LOMA 281 Module 1 Exam Questions and Answers
LOMA 281 Module 1 Exam Questions and Answers
LOMA 281 Module 1 Exam Questions and Answers
LOMA 281 Module 1 Exam Questions and Answers
LOMA 281 Module 1 Exam Questions and Answers
LOMA 281 Module 1 Exam Questions and Answers
LOMA 281 Module 1 Exam ...
13. Contracts of indemnity: Health insurance; An insurance policy under which the
amount of the policy benefit payable for a covered loss is based on the actual amount
of financial loss that results from the loss, as determined at the time of the loss.
14. Valued contract: Life insurance; An insurance policy that specifies the amount
of the policy benefit that will be payable when a covered loss occurs, regardless of
the actual amount of the loss the was incurred.
15. Face amount: the amount of the policy benefit listed on the first page of a
lifeinsurance policy.
16. Law of large numbers: A theory of probability which states that, typically, the
more times we observe a particular event, the more likely it is that our observed
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