Utah Health Insurance Exam Questions and Correct Answers | Latest Update
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Course
Utah Health Insurance
Institution
Utah Health Insurance
Insurance
-:- Transfer of risk.
Types of risk
-:- Pure and Speculative
Pure Risk
-:- A chance of loss or no loss, but no chance of gain. The ONLY type
of insurable risk.
Speculative Risk
-:- Chance of loss or gain. CANNOT be insured. (Example: Buying stock
in the stock market)
Types...
-Large loss exposure (large pool of randomly selected people/risks)
Adverse Selection
✓ -:- Tendency for poorer than average risks to seek insurance.
Reinsurance
✓ -:- Insurance purchased by other Insurer(s) to spread or diversify risk;
promotes industry stability.
Ceding Insurer
✓ -:- The company transferring risk in a reinsurance arrangement.
assuming insurer
✓ -:- reinsurer or company who is taking over the risk
Stock Companies
4|P a g e | G r a d e A + | 2 0 2 0 2 5
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