Ribo exam - Study guides, Class notes & Summaries

RIBO EXAM PREP 2024...

RIBO EXAM STUDYGUIDE 2024...

RIBO AUTO EXAM VERIFIED 2024

A cigarette sets an automobile seat on fire and causes $450 damage. The policy shows a $300 deductible under Specified Perils. What would the insurer pay? - $450 A claim under a liability policy may be triggered by which of the following? - A negligent act A Commercial Crime Insurance Policy: - Allows the selection of coverages from a menu A Commercial General Liability Policy covers which of the following? - All of the above A dwelling valued at $100,000 is owned and insured by three peopl...

RIBO EXAM 1 PRACTICE QUESTIONS AND ANSWERS ...

RIBO ENTRY LEVEL 1 UPDATED Exam Questions and CORRECT Answers Risk - Correct Answer- Chance of a loss Which type of risk is insured and why? - Correct Answer- Pure risk, because speculative risk is comparable to gambling. 3 Ways risk (management) is dealt with? - Correct Answer- REDUCE: preventative measures ASSUME/RETAIN: Self-insure TRANSFER: purchase insurance

RIBO Exam Prep (2023/2024) Already Passed Implied Contract a contract that comes about from the actions of the parties Express Contract Terms have been specificity states and agreed upon by both parties Reinsurance insurance for insurance companies Frequency Percentage of what we insure. severity $ amount of the loss contract agreement between two or more parties void The policy never existed. Any premium received must be returned. legal entity/person Someone who can sue or be sued. tort...

RIBO auto exam with complete solutions