State Farm| 141 QUESTIOINS| 8 PAGES| GRADED A

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Which must have an appointment? Consultant/producer/insured Correct Answer: Producer Define Pure Risk Correct Answer: Chance of loss with no possibility of gain The Law of Large Numbers says? ... Correct Answer: Losses become more predictable as the number of insureds increases A broker represents? Correct Answer: Insured A Producer Represents? Correct Answer: Insurer Insurance is regulated at which level? State or Federal Correct Answer: State A peril is? Correct Answer: Cause of loss Limit of liability is? Correct Answer: Maximum policy will pay for a loss All - Risk Correct Answer: Covers all perils but those listed in exclusions What is a Hazard? Correct Answer: Any factor that increases the chance of a loss occurring What is a; rider, endorsement or extension? Co [Show More]

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