100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
XCEL Chapter 2 2024 UPDATE MOST TESTED TEST PRACTICE COMPREHENSIVE QUESTIONS AND VERIFIED CORRECT ANSWERS GRADE A+ GET IT RIGHT $17.99   Add to cart

Exam (elaborations)

XCEL Chapter 2 2024 UPDATE MOST TESTED TEST PRACTICE COMPREHENSIVE QUESTIONS AND VERIFIED CORRECT ANSWERS GRADE A+ GET IT RIGHT

 7 views  3 purchases
  • Course
  • XCEL Chapter 2
  • Institution
  • XCEL Chapter 2

XCEL Chapter 2 2024 UPDATE MOST TESTED TEST PRACTICE COMPREHENSIVE QUESTIONS AND VERIFIED CORRECT ANSWERS GRADE A+ GET IT RIGHT

Preview 2 out of 10  pages

  • June 13, 2024
  • 10
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
  • XCEL Chapter 2
  • XCEL Chapter 2
avatar-seller
MEGAMINDS
XCEL Chapter 2 2024 UPDATE
MOST TESTED TEST PRACTICE COMPREHENSIVE
QUESTIONS AND VERIFIED CORRECT ANSWERS
GRADE A+ GET IT RIGHT


An example of risk sharing would be?
A. Adding more security to a high-risk building
B. Choosing not to invest in the stock market
C. Doctors pooling their money to cover malpractice exposures
D. Buying an insurance policy to cover potential liabilities -
(correct answer) Doctors pooling their money to cover
malpractice exposures


Insurance represents the process of risk?
A. selection
B. avoidance
C. transference
D. assumption - (correct answer) transference


How do insurers predict the increase of individual risks?
A. Law of large numbers

, B. U.S. Census
C. Average mortality incidents
D. Experience of morbidity - (correct answer) Law of large
numbers


What is known as the immediate specific event causing loss and
giving rise to risk?
A. Peril
B. Hazard
C. Loss factor
D. Liability - (correct answer) Peril


All of the following are examples of pure risk EXCEPT?
A. Losing money at a casino
B. Injured while playing football
C. Falling at a casino and breaking a hip
D. Jewelry stolen during a home robbery - (correct answer)
Losing money at a casino


People with higher loss exposure have the tendency to
purchase insurance more often than those at average risk. This
is called?

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller MEGAMINDS. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for $17.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67096 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 14 years now

Start selling
$17.99  3x  sold
  • (0)
  Buy now