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KY Property & Casualty Insurance Exam Questions and Answers (Latest Update 2024)
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KY Property & Casualty Insurance Exam Questions and Answers (Latest Update 2024)
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KY Property & Casualty Insurance Exam 2024 with 100% correct answers
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Faulty wiring in a home is an example of a: 
a) loss 
b) peril 
c) risk 
d) hazard - correct answer Hazard 
 
When a person buys insurance what method of handling risk has been undertaken? 
a) transfer 
b) reduction 
c) avoidance 
d) retention - correct answer Transfer 
 
In property and casualty insurance, insurable interest must exist: 
a) at the time a change is made to a policy 
b) at the time of policy application 
c) at the time of loss 
d) at the time of policy solicitation - correct...
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KY Property & Casualty Insurance Exam Questions And Correct Answers | Updated
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KY Property & Casualty Insurance 
Exam Questions And Correct 
Answers | Updated 
Faulty wiring in a home is an example of a: 
a) loss 
b) peril 
c) risk 
d) hazard - ANSWER : Hazard 
When a person buys insurance what method of handling risk has 
been undertaken? 
a) transfer 
b) reduction 
c) avoidance 
d) retention - ANSWER : Transfer 
In property and casualty insurance, insurable interest must exist: 
a) at the time a change is made to a policy 
b) at the time of policy application 
c) at t...
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KY Property & Casualty Insurance Exam with Standard Questions and Validated Solutions-Score 98%
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KY Property & Casualty Insurance Exam with Standard Questions and Validated Solutions-Score 98% 
 
Risk ANSWER Chance or uncertainty of loss 
 
Managing Risk ANSWER STARR: Share, Transfer, Avoid, Reduce, Retain 
 
Purpose of Insurance ANSWER Transfer risk and responsibility in exchange for payment of a premium 
 
Law of Large Numbers ANSWER The more examples used to develop any statistic, the more reliable that statistic will be. 
 
Elements of Insurability ANSWER Insurable interest, definite ri...
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KY Property and Casualty Insurance Pre-Licensing Exam with Questions and Answers
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KY Property and Casualty Insurance Pre-Licensing Exam with Questions and Answers 
 
In which of the following would you have an insurable interest? ANSWER a car in which you are still paying on, a home yiu have rented to a tenant 
 
Transferring risk ANSWER Insurance is a means of 
 
An Inusrable Risk ANSWER Hail damage to a car 
 
Peril ANSWER the cause of loss EXAMPLE Fire, flood, volcanoe. 
 
Morale Hazard ANSWER Arises Through an individuals carelessness or irresponsible actions. EXAMPLE, le...
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KY Property & Casualty Insurance Exam (New 2024/2025 Update) with Latest Questions and Expert Answers
- Exam (elaborations) • 57 pages • 2024
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KY Property & Casualty Insurance Exam (New 2024/2025 Update) with Latest Questions and Expert Answers 
 
Which of the following insurance principles is designed to keep you from profiting by insuring and then destroying OTHER PEOPLE's property? (Pg. 5) 
A) Indemnification 
B) Subrogation 
C) Co-insurance 
D) Insurable Interest ANSWER Insurable interest 
 
All of the following are types of hazards EXCEPT (Pg. 8) 
A) Morale 
B) Moral 
C) Risk 
D) Physical ANSWER Risk 
 
Insurance Services Office ...
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KY Property & Casualty Insurance Exam Questions and Answers 2024
- Exam (elaborations) • 9 pages • 2024
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KY Property & Casualty Insurance Exam Questions and Answers 2024
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KY Property & Casualty Insurance Exam with 100% Correct Answers | Verified | Latest Update 2024| Already Passed
- Exam (elaborations) • 17 pages • 2024
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KY Property & Casualty Insurance Exam with 100% 
Correct Answers | Verified | Latest Update 2024| 
Already Passed
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KY Property & Casualty Insurance Exam | with complete solution | Rated A+ | 2024/25.
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KY Property & Casualty Insurance Exam | with complete solution | Rated A+ | 2024/25.
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Kentucky Life & Health Insurance Bundled Exams Questions and Answers Multiple Versions (2024/2025) (Complete and Accurate)
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Kentucky Life & Health Insurance Bundled Exams Questions and Answers Multiple Versions (2024/2025) (Complete and Accurate)
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KY Property & Casualty Insurance Exam Already Passed
- Exam (elaborations) • 16 pages • 2024
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KY Property & Casualty Insurance Exam Already Passed 
Faulty wiring in a home is an example of a: 
a) loss 
b) peril 
c) risk d) hazard Hazard 
When a person buys insurance what method of handling risk has been undertaken? 
a) transfer 
b) reduction 
c) avoidance d) retention Transfer 
In property and casualty insurance, insurable interest must exist: 
a) at the time a change is made to a policy 
b) at the time of policy application 
c) at the time of loss 
d) at the time of policy solicitation ...
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