M 1 2 4 5 6 7 8 9 10 L Moving to another question will save this response. Question 25 The primary purpose of coinsurance in property insurance is to O reduce moral hazard O achieve equity in rating. O minimize problems in settling claims. O eliminate small losses. Moving to another question will save this response. X 4- F4 4 11 12 13 5 F6 % 14 15 MP F7 6 16 17 18 FB 19 7 20 21 22 8 23 Esc Remaining Time: 1 hour, 43 minutes, 49 seconds. A Question Completion Status: 1 2 5 6 7 9 Moving to another question will save this response. The price per unit of insurance is called the O premium O loss adjustment expense. Orate. O loss reserve. Moving to another question will save this response. L Question 20 Lenovo FO 7 XZ 11 10 11 *- F5 $ 12 13 14 1-% 15 16 17 18 19 20 2 21 un time has expired. The timer will continue to run if you leave the test Your answers are saved automatically. Remaining Time: 1 hour, 43 minutes, 56 seconds. A Question Completion Status: 1 6 7 9 10 11 12 13 14 15 16 17 18 19 20 21 22 24 25 Moving to another question will save this response. Question 19 That part of a property and liability insurance contract that contains information about the property or activity to be insured is called the O declarations O insuring agreement. O exclusions O conditions Moving to another question will save this response. 13 P 2 3 4 10 5 *+ PP 6 * 9 26 Remaining Time: 1 hour, 44 minutes, 15 seconds. Question Completion Status: 1 2 5 6 7 8 10 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 288 & Moving to another question will save this response. Question 15 Which of the following statements about claims settlement is true? O Agents are never authorized to settle claims. O Independent adjustors may be used in a geographic area where the volume of business is too low for an insurer to have its own adjustors. O Apublic adjustor is a salaried employee who works for one insurer OA staff claims representative is hired by a policyholder to represent him or her if the policyholder does not agree with the claim settlement offered by the insurer Moving to another question will save this response. Home ge pr FO F10 912 3 0x E S RJ 5 11 *+ % S T 6 (P 7 Y & & U P 5 6 8 9 10 11 12 13 Moving to another question will save this response. Question 14 Which of the following statements about "all risk" coverage is (are) true? 1. All losses are covered except those losses specifically excluded II. The burden of proof is on the insured to prove that a loss is covered. O I only O II only Both I and II Neither I nor II A Moving to another question will save this response. 14 15 16 17 18 19 L Question 2 7 8 10 Moving to another question will save this response. Which of the following two statements is true? 1. A company prefers having a low loss ratio II. A company prefers having a high overall operating ratio OI only Oll only Both I and II O Neither I nor II A Moving to another question will save this response. b 11 12 13 14 15 16 17 18 19 A Question Completion Status: 5 6 7 8 9 12 13 14 15 16 17 18 19 20 21 Moving to another question will save this response. Question 1 ARJAM Insurance Company has an overall operating ratio of 1.2, based on this which of the following statements is true? O ARJAM is profitable O The market has an overall operating ratio is 0.9, this means ARJAM is better than the market. O It's closest competitor has an overall operating ratio of 1.9, this means ARJAM is worse than this competitor. O None of the above are true. Moving to another question will save this response. F7 & 10 11 FO % 22 23 24
