Property & Casualty Insurance License (with general legal principles applicable to most U.S. states). Each answer includes a rationale

Property & Casualty Insurance License Exam

Section 1: General Insurance Principles

1. Which principle of insurance means that the insured must be in a position to

lose financially if a loss occurs?

 A) Indemnity

 B) Insurable interest

 C) Utmost good faith

 D) Subrogation

Answe...