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FFPN MODULE 4 INSURANCE BASICS & PROPERTY INSURANCE QUESTIONS WITH COMPLETE.
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FFPN MODULE 4 INSURANCE BASICS & PROPERTY INSURANCE QUESTIONS WITH COMPLETE.
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FFPN MODULE 4 INSURANCE BASICS &PROPERTY INSURANCE QUESTIONS
WITH COMPLETE
The nnprocess nnof nndeciding nnhow nnmuch nnand nnwhat nnkind nnof nninsurance nnto nnbuy
nnis nncalled nn(LO nn4-1)
life nninsurance nnplanning.
financial nnplanning.
risk nnmanagement.
insurance nnmanagement. nn- nnAnswer nnlife nninsurance nnplanning.
Life nninsurance nnis nnjust nnone nntype nnof nninsurance; nnthe nnprocess nnof nndeciding
nnhow nnmuch nnand nnwhat nnkind nnof nninsurance nnto nnbuy nnis nncalled nninsurance
nnmanagement.
financial nnplanning.
Financial nnplanning nninvolves nninsurance nnmanagement nnas nnwell nnas nnother
nnprocesses, nnsuch nnas nninvestment nnmanagement, nntax nnplanning, nnand nnestate
nnplanning.
risk nnmanagement.
Deciding nnhow nnto nndeal nnwith nninsurable nnand nnuninsurable nnrisk nnis nncalled nnrisk
nnmanagement. nnRisk nnmanagement nnis nnmore nncomprehensive nnthan nninsurance
nnmanagement.
(ANSWER) nninsurance nnmanagement.
The nnprocess nnof nndeciding nnwhat nnkind nnof nninsurance nnto nnbuy nnis nncalled
nninsurance nnmanagement. nnRisk nnmanagement nnis nnbroader nnthan nninsurance
nnmanagement nnby nnitself.
Liability nnrisk nnis nn(LO nn4-1)
,one nnform nnof nnpure nnrisk.
one nnform nnof nnspeculative nnrisk.
avoidable nnwith nngood nnbehavior.
only nna nnconcern nnfor nnwealthy nnindividuals. nn- nnAnswer nn(ANSWER) nnone nnform nnof
nnpure nnrisk.
This nnis nnjust nnone nnform nnof nnpure nnrisk.
one nnform nnof nnspeculative nnrisk.
Speculative nnrisk nncan nnresult nnin nneither nna nngain nnor nna nnloss; nnliability nnrisk nnhas
nnonly nndownside nnrisk.
avoidable nnwith nngood nnbehavior.
One nncan nnbe nndoing nnthe nnright nnthing nnbut nnstill nnget nnsued. nnGood nnbehavior
nncan nnreduce nnthe nnpossibility nnof nnbeing nnsued, nnbut nnit nncannot nneliminate nnit.
only nna nnconcern nnfor nnwealthy nnindividuals.
While nnliability nnrisk nnis nnmore nnof nna nnconcern nnfor nnwealthy nnindividuals, nnit nnis
nnalso nna nnconcern nnfor nnmost nnanyone, nnsince nnanyone nncan nnget nnsued.
Which nnone nnof nnthe nnfollowing nnis nnnot nna nnrequirement nnfor nnan nninsurable nnrisk
nnfrom nnthe nninsurance nncompany's nnperspective? nn(LO nn4-2)
nn
the nnlaw nnof nnlarge nnnumbers nnmust nnapply
the nnloss nnmust nnbe nncatastrophic
the nnloss nnmust nnbe nnaccidental
the nnloss nnmust nnbe nnmeasurable nn- nnAnswer nnthe nnlaw nnof nnlarge nnnumbers nnmust
nnapply
This nnis nnone nnof nnthe nnrequirements nnfor nnan nninsurable nnrisk.
(ANSWER) nnthe nnloss nnmust nnbe nncatastrophic
The nnloss nncannot nnbe nncatastrophic nn(for nnthe nninsurance nncompany) nnin nnorder
nnfor nnit nnto nnbe nnan nninsurable nnrisk.
the nnloss nnmust nnbe nnaccidental
This nnis nnone nnof nnthe nnrequirements nnfor nnan nninsurable nnrisk.
the nnloss nnmust nnbe nnmeasurable
This nnis nnone nnof nnthe nnrequirements nnfor nnan nninsurable nnrisk.
, Which nnone nnof nnthe nnfollowing nnis nna nncorrect nnstatement nnabout nninsurable
nninterest? nn(LO nn4-2)
The nnowner nnof nna nnlife nninsurance nnpolicy nnmust nnhave nnan nninsurable nninterest nnin
nnthe nninsured nnat nnthe nntime nnof nndeath.
Insurable nninterest nnis nnnot nna nnfactor nnafter nnpurchase nnof nnpersonal nnproperty.
Without nnthe nnrequirement nnof nninsurable nninterest, nnpolicy nnowners nncould nnunfairly
nnprofit nnfrom nninsured nncasualties.
A nnbeneficiary nnmust nnshow nnproof nnof nninsurable nninterest nnto nncollect nnthe nndeath
nnproceeds nnon nna nnlife nninsurance nnpolicy. nn- nnAnswer nnThe nnowner nnof nna nnlife
nninsurance nnpolicy nnmust nnhave nnan nninsurable nninterest nnin nnthe nninsured nnat nnthe
nntime nnof nndeath.
The nnowner nnof nna nnlife nninsurance nnpolicy nnmust nnhave nnan nninsurable nninterest nnin
nnthe nninsured nnat nnthe nntime nnof nnpurchase nnof nnthe nncontract. nnAn nninsurable
nninterest nnindicates nnthe nnpolicy nnowner nnwill nnsuffer nna nnloss nnas nna nnresult nnof
nnthe nninsured nncasualty nnor nndeath.
Insurable nninterest nnis nnnot nna nnfactor nnafter nnpurchase nnof nnpersonal nnproperty.
There nnmust nnbe nnan nninsurable nninterest nnin nnpersonal nnproperty nnat nnthe nntime nnof
nna nnclaim. nnAn nninsurable nninterest nnindicates nnthe nnpolicy nnowner nnwill nnsuffer nna
nnloss nnas nna nnresult nnof nnthe nninsured nncasualty nnor nndeath.
(ANSWER) nnWithout nnthe nnrequirement nnof nninsurable nninterest, nnpolicy nnowners
nncould nnunfairly nnprofit nnfrom nninsured nncasualties.
Without nnthe nnrequirement nnof nninsurable nninterest, nnpolicy nnowners nncould nnprofit
nnunfairly nnfrom nncasualty nnlosses nnor nnthe nndeath nnof nnothers nnwhere nnthey nnhave
nnno nninsurable nninterest nnwhatsoever. nnAn nninsurable nninterest nnindicates nnthe
nnpolicy nnowner nnwill nnsuffer nna nnloss nnas nna nnresult nnof nnthe nninsured nncasualty nnor
nndeath.
A nnbeneficiary nnmust nnshow nnproof nnof nninsurable nninterest nnto nncollect nnthe nndeath
nnproceeds nnon nna nnlife nninsurance nnpolicy.
A nnbeneficiary nndoes nnnot nnneed nnto nnshow nnproof nnof nninsurable nninterest nnto
nncollect nnthe nndeath nnproceeds nnon nna nnlife nninsurance nncontract. nnAn nninsurable
nninterest nnindicates nnthe nnpolicy nnowner nnwill nnsuffer nna nnloss nnas nna nnresult nnof
nnthe nninsured nncasualty nnor nndeath.
Which nnone nnof nnthe nnfollowing nnis nnnot nnone nnof nnthe nnbasic/standard nnsections nnof
nnan nninsurance nnpolicy? nn(LO nn4-2)
declarations
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