Managing Human Capital
A property purchased 10 years ago for $100,000 has a replacement value today of $200,000. It has depreciated 3% each year. What is today's actual cash value? A. $200,000 B. $70,000 C. $140,000 D. $100,000
$140,000 *Current replacement cost of $200,000 minus 30% depreciation= $140,000
Risk is defined as: A. Specific cause of loss B. Amount of loss C. Insurable interest in property D. Uncertainty or chance of loss
Uncertainty or chance of loss.
What is the name for an insurer authorized to write insurance policies in a particular state?
A. Admitted
Which of the following is considered a hostile fire? A. An uncontrolled campfire in the woods B. The fire in the firebox of a furnace C. A fireplace containing a roaring wood fire D. The fire in the trashcan being used to burn leaves.
A. An uncontrolled campfire in the woods.
The Law of Large Numbers provides that: A. As the number of insured units increases, predicability of losses improves. B. As the number of insured units increases, losses decrease C. If funds are insufficient to pay claims, the insured is assessed additional premium. D. Small certain losses are substituted for large uncertain losses.
A. As the number of insured units increases, predictability of losses improves. *The larger the sample is, the more accurate the prediction is.
When property is valued on a replacement cost basis, losses will be paid: A. At today's cost, without any deduction for depreciation B. At the cost to replace with functionally equivalent property C. At an amount previously agreed upon by the insured and insurer D. At market value of the damaged property
A. At today's costs, without any deduction for depreciation
The part of the insurance contract that varies with each individual policy, but is still a mandatory part of the policy, is the: A. Declarations B. Insuring agreement C. Conditions D. Exclusions
A. Declarations
Which Federal entity administers the Terrorism Risk Insurance Program Reauthorization Act? A. Department of the Treasury B. Executive office C. Secretary os State D. Department of Defense
A. Department of the Treasury. *The terrorism risk insurance act, which protects consumers by ensuring the continued widespread availability and affordability of property and casualty insurance for a terrorism risk, is administered by the dept. of treasury.
Which of the following is attached to a property and casualty insurance policy to amend policy provisions or conditions? A. Endorsement B. consideration C. Warranty D. Exclusion
A. Endorsement *Endorsements are used to modify a policy. They may be used to broaden or restrict coverage, or further define conditions.
The Gramm-Leach Bliley Act was responsible for which of the following? A. Establishment of privacy protection for consumers B. Enforcement of fraudulent insurance acts C. Regulation of investment companies D. Deregulation of the trucking industry
A. Establishment of privacy protect for consumers. *The Gramm-Leach Act also allowed the merger of banks, securities companies, and insurance companies
When an individual faces the risk of economic loss in the event of property damage, this indicates which of the following? A. Insurable interest B. Subrogation C. Merit Rating D. Limit of recovery
A. Insurable Interest *Typically, if there is a risk of financial loss, there is an insurable interest.
All of the following are considered part of the consideration of an insurance contract, except: A. Issuance of the policy B. The insurer's promise to indemnify in the event of loss C. The payment of a claim for the insured D. Payment of the initial premium
A. Issuance of that policy *The issuance of a policy is not part of the consideration of an insurance contract. It is part of the agreement (acceptance).
For a claim to be paid, insurable interest for a property or casualty contract must exist a the time of: A. Loss B. Premium payment C. Policy Delivery D. Policy issuance
A. Loss
Construction material having a fire-resistance rating between one and two hours for walls, floors and roofs, is classified as: A. Modified fire-resistive B. Fire Resistive C. Jointed Masonry D. Non-Combustible
A. Modified fire-resistive
The insured is not required to do which of the following in the event of a property claim. A. Notify police, whether or not a law has been broken B. Give notice of loss ASAP C. Cooperate with the insurance company D. Protecting property from further damage.
A. Notify police, whether or not a law has been broken.
When coverage applies to a property loss by all perils except those specifically excluded, the policy is written on which basis? A. open perils B. valued policy C. named perils D. agreed value
A. Open perils *The open perils policy covers all risks of that are not expressly excluded, rather than enumerating the perils being insured against.
The insuring agreement of a policy describes: A. Perils that are covered B. Transfer of the rights of recovery C. The duties of the insured in the event of a loss D. Perils that are not covered.
A. Perils that are covered
A state requiring that the commissioner agree that a company's rates are appropriate before they are made effective uses which type of rating approval? A. Prior approval B. Mandatory C. File and use D. Open Competition
A. Prior approval
Which of the following places insurance with a non-admitted insurer when insurance cannot be placed with an admitted insurer? A. Surplus Lines producer B. General Consultant C. General use producer D. Direct response company
A. Surplus Lines Producer
Which of the following statements is true concerning the National Association of the Insurance Commissioners? A. The association promotes uniformity among states B. Regulations and laws are passed at its meetings C. The NAIC regulates the insurance industry in the United States and has enforcement powers D. The NAIC was responsible for passage of the McCarran Act
A. The association promotes uniformity among states. * The NAIC is an advisory group that makes regulatory and legislative recommendations, but does not write or pass laws.
The following are all found on the declarations page, except: A. The exclusions B. Amount of the deductible C. Location of the insured property D. Expiration date of the policy
A. The exclusions
Which of the following is not true about an insurance policy? A. The insuring agreement includes the name of the insured B. An insurance policy that pays before all other coverage is called primary coverage C. A deductible is a specified amount of loss that is retained by the insured D. An application is a document that provides information for underwriting purposes
A. The insuring agreement includes the name of the insured *The insuring agreement contains the insurer's promises to the insured. The insured's name is found in the declarations
All of the following statements regarding a property policy are correct except: A. The insuring agreement personalizes the policy, specifying the exact property being insured B. A deductible is a portion of a loss that an insured must bear C. An indirect loss is an additional loss that results from a direct loss D. The conditions describe the responsibilities and obligations of the insurer and the insured
A. The insuring agreement personalized the policy, specifying the exact property being insured
All of the following are elements of an insurable risk, except: A. The loss may be catastrophic B. The loss must be measurable C. The loss must be accidental D. There must be a large number of homogenous units with the same exposure.
A. The loss may be catastrophic
An insured owns a home with a replacement cost of $300,000 and a market value of $250,000. What is the most a valued policy will pay in the event of a total loss without a deductible? A. The policy limit B. $250,000 C. $240,000 D. $300,000
A. The policy limit *A total loss under a valued policy is payable based on the policy limit listed on the declarations page.
If a fire burns the home and property of an insured, what must the insured provide? A. Pictures of the damage B. An inventory of the damaged property C. Proof that they called the fire department D. Receipt for the fire extinguisher in the garage.
B. An inventory of the damaged property *preparing an inventory of the damaged property is one of the duties in the event of loss under the conditions section of a policy
Which of the following methods of writing insurance is usd to provide insurance on properties at different locations, using a single policy, and a single limit of insurance. A. Listed. B. Blanket C. Scheduled D. Unified.
B. Blanket. *Covers more than one item of property on one policy for a single amount of insurance, which applies to each item as needed.
When both parties to a contract must perform certain duties in order to make the contract enforceable, this is known as a(n): A. Aleatory contract B. Conditional contract C. Contract of adhesion D. Unilateral contract
B. Conditional contract
Which of the following is not true of the Fair Credit Reporting Act? A. A consumer is protected from unwelcome personal information collection practices B. Errors in the report can only be changed by court action C. A consumer can obtain the information in the reporting agency file D. A consumer must be informed whenever insurance was denied due to an adverse report
B. Errors in the report can only be changed by court action
Loss of income suffered by a store owner after his/her store is destroyed in a fire is considered a(n): A. Secondary loss B. Indirect loss C. Provisional loss D. Delayed loss
B. Indirect loss *The direct loss to the property is damage caused by an insured peril, the fire. The indirect, or consequential, loss is further financial loss that results from the loss of business income due to the loss of the damaged store.
Which section lists the perils insured against by a property insurance policy? A. Declarations B. Insuring agreement C. Additional Coverages D. Definitions
B. Insuring agreement *The insuring agreement is the company's commitment to protect the insured and includes a description of the perils insured against.
Which of the following is not true about insurance? A. It transfers risk B. It eliminates risk C. It is a means of sharing loss D. It protects against uncertainty
B. It eliminates risk
Which statement defines a peril? A. It is a condition that may increase a loss. B. It is the specific cause of loss. C. It is an indirect loss D. It is defined as a risk of financial loss.
B. It is the specific cause of loss
The Principle of Indemnity helps avoid which of the following? A. Loss exposure B. Overpayment of a claim C. Underinsurance D. Adverse selection
B. Overpayment of a claim
Which of the following statements is not correct regarding rates and premiums? A. Rates are considered inadequate when they do not cover projected losses and expenses. B. Rates may only be excessive if the insurer is making up for lost reserves. C. The rate is the amount charged for a particular unit of insurance D. A premium is the total cost for the amount of insurance purchased.
B. Rates may only be excessive if the insurer is making up for lost reserves. * Rates may not be excessive or unfairly discriminatory for nay reason.
An agent has authority to do all of the following, except: A. Appoint a solicitor as his or her representative. B. Represent the insured's interest. C. Solicit applications on insurer's behalf. D. Countersign insurance contracts
B. Represent the insured's interest. * An Agent is primarily the representative of an insurer.
X's neighbor shoots off fireworks on July 4th and puts the shells in X's trash can, causing a fire and damaging X's garage. X's company pays the loss and contacts the neighbor from reimbursement. This is an example of: A. Reimbursement B. Subrogation C. Appraisal D. Loss Settlement
B. Subrogation *Subrogation rights apply when negligent third party is the cause of a loss. Since the insurance company has paid the loss, it is granted the insured's right to recover payment from the third party.
Which of the following is an example of risk reduction? A. Eliminating exposure to a specific risk B. Taking action to minimize the severity of a potential loss C. Transferring risk to an insurance company D. Insuring only those risks that threaten the financial stability of the insured
B. Taking action to minimize the severity of a potential loss
The assignment provision requires that: A. No requirements my be placed upon the insured without legal action. B. The insured may not transfer ownership of the policy without the insurer's written permission C. The naming of parties other than the insured on loss payment checks is prohibited. D. The insured must give prompt notice to the company upon loss.
B. The insured may not transfer ownership of the policy without the insurer's written permission.
Which term is described as the relinquishment of a legal right? A. Estoppel B. Waiver C. Rescission D. Liability
B. Waiver Waiver is the voluntary relinqishment of a legal right.
Which of the following is not an example of a pure risk? A. A fire causing a home to be uninhabitable B. Wall Street's decline in the stock market C. A slip and fall injury at a large department store. D. A tornado destroying a mobile home park.
B. Wall Street's decline in the stock market. * A decline in the stock market is a speculative risk
Which of the following is not true about a Reciprocal insurance company? A. Each subscriber assumes a share of the risk of all other subscribers. B. Reciprocal companies may only transact liability insurance C. It allows individuals and corporations to exchange insurance on one another's risks. D. If funds are insufficient to pay claims, the subscribers are assess for additional premium.
B. reciprocal companies may only transact liability insurance. * Reciprocals, unlike risk retention groups, are not restricted on type of insurance they transact.
All of the following statements about binders are true, except: A. A binder specifies the perils covered B. A binder specifies the insurer providing the coverage C. A binder specifies the premium account D. A binder specifies the effective date of coverage and amount of coverage.
C. A binder specifies the premium amount *The declaration specifies the premium amount not the binder.
Property insurance policies that apply coverage only to perils that are stated in the policy, are considered to be written on: A. A replacement cost basis B. An open perils basis C. A named peril basis D. An actual cash value basis
C. A named peril basis
What is the term for a cause of loss, such as the theft of a car? A. Accident B. Hazard C. A peril D. Risk
C. A peril *A peril is a cause of potential loss to property such as fire, windstorm, hail, flood.
What is it called when less desirable insureds seek insurance coverage to a greater extent than better risks? A. Estoppel B. Sharing C. Adverse selection D. Law of large numbers
C. Adverse selection *Adverse selection is the tendency of risks more prone to loss to seek greater than average coverage.
A stock insurance company is: A. An insurance company owned by the policy holders B. Any insurance company incorporated in and having its home office in the state. C. An insurance company owned by stockholders D. A insurance company incorporated in some other state, but having its executive or home office in this state.
C. An insurance company owned by its stockholders
An applicant could purchase an insurance policy to cover losses from all the following, except: A. Sudden and direct damage to property by natural causes. B. Loss of asset through torn actions brought against the person. C. An operation of drug smuggling. D. Loss of property through burglary or theft.
C. An operation of drug smuggling
The provision that the insured's interest in a property insurance policy may not be transferred to another person without the consent of the insurance company, is called: A. Changes B. Mortgage clause C. Assignment D. Endorsement
C. Assignment
The termination of an insurance policy, by either the insured or the insurer bofore the expiration date, is known as: A. Subrogation B. Abandonment C. Cancellation D. Nonrenewal
C. Cancellation
When Applicant P fails to disclose all of his motor vehicle violations in an applications for automobile insurance, he may be guilty of: A. Breach of warranty B. Avoidance C. Concealment D. Estoppel
C. Concealment
Which of the following describes both the premium paid by the insured and the promise by the insurer to any a covered loss and defend the insured in a lawsuit? A. Acceptance B. Legal purpose C. Consideration D. Offer
C. Consideration *Consideration is the term used to describe the rights, money, promises or property exchanged between the parties as part of a contract transaction.
The additional coverages part of a property insurance policy provides: A. The insured the right to request that extra coverage be provided by endorsement B. The insured the right to request additional coverage supplement the policy after paying an additional premium C. Coverage that supplements the basic coverages in the insuring agreement which is automatically included without an additional premium D. The company the right to voluntarily waive the deductible
C. Coverage that supplements the basic coverages in the insuring agreement which is automatically included without an additional premium
Which of the following statements regarding deductibles is true? A. Deductibles reduce the total amount of insurance available. B. Deductibles tend to increase premiums C. Deductibles help reduce the number of frivolous or small claims. D. Deductibles apply only to larger losses.
C. Deductibles help reduce the number of frivolous or small claims.
Rates are referred to as which of the following when the insurance company files for approval and then implement the rates? A. Open Competition B. Mandatory C. File and Use D. Prior Approval
C. File and Use
Which of the following is not a condition found in an insurance policy? A. Assignment B. Liberalization C. Insuring Agreement D. Subrogation
C. Insuring Agreement
A false statement in the application for insurance is called a: A. Concealment B. Warranty C. Misrepresentation D. Representation
C. Misrepresentation
For a loss to be covered under a standard property policy, the insured must do which of the following? A. contact an independent claims adjuster B. Obtain a written appraisal of the damages C. Protect property from further damage D. Provide proof of loss within a year of the claim
C. Protect property from further damage
Which of the following terms refers to the risk management technique of assuming the responsibility for a loss? A. Avoidance B. Transfer C. Retention D. Reduction
C. Retention * Risk retention involves assuming the responsibility for loss.
The location of the insured risk can be found is in which part of an insurance policy? A. The conditions B. The insuring agreement C. The declarations D. The definitions
C. The Declarations
All of the following statements regarding coinsurance are true, except: A. The higher the coinsurance percentage, the lower the premium B. The purpose of coinsurance is to encourage one to carry insurance to value. C. The coinsurance clause increases the policy's deductible amount D. Coinsurance applies only in the event of a partial loss.
C. The coinsurance clause increases the policy's deductible amount. *The purpose of coinsurance is to encourage one to carry insurance to value. It has no impact on the deductible
Short rate cancellation occurs when: A. The policy is non-renewal B. An insurer cancels the policy mid-term C. The insured cancels the policy mid-term D. A policy is flat cancelled
C. The insured cancels the policy mid-term
Which of the following is true about the right of salvage? A. The insured has the right to keep damaged property after payment of a loss B. Damaged property must be disposed of after a loss. C. The insurer has the right to take possession of damaged property after payment of a loss D. The insurer is required to take possession of damaged property after a loss.
C. The insurer has the right to take possession of damaged property after payment of a loss.
Which of the following is true of the insuring agreement? A. It provides the name and address of the insured and the name of the insurer B. It lists the policy premium amoung C. The promise to indemnify an insured for a covered cause of loss D. It provides the policy conditions
C. The promise to indemnify an insured for a covered cause of loss
The reasonable Expectations Doctrine states that: A. Policy owner ay reasonably expect that all claims submitted will be paid. B. The insurer may reasonably expect full cooperation of the insured in the event of a loss. C. The reasonable expectations of policy owners will be honored even if the strict terms of the policy do not support these expectations D. A policy owner may expect the insurer to refund premiums if no claims are made.
C. The reasonable expectations of policy owners will be honored even if the strict terms of the policy do not support these expectations.
Insurance is an example of which type of risk management technique. A. Element of risk B. Retention of risk C. Transfer of risk D. Reduction of risk
C. Transfer of risk
When the insurance company and insured cannot agree upon the amount of the loss, the person selected to help the two hired appraisers is can a(n): A. Adjuster B. Claim representative C. Umpire D. Agent
C. Umpire
Statements in the application that are guaranteed true but later found to be false at the time of application may result in which of the following? A. Establishment of a monetary penalty B. A waiver of the provisions of the warranty C. Voidance of the contract D. Nullification of the warranty
C. Voidance of the contract *A breach of warranty is a determination that a warranty has proven to be untrue, whether intended as a falsehood or not, and may void the contract.
Fraud is an intentional act of any of the following, except: A. Deceit B. Concealment C. Warranty D. Misrepresentation used to induce someone to part with something of value
C. Warranty * A warranty is a statement in the application guaranteed true in all respects.
A contract that allows an insured to be restored to the same financial condition as prior to the loss is considered: A. A contract of adhesion B. A unilateral contract C. An aleatory contract D. A contract of indemnity
D. A contract of indemnity
The following statements regarding hazards are all correct, except: A. A gambling addiction could be a moral hazard. B. A moral hazard arises from a disposition for dishonesty. C. Ice on a sidewalk is a physical hazard. D. A moral hazard arises from an attitude of indifference to loss.
D. A moral hazard arises from an attitude of indifference to loss.
Which statement is correct? A. Loss of profits resulting from a fire is a direct loss B. Most property policies include inherent vice as a covered peril C. Blanket coverage is commonly written when insuring property at a single location D. A spark that jumps from a fireplace and ignites a nearby rug would be deemed a hostile fire.
D. A spark that jumps from a fireplace and ignites a nearby rug would be deemed a hostile fire. *A hostile fire is one that leaves the area in which it was intended to be kept.
Which of the following is not an element of an insurable risk? A. The ability to set a measurable value on it. B. Accidental loss C. Large number of homogenous units D. Catastrophic perils
D. Catastrophic Perils
Which of the following applies when two parties rely upon the promises of the other? A. Parole evidence rule B. Doctrine of estoppel C. Concept of adhesion D. Concept of utmost good faith
D. Concept of utmost good faith *Says that both parties with bargain in good faith to form the contract.
What is the term for a contract written by one party on a "take it or leave it" basis? A. Aleatory contract B. Bilateral contract C. Conditional Contract D. Contract of Adhesion
D. Contract of adhesion
The part of an insurance contract that varies with each individual policy, but is still a mandatory part of the policy, is the: A. Exclusions B. Insuring agreement C. Conditions D. Declarations
D. Declarations
When firefighters extinguish a house fire with water, the water damage is considered a(n): A. Consequential loss B. Indirect loss C. Loss that will be subrogated to the fire department D. Direct loss
D. Direct loss
Estoppel is defined as which of the following? A. Estoppel is the intentional misrepresentation of a material fact. B. Estoppel is the intentional abandonment of a known right C. Estoppel is the failure to disclose known facts D. Estoppel prevents a party from denying a fact, if the fact was admitted to be true by a previous action.
D. Estoppel prevents a party from denying a fact, if the fact was admitted to be true by a previous action. *Prevents the denial of fact, if the fact was admitted to be true previously
The authority of a producer that is stated in his/her agency contract, are said to be: A. Apparent powers B. Implied powers C. Assumed powers D. Express Powers
D. Express Powers Referred to as express powers because they are expressed by the agency contract.
If an insurer is incorporated in Rhode Island, but primarily does business in New York, what type of insurer would be considered in New York? A. Alien B. Nonadmitted C. Domestic D. Foreign
D. Foreign
When fililng a claim, the insured is required to do all of the following, except: A. Protect property from further damage B. Cooperate with the insurance company C. Give notice of loss as soon as possible D. Hire an appraiser
D. Hire an appraiser
Which of the following is not true about insurance? A. Risk is transferred to the insurer B. The insured may retain part of the risk through deductibles C. Declining to own a business is an example of risk avoidance D. Insurance covers intentional as well as unintentional losses
D. Insurance covers intentional as well as unintentional losses.
Each participant of a Lloyds association: A. Participates on every policy issued B. Is legally liable for teh unpaid part of any loss sustained by all defaulting underwriters. C. Insures against every risk that is underwritten. D. Is individually liable for each risk they assume.
D. Is individually liable for each risk they assume
All of the following are true of subrogation, except: A. It allows the insurer to attempt collection from a third party to reimburse a loss B. It prevents the insured from collecting twice for the same loss C. Helps the insurer control expenses and premiums D. It allows the insurer to file suit against the insured
D. It allows the insurer to file suit against the insured.
Which property insurance condition states that a suite may not be filed by the insured against the insurer under certain circumstances? A. loss payment B. Ordinance or law C. Claim settlement D. Legal Action Against us
D. Legal action against us *Unless all terms of the policy have been complied with by the insured, the insured cannot file suit against the insurer. An insured cannot ignore his/her responsibilities under the policy, then subsequently bring legal action against the insurer.
The owner of an antique store leaves valuable breakable items on display while heavy construction is taking place, believing that any pieces that fall and break will be covered by insurance. This demonstrates which hazard? A. Speculative hazard B. Physical hazard C. Moral hazard D. Morale hazard
D. Morale hazard *considered an attitude of indifference or carelessness which increases the probability of a loss.
The loss of property when the cause of loss is not known is considered: A. Robbery B. Burglary C. Theft D. Mysterious disappearance
D. Mysterious disappearance
All of the following statements regarding property insurance terminology are true, except: A. Words, terms, or phrases that are described in an insurance policy are definitions B. An insurance policy that pays only after primary coverage has been exhausted is said to be excess. C. A deductible is a specified amount of loss that is retained by the insured D. Proximate cause is a secondary cause of loss
D. Proximate cause is a secondary cause of loss *Proximate cause is the primary cause of loss, or the first event in the unbroken chair of events.
Insurance is designed to provide protection against which of the following? A. Involuntary risk B. Speculative risk C. Certain risk D. Pure risk
D. Pure risk * With pure risk, the only consideration is the possibility of loss or no loss.
Where can an insured find insurance coverage after being rejected by insurer A due to claims history? A. Risk retention insurer B. Lloyd's of London C. Reinsurance market D. Residual market
D. Residual Market * The residual market is a coverage source of last resort for businesses and individuals who have been rejected by voluntary market insurers.
A hazard is best defined as: A. The loss itself B. The possibility of a loss C. A reduction in, decrease in, or disappearance of, value D. Something that increases the chance of loss
D. Something that increases the chance of a loss.
Which type of risk involves the possibility of loss or gain? A. Pure B. Insurable C. Stable D. Speculative
D. Speculative *A speculative risk is one where there is the possibility of gain or loss.
an insurer with capital that is divided in shares and is owned by shareholders is considered a: A. Fraternal benefit society B. Mutual company C. Reciprocal insurer D. Stock company
D. Stock Company
All of the following are options for managing risk, except: A. Avoiding the risk B. Retaining the risk C. Transferring the risk D. Subrogating the risk
D. Subrogating the risk * Subrogation is not a risk management technique, but rather a means of collecting a loss payment for a liable party.
The transfer of the right of recovery from the insured to the insurance company is called: A. Assignment B. Hold harmless C. Indemnity D. Subrogation
D. Subrogation *Subrogation allows the insurer to take legal action against the negligent third party.
Which type of insurance provides coverage when insurance is not available from an admitted carrier? A. Foreign B. Residual C. Facultative D. Surplus
D. Surplus *Non-admitted business must be transacted through a surplus lines broker or producer.
Which of the following is stated in the insuring agreement? A. The other insurance B. The location of insured property and the named insured's mailing address C. The perils excluded by the policy D. The perils insured against
D. The perils insured against
Under aleatory contracts the exchange of values may be: A. Rescinded B. Equal C. Waived D. Unequal
D. Unequal *An Aleatory contract is contingent on particular events, such as a covered loss. Under an insurance policy, the insurer's obligation to pay a loss depends on uncertain events, while the insured must pay a fixed premium during the policy period. Thus, the exchange of values is likely to be unequal between any given insurer and insured.
Which of the following is a physical hazard? A. Dishonesty on the part of an insured. B. An insured's attitude that good housekeeping is not important. C. The storage of flammables in a fireproof container. D. Uneven pavement in a sidewalk
D. Uneven pavement in a sidewalk *A physical hazard is a physical condition that increases the probability of loss to the property.
What is the term for a dwelling that is uninhabited but has household furniture inside? A. Vacant B. Morale hazard C. Other structure D. Unoccupied
D. Unoccupied
