Income pooling - Study guides, Revision notes & Summaries

Speculative Risk - Answer - involves the chance of loss or gain, and is not insurable Pure Risk - Answer - involves the chance of loss only, and is insurable Peril - Answer - Something that causes a direct loss Physical Hazard - Answer - Visible (Black ice) Moral Hazard - Answer - dishonest tendencies (Fraud) Morale Hazard - Answer - Carless, Irresponsible (leaving keys in car) Exposure - Answer - susceptibility to loss Adverse selection - Answer - those with high ri...

Life Insurance Exam-Illinois Questions and Answers (2023 / 2024) (Verified Answers) Pooling of Risks A large group of people contribute money to a fund out of which their losses can be paid Policyowner is the person or org that applies for the policy and pays the premium Actuarial Tables Are statistical tables that are used when calculating premium rates and mortality loss reserves Life Insurance Policies transfer: financial risks of premature death on a defined amount L...

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 across a large number of similar exposure units within the same period The type of insurance that provides periodic income payments to an insured who is unable to work because of sickness or injury is D...

What is investment value? - maximum the buyer would be willing to pay and the minimum the seller would be willing to accept Due to the large size of typical RE investments, investors almost always..... - pool their equity capital What are some ways to pool equity? - -General partnership -Limited partnership -C corporation -S corporation -Limited liability company (LLC) -Tenancy-in-common -REIT What are the advantages of pooling equity? - -allows investors to purchase an interest in la...

AINS 21 Practice Exam Questions and Answers Rated A+ 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 across a large number of similar exposure units within the same period The type of insurance that provides periodic income payments to an in...

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 across a large number of similar exposure units within the same period The type of insurance that provides periodic income payments to an insured who is unable to work because of sickness or injury is ...

Risk - Answer-chance of loss Peril - Answer-cause of loss (fire, wind, theft, etc) Direct Loss - Answer-the immediate result of an event caused by a covered peril Indirect Damage Loss - Answer-loss resulting from a direct loss to property (income loss expense resulting from the inability to use damaged property) Exposure - Answer-the state of being subject to risk Hazard - Answer-a condition that increased the likely occurrence of a peril or the likely severity of a loss (moral, m...

The priority of a lien is, in the absence of fraud, created as of the date it was: - Recorded "Gross income" best describes: - Income before expenses "Net income" best describes: - Income after expenses Quiet Enjoyment" in a lease means: - The lease will not be terminated if the building is sold "The rate" refers to: - The rate of return used by investors 1 section equals - 1 square mile 1 square mile equals - 640 acres 1 square yard equals - 9 sqft 1760 yards equals - 1 mile 197...

Maryland Life and Health Insurance Practice Exam Questions and Answers Graded A+ The contractual rights which allow the owner of a deferred annuity to surrender the cash value several years before the annuity date are called - Correct Answer ️️ - Nonforfeiture Options How many days does the ACA require insurers to give before rescinding coverage? - Correct Answer ️️ -30 Under an adjustable life insurance policy, these may be changed without further writing - Correct Answer ️️...

Three aspects that make health insurance important: correct answer: Adverse health events are unpredictable, high cost, and associated with reduced income "Pooling the risk" correct answer: Predicting how many people will experience adverse health events based on historical data Why were fringe benefits popular after WWII? correct answer: Giving raises to employees is taxable, but giving insurance (a fringe benefit) is not so employers started making it part of the package What is ...