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Property and Casualty Exam 2023 with 100% correct answers
- Exam (elaborations) • 12 pages • 2023 Popular
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the one basic characteristic of any type of insurance is that the insured is returned to the same status that existed prior to the loss, but without a chance for gain or profit - correct answertrue 
 
which of the following coverages does an open peril policy provide? - correct answerperils other than those specifically named as being excluded 
 
determine the actual cash value in the following situation: original price of office equiptment when purchased 8 years ago- 9,000. depreciated amount a...
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Oklahoma Property and Casualty Insurance Exam 2023 with 100% correct answers
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Risk - correct answerThe chance or uncertainty of loss. 
 
Methods of Managing Risk - correct answer1. Avoid risk 
2. Control risk 
3. Retain a risk 
4. Transfer a risk 
 
Avoid Risk - correct answerNever get into a car. 
 
Control Risk - correct answerTraining workers in the safe use of welding tools, or installing a sprinkler system in a factory. 
 
Retain a Risk - correct answerIf any loss occurs, people will pay for it themselves. 
 
Transfer a Risk - correct answerUse a Hold Harmless Agreem...
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Oklahoma Property and Casualty Exam Questions and Answers (Latest Update 2024)
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Oklahoma Property and Casualty Exam Questions and Answers (Latest Update 2024)
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Oklahoma Property and Casualty Exam Questions and Answers 2024 May
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Oklahoma Property and Casualty Exam Questions and Answers 2024 May
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Oklahoma Property and Casualty Latest Update Graded A+
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Oklahoma Property and Casualty Latest 
 
Update Graded A+ 
 
Representations Statements made by the applicant on an insurance application. 
 
Contract of Utmost Good Faith An insurer must rely o the truthfulness and integrity of the 
applicant. 
 
Contract of Adhesion When one party constructs the contract and the other party has no 
input. 
 
Elements of a Legally Binding Contract 1. Legal Purpose 
 
2. Agreement (Offer and Acceptance) 
3. Competent Parties 
4. Consideration 
 
Special Peril Ty...
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Oklahoma Property and Casualty Exam Prep With Complete Solutions
- Exam (elaborations) • 3 pages • 2023
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Oklahoma Property and Casualty Exam Prep With Complete Solutions...
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Oklahoma Property and Casualty exam 2023 with 100% correct answers
- Exam (elaborations) • 15 pages • 2023
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Oklahoma Property and Casualty exam 2023 with 100% correct answers
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Oklahoma Property and Casualty exam 2023 with 100% correct answers
- Exam (elaborations) • 16 pages • 2023
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Oklahoma Property and Casualty exam 2023 with 100% correct answers
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Oklahoma Property and Casualty exam 2023 with 100% correct answers
- Exam (elaborations) • 24 pages • 2023
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Oklahoma Property and Casualty exam 2023 with 100% correct answers
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Oklahoma Property and Casualty exam 2023 with 100% correct answers
- Exam (elaborations) • 7 pages • 2023
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Oklahoma Property and Casualty exam 2023 with 100% correct answers
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Oklahoma Property and Casualty exam 2023 with 100% correct answers
- Exam (elaborations) • 5 pages • 2023
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Oklahoma Property and Casualty exam 2023 with 100% correct answers
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Oklahoma Property and Casualty exam 2023 with 100% correct answers
- Exam (elaborations) • 3 pages • 2023
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Oklahoma Property and Casualty exam 2023 with 100% correct answers
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