Definitions (AZ-L)

The insured can be described as what?

The insurance company that issues (sells) an insurance policy can be called of the following EXCEPT

Which of the following statements is FALSE?

Of the following statements, which one best describes the law of large numbers?

What is the title of the person who is the head of the Arizona Department of Insurance, and who is responsible for all Arizona insurance matters?

Bessie was in an auto accident and her car has $5,000 in damages. The $5,000 damage is best described as what?

Bonnie’s house was destroyed by a fire. The fire that destroyed Bonnie’s house is best described as what?

Allan owns a house and drives his car to work every day. Owning a house and driving a car are examples of what?

Of the following risks, which one can be covered by insurance?

For her birthday, Carol got a large vicious dog named Bubba that has a tendency to bite people. Having this type of dog is best described as what?

Charles knows his car has bad brakes, but he doesn’t take the time to get the brakes fixed and continues to drive the car. This is best described as what?

Bradley is thinking about intentionally burning down his house, so he can collect the insurance money. This is an example of what?

Ana owns a beautiful house. If the house burned to the ground, it would cost $250,000 to replace it. The $250,000 replacement cost is best described as what?