Principios Generales de SegurosPregunta 221 de 531
A restaurant owner faces the chance that a kitchen fire destroys the building and the chance that a second location earns or loses money. An underwriter will consider only the fire exposure because:
a.the earnings exposure is a peril the policy defines away
b.the fire exposure is a pure risk, holding out loss or no loss
c.the earnings exposure is a physical hazard, not a real risk
d.the fire exposure is a speculative risk a large pool absorbs
Explicación
Insurers underwrite pure risk, where the only outcomes are a loss or no loss. The second location is a speculative risk because it can also produce a gain, and paying for that would turn insurance into an investment. Calling the earnings exposure a physical hazard confuses a tangible condition that raises the chance of loss with a business decision taken for profit.
Practica las 531 preguntas gratis — sin registro.
Own the complete California Property & Casualty Broker-Agent guide — PDF + EPUB, $24.99 →
Preguntas relacionadas de este tema
- The principle of indemnity is best described as:
- For a property insurance claim to be valid, the insured must have an insurable interest in the property:
- An insurance contract is described as a contract of adhesion. This means:
- An insurer that writes 60,000 similar small commercial buildings predicts its yearly fire losses far more closely than one writing 600. The reason is:
- A roofing contractor with three large liability claims shops hard for coverage while claim-free roofers renew quietly. An underwriter who prices the whole class alike is exposed to:
- A survey of an older warehouse finds brittle wiring and a blocked exit door. In insurance terms these two conditions are:
Última revisión: · proceso editorial
Equipo de PrepPass · Verificado con California Property & Casualty Insurance License Exam · Cómo revisamos