Insurance
Ashford University
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FUNDAMENTALS OF INSURANCE (BC) EXAM / 400 QUESTIONS AND VERIFIED ANSWERS / 2023/2024 ALL CORRECT / GRADED A+.
- Exam (elaborations) • 32 pages • 2023
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Fundamentals Of Insurance (BC) 
2023 
1. Insurance plays an important role in managing financial risk. The main 
purpose of Insurance is to: 
A. Enable the consumer to obtain loan or mortgage. 
B. Provide employment and investment capital. 
C. Allow spread of risk. 
D. Reduce losses through loss prevention and loss reduction.: C. Allow spread 
of risk. 
2. When the insurer terminates an insurance policy, ALL of the following 
conditions apply, EXCEPT one. Pick the exception: 
A. The insured is e...
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