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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?
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?
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?
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?
What type of hazard might prompt a lawsuit involving an insurer, such as misrepresenting oneself on a life insurance application?
What type of hazard increases the likelihood of a loss due to inadequacies in the condition, structure, or operation of an insured property?
What type of hazard increases the likelihood of a loss due to inadequacies in the condition, structure, or operation of an insured property?
Which type of hazard might prompt a lawsuit involving an insurer, such as misrepresenting oneself on a life insurance application?
Which type of hazard might prompt a lawsuit involving an insurer, such as misrepresenting oneself on a life insurance application?
What type of hazard results from fraudulent acts committed by an insured, such as filing false insurance claims?
What type of hazard results from fraudulent acts committed by an insured, such as filing false insurance claims?
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?
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?
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