Illinois Property Insurance Exam - Basic Principles

Pure Risk

Speculative Risk

Risk

Actuary

Law of large numbers

Insurable Interest

Indemnity

Indemnify

Deductible

Limits of Liability

Additional Coverage

Direct Physical Loss

Negligence

Damages

Representations

Warranties

Underwriting

Buildings

Personal Property

Actual Cash Value (ACV)

Elements of a Contract

Standard Fire Policy