8 Questions
Which type of hazard increases the likelihood of a loss due to inadequacies in the condition, structure, or operation of an insured property?
Physical hazard
What type of hazard results from fraudulent acts committed by an insured, such as filing false insurance claims?
Moral hazard
Which hazard increases the likelihood and severity of a loss due to a condition imposed by the legal process that forces an insurer to cover a risk that it would otherwise deem uninsurable?
Legal hazard
What type of hazard might prompt a lawsuit involving an insurer, such as misrepresenting oneself on a life insurance application?
Moral hazard
What type of hazard increases the likelihood of a loss due to inadequacies in the condition, structure, or operation of an insured property?
Physical hazard
Which type of hazard might prompt a lawsuit involving an insurer, such as misrepresenting oneself on a life insurance application?
Legal hazard
What type of hazard results from fraudulent acts committed by an insured, such as filing false insurance claims?
Moral hazard
Which hazard increases the likelihood and severity of a loss due to a condition imposed by the legal process that forces an insurer to cover a risk that it would otherwise deem uninsurable?
Legal hazard
Test your knowledge of insurance hazards with this quiz. Learn about different types of hazards and their impact on risk. Understand how physical, legal, moral, and morale hazards can affect insurance policies and claims.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
