1. Define insurance.
2. Distinguish among the three types of hazards.
3. Why is the principle of indemnity so important to insurance sellers?
4. Identify four key points to review when reading an insurance policy.
5. Summarize how to use deductibles, coinsurance, hazard reduction, and loss reduction to lower the cost of insurance.
6. Differentiate among independent agents, exclusive agents, and direct sellers.