homeowners
Personal auto
Other things owned by individuals

Question 3

What is included in commercial lines?

Answer 3

Commercial auto
Property and liabilities
Commercial crime

Question 4

Methods of handling risk

Answer 4

Avoidance
Retention
Transfer
Reduction
Sharing

Question 5

Elements of insurable risks

Answer 5

1) accidental
2) measurable
3) predictable
4) one unit in a large enough pool of units that the law of large numbers allows for prediction of loss
5) not be catastrophic in nature
6) generate a reasonable and affordable rate

Question 6

Parties of reinsurance

Answer 6

Reinsurer- selling to ceding insurer

Ceding insurer - sells primary policies to individuals or companies

Question 7

Types of reinsurance contracts

Answer 7

1) facultative insurance

2) treaty resinruance

Question 8

Name the three standard fire perils

Answer 8

1) fire
2) lightning
3) debris removal

Question 9

Name the three standard fire perils

Answer 9

1) fire
2) lightning
3) debris removal

Question 10

Name the three standard fire perils

Answer 10

1) fire
2) lightning
3) debris removal

Question 11

Name the three standard fire perils

Answer 11

1) fire
2) lightning
3) debris removal

Question 12

Name the three standard fire perils

Answer 12

1) fire
2) lightning
3) debris removal

Question 13

Name the three standard fire perils

Answer 13

1) fire
2) lightning
3) debris removal

Question 14

Name the three standard fire perils

Answer 14

1) fire
2) lightning
3) debris removal

Question 15

Name the three standard fire perils

Answer 15

1) fire
2) lightning
3) debris removal

Question 16

Name the three standard fire perils

Answer 16

1) fire
2) lightning
3) debris removal

Question 17

Name the three standard fire perils

Answer 17

1) fire
2) lightning
3) debris removal

Question 18

Name the three standard fire perils

Answer 18

1) fire
2) lightning
3) debris removal

Question 19

Name the three standard fire perils

Answer 19

1) fire
2) lightning
3) debris removal

Question 20

Name the three standard fire perils

Answer 20

1) fire
2) lightning
3) debris removal

Question 21

Name the three standard fire perils

Answer 21

1) fire
2) lightning
3) debris removal

Question 22

Name the three standard fire perils

Answer 22

1) fire
2) lightning
3) debris removal

Question 23

Name the three standard fire perils

Answer 23

1) fire
2) lightning
3) debris removal

Question 24

Name the three standard fire perils

Answer 24

1) fire
2) lightning
3) debris removal

Question 25

Name the three standard fire perils

Answer 25

1) fire 2) lightning 3) debris removal

Question 26

Name the three standard fire perils

Answer 26

1) fire 2) lightning 3) debris removal

Question 27

Name the three standard fire perils

Answer 27

1) fire 2) lightning 3) debris removal

Question 28

Name the three standard fire perils

Answer 28

1) fire 2) lightning 3) debris removal

Question 29

Name the three standard fire perils

Answer 29

1) fire 2) lightning 3) debris removal

Question 30

Name the three standard fire perils

Answer 30

1) fire 2) lightning 3) debris removal

Question 31

Name the three standard fire perils

Answer 31

1) fire 2) lightning 3) debris removal

Question 32

Name the three standard fire perils

Answer 32

1) fire 2) lightning 3) debris removal

Question 33

Name the three standard fire perils

Answer 33

1) fire 2) lightning 3) debris removal

Question 34

Name the three standard fire perils

Answer 34

1) fire 2) lightning 3) debris removal

Question 35

Name the three standard fire perils

Answer 35

1) fire 2) lightning 3) debris removal

Question 36

Name the three standard fire perils

Answer 36

1) fire 2) lightning 3) debris removal

Question 37

Name the three standard fire perils

Answer 37

1) fire 2) lightning 3) debris removal

Question 38

Name the three standard fire perils

Answer 38

1) fire 2) lightning 3) debris removal

Question 39

Name the three standard fire perils

Answer 39

1) fire 2) lightning 3) debris removal

Question 40

Name the three standard fire perils

Answer 40

1) fire 2) lightning 3) debris removal

Question 41

Name the three standard fire perils

Answer 41

1) fire 2) lightning 3) debris removal

Question 42

Name the three standard fire perils

Answer 42

1) fire 2) lightning 3) debris removal

Question 43

Name the three standard fire perils

Answer 43

1) fire 2) lightning 3) debris removal

Question 44

Name the three standard fire perils

Answer 44

1) fire 2) lightning 3) debris removal

Question 45

Name the three standard fire perils

Answer 45

1) fire 2) lightning 3) debris removal

Question 46

Name the three standard fire perils

Answer 46

1) fire 2) lightning 3) debris removal

Question 47

Name the three standard fire perils

Answer 47

1) fire 2) lightning 3) debris removal

Question 48

Name the three standard fire perils

Answer 48

1) fire 2) lightning 3) debris removal

Question 49

Name the three standard fire perils

Answer 49

1) fire 2) lightning 3) debris removal

Question 50

Name the three standard fire perils

Answer 50

1) fire 2) lightning 3) debris removal

Question 51

Name the three standard fire perils

Answer 51

1) fire 2) lightning 3) debris removal

Question 52

Name the three standard fire perils

Answer 52

1) fire 2) lightning 3) debris removal

Question 53

Name the three standard fire perils

Answer 53

1) fire 2) lightning 3) debris removal

Question 54

Name the three standard fire perils

Answer 54

1) fire 2) lightning 3) debris removal

Question 55

Name the three standard fire perils

Answer 55

1) fire 2) lightning 3) debris removal

Question 56

Name the three standard fire perils

Answer 56

1) fire 2) lightning 3) debris removal

Question 57

Name the three standard fire perils

Answer 57

1) fire 2) lightning 3) debris removal

Question 58

Name the three standard fire perils

Answer 58

1) fire 2) lightning 3) debris removal

Question 59

Name the three standard fire perils

Answer 59

1) fire 2) lightning 3) debris removal

Question 60

Name the three standard fire perils

Answer 60

1) fire 2) lightning 3) debris removal

Question 61

Name the three standard fire perils

Answer 61

1) fire 2) lightning 3) debris removal

Question 62

Name the three standard fire perils

Answer 62

1) fire 2) lightning 3) debris removal

Question 63

Name the three standard fire perils

Answer 63

1) fire 2) lightning 3) debris removal

Question 64

Name the three standard fire perils

Answer 64

1) fire 2) lightning 3) debris removal

Question 65

Name the three standard fire perils

Answer 65

1) fire 2) lightning 3) debris removal

Question 66

Name the three standard fire perils

Answer 66

1) fire 2) lightning 3) debris removal

Question 67

Name the three standard fire perils

Answer 67

1) fire 2) lightning 3) debris removal