West Virginia Adjusters Practice Exam

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Prepare for the West Virginia Adjusters Exam with our interactive quizzes and comprehensive study resources. Practice with flashcards and detailed explanations to ensure success on your exam day!

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Practice this question and more.

Which of the following activities is a speculative risk?

Betting on a horse race
Insuring a vehicle
Purchasing homeowners insurance
Taking out a life insurance policy

The correct answer is: Betting on a horse race

A speculative risk is a risk that involves the possibility of gaining or losing something of value. Betting on a horse race is considered a speculative risk because there is no guarantee of winning or earning a return on the investment. Insuring a vehicle, purchasing homeowners insurance, and taking out a life insurance policy are all examples of pure risks, as they involve protecting against a potential loss rather than a potential gain.