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Fundamentals of insurance Bundled Exam Questions Package with Correct Answers
Fundamentals of insurance Bundled Exam Questions Package with Correct Answers
[Show more]Fundamentals of insurance Bundled Exam Questions Package with Correct Answers
[Show more]risk - is the chance of financial loss 
peril - is the caise of financial loss for example- fire water and earthquake 
what is the main purpose of insurance - is to allow the spread of risk 
indemnity - means restoring the insureds to the sam financial position as they were in 
immediately prior to...
Preview 3 out of 21 pages
Add to cartrisk - is the chance of financial loss 
peril - is the caise of financial loss for example- fire water and earthquake 
what is the main purpose of insurance - is to allow the spread of risk 
indemnity - means restoring the insureds to the sam financial position as they were in 
immediately prior to...
5 important points in the definition of insurance - 1. Insurance shifts financial 
responsibility from one party to another 
2. Payment will be made only in event of certain risk or peril 
3.Amount restricted to amount required to indemnify insurer 
4. Covers accidental and future losses to which o...
Preview 4 out of 35 pages
Add to cart5 important points in the definition of insurance - 1. Insurance shifts financial 
responsibility from one party to another 
2. Payment will be made only in event of certain risk or peril 
3.Amount restricted to amount required to indemnify insurer 
4. Covers accidental and future losses to which o...
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