AINS 21 EXAM PACKAGE DEAL GRADED A+

Producer - Any of several kinds of insurance personnel who place insurance and surety business with insurers and who represent either insurers or insureds, or both Agent - In the agency relationship, the party that is authorized by the principal to act on the principal's behalf Agency - A legal...

The primary role of insurance is to A. Educate individuals and organizations about loss prevention. B. Indemnify individuals and organizations for covered losses. C. Sell insurance policies to individuals and organizations. D. Make a profit for the insurance company's shareholders. - Answer B. ...

traditional RM vs ERM - traditional - pure risk; manage safety, buy ins, control financial recovery ERM - pure and speculative risk; corporate level; all types of risks ***max organization's value individuals & families vs organizations - individuals & families - informal series of efforts; part ...

Loss Exposure - Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs. Risk Management - The process of making and implementing decisions that will minimize the adverse effects of accidental losses on an organization Loss Prevention - A risk control...

A firm of computer systems consultants would most likely purchase this type of coverage to protect them in the even that they provide incorrect advice that causes financial injury to a customer? - professional liability insurance - covers professionals for errors or omissions arising out of their ...

From a risk management viewpoint, insurance is used to A. Prevent the cost of losses B. Reduce the cost of losses C. Transfer the cost of losses D. Isolate the cost of losses. - Answer C. Transfer the cost of losses. A loss exposure is: A. Any condition that presents the possibility of a loss. ...

Loss exposure - Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Risk management - The process of making and implementing decisions that will minimize the adverse effects of accidental losses on an organization Loss prevention - A risk control ...

What is insurance? - It's a transfer system, business, and contract. What is a transfer system in insurance? - One party (the insured), transfers the risk of financial loss to another party (the insurer). [Essentially, I'm giving the risk of financial loss to someone else so that I can keep my ...

when selecting a distribution channel, which one of the following is important consideration with regard to customer needs and characteristics - Which of the following statements is correct regarding characteristics of ideally insurable loss exposures - ideally, loss exposures should be spread a...