Question: 46. Subrogation means ________________________________ A. Something of monetary value B. To make good on a loss C. Payment of premium D. Transfer of rights of
46. Subrogation means ________________________________ A. Something of monetary value B. To make good on a loss C. Payment of premium D. Transfer of rights of an insured to another person
50. The Duty to minimize loss is incorporated in the policies through ____________. A. Warranties B. Conditions C. ClausesSubmitted by: Matthew Smith-Barrett, Error! Reference source not found. 10 D. Declaratives / Declaration
52. Which of the following risks are insurable? A. Speculative Risks B. Economic C. Sure to happen D. Other risks
53. The premium actually paid by the policy holder depends upon ____________. A. The wealth of the person to be insured B. The level of risk assessed by the insurer C. The tables of rates printed by the insurer. D. Agents report
56. Changes in technology is an example of _______________. A. Pure Risk B. Speculative Risk C. Static Risk D. Dynamic Risk
58. Property damaged because of an earthquake is ____________ risk. A. Risk for general insurance B. Non-insurable risk C. Property risk D. None of the above
67. Reinsurance is also termed as ____________________ A. Double Insurance B. Reinsurance of Insurance C. Insurance of Insurance D. None of these
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