MN LIFE ACCIDENT & HEALTH PRODUCER EXAM VERIFIED A
Risk Concepts
What type of risk involves the chance of loss or gain, and is not insurable? Options: a. Speculative risk; b.
Pure risk; c. Peril; d. Moral hazard
Answer: a. Speculative risk;
Risk Types
Which type of risk involves the cha...
MN LIFE ACCIDENT & HEALTH PRODUCER EXAM VERIFIED A
Risk Concepts
What type of risk involves the chance of loss or gain, and is not insurable? Options: a. Speculative risk; b.
Pure risk; c. Peril; d. Moral hazard
Answer: a. Speculative risk;
Risk Types
Which type of risk involves the chance of loss only, and is insurable? Options: a. Pure risk; b. Speculative
risk; c. Peril; d. Morale hazard
Answer: a. Pure risk;
Hazards
What is a peril? Options: a. Something that causes a direct loss; b. A visible hazard; c. A moral hazard; d.
An exposure to loss
Answer: a. Something that causes a direct loss;
Hazard Types
What is a physical hazard? Options: a. Visible (black ice); b. Invisible (theft); c. Moral (fraud); d. Physical
(accident)
Answer: a. Visible (black ice);
Insurable Risk
What is moral hazard? Options: a. Dishonest tendencies (fraud); b. Carless, irresponsible behavior; c.
Excessive risk-taking; d. Lack of insurance coverage
Answer: a. Dishonest tendencies (fraud);
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