40. The Lovely Lady Boutique suffered damage to their store front caused by vandalism. The insurance company paid to have the damage repaired and the store front restored to its pre-incident state. The Lovely Lady Boutique is said to have

Question 40 options:

	Been indemnified for their loss
	Been negligent in maintaining their property
	Retained their exposure to loss
	Implemented a risk management program

Question 34 (1 point)

Installing sprinkler systems is an example of

Question 34 options:

	Loss reduction
	Loss prevention
	Loss transfer
	Loss assessment

Question 35 (1 point)

Due to a severe fire, Local Variety has been closed down and unable to operate for the past month. The amount of revenue lost during this time is an example of

Question 35 options:

	A direct loss
	A pure loss
	An indirect loss
	A speculative loss

Question 22 (1 point)

A fire causes considerable damage to a warehouse. The fire, as the event that caused the loss, is known as the

	Premium
	Physical hazard
	Peril
	Moral hazard

24. Which of the following processes involves an impartial third party that assesses the situation and makes recommendations for reaching an agreement?

	Boycott.
	Mediation.
	Strikes.
	Arbitration.