Exam (elaborations)
HS 311 Fundamentals of Insurance Planning Study Guide (394 Study Questions with 100% Correct Answers)
- Course
- Institution
What is the definition of "risk"? - the possibility of loss. Types of hazards? - Physical, attitudinal (carelessness), and moral. How do insurance companies measure probabilities? - By observing large numbers (mass) of similar (homogeneous) exposures in the statistical group from which they make...
[Show more]