Arkansas Insurance Adjuster Practice Exam

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Prepare for the Arkansas Insurance Adjuster Exam with flashcards and multiple choice questions, each offering hints and explanations. Equip yourself for your test confidently!

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When an insurer issues an insurance policy, the actual item, person, or organization that is being insured is called the:

  1. Beneficiary

  2. Insurer

  3. Risk

  4. Policyholder

The correct answer is: Risk

The actual item, person, or organization being insured is called the risk because it is the subject of the insurance policy and is at risk of experiencing a loss or damage. The beneficiary is the person or organization who receives payment from the insurer if a claim is made. The insurer is the company providing the insurance policy. The policyholder is the person or organization that purchases and is responsible for paying the premiums for the insurance policy. So, while all of the other options may be involved in the insurance policy, they are not the specific item, person, or organization being insured.

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