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| Section | Objectives |
|---|---|
| Legal Principles of Insurance | - Insurable Interest and Indemnity
|
| Insurance Principles | - Fundamentals of Insurance
|
| Insurance Practice | - Underwriting and Pricing
|
A person applies for fire insurance on their house but fails to mention that in winter they leave the house unoccupied for two months while vacationing. What is this an example of?
Correct Answer: A 🗳️
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An insurer's agency or production department is the equivalent of which department in other businesses?
Correct Answer: A 🗳️
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Jack owns a convenience store. During a severe hurricane, he places sandbags in front of his store and boards up the windows. Which technique of loss control is Jack utilizing?
Correct Answer: A 🗳️
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John convinces Louise to sign a contract for room and board at his house in Montreal in exchange for $1,000.
When Louise prepares to move in, John informs her that she will be staying in a room at a run-down hotel he owns. Which cause of nullity is Louise MOST LIKELY to employ to cause the contract to be of no effect?
Correct Answer: C 🗳️
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How would a moving and storage company benefit from purchasing insurance to cover customers' goods while in transit?
Correct Answer: B 🗳️
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Advanced Skills for the Insurance Broker and Agent
Essential Skills for the Insurance Broker and Agent
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