Exam (elaborations)
C11 principles and practice of insurance chapters 1 & 2 Exam | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
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Risk : Uncertainty about an outcome, event might occur and it might not be favorable, the possibility of loss Differentiate between risk and chance : chance can have a good outcome whereas risk is always negative Peril : Event that gives rise to a loss. Beyond anyone's control. Examples are ...
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