Insurance Hazards Quiz
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Questions and Answers

Which type of hazard increases the likelihood of a loss due to inadequacies in the condition, structure, or operation of an insured property?

  • Moral hazard
  • Legal hazard
  • Physical hazard (correct)
  • Morale hazard
  • What type of hazard results from fraudulent acts committed by an insured, such as filing false insurance claims?

  • Legal hazard
  • Morale hazard
  • Physical hazard
  • Moral hazard (correct)
  • 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?

  • Moral hazard
  • Morale hazard
  • Physical hazard
  • Legal hazard (correct)
  • What type of hazard might prompt a lawsuit involving an insurer, such as misrepresenting oneself on a life insurance application?

    <p>Moral hazard</p> Signup and view all the answers

    What type of hazard increases the likelihood of a loss due to inadequacies in the condition, structure, or operation of an insured property?

    <p>Physical hazard</p> Signup and view all the answers

    Which type of hazard might prompt a lawsuit involving an insurer, such as misrepresenting oneself on a life insurance application?

    <p>Legal hazard</p> Signup and view all the answers

    What type of hazard results from fraudulent acts committed by an insured, such as filing false insurance claims?

    <p>Moral hazard</p> Signup and view all the answers

    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?

    <p>Legal hazard</p> Signup and view all the answers

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