Fundamentals of insurance Study guides, Class notes & Summaries
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Fundamentals of Insurance - Self Exam Q & A (2024) Already Passed!!
![TEST BANK for Personal Finance, Canadian Edition, 5th edition by Jeff Madura and Hardeep Singh Gill. ISBN-13: 9780136662877. All Chapters 1-16.](/docpics/2791866/646cc6412e04d_2791866_121_171.jpeg)
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TEST BANK for Personal Finance, Canadian Edition, 5th edition by Jeff Madura and Hardeep Singh Gill. ISBN-13: 9780136662877. All Chapters 1-16.
- Exam (elaborations) • 469 pages • 2023
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TEST BANK for Personal Finance, Canadian Edition, 5th edition by Jeff Madura and Hardeep Singh Gill. ISBN-13: 2877. TABLE OF CONTENTS Chapter 1 - Overview of a Financial Plan Chapter 2 - Applying Time Value Concepts Chapter 3 - Planning with Personal Financial Statements Chapter 4 - Using Tax Concepts for Planning Chapter 5 - Banking Services and Managing Your Money Background on Money Management Chapter 6 - Assessing, Managing, and Securing Your Credit Background Chapter 7 - Purchasing and Fina...
Fundamentals of Insurance - Practice Exam Questions With Complete Solutions Graded A+
![Fundamentals of Insurance - Self Exam with Complete Solutions](/docpics/4079543/6587066c64fe6_4079543_121_171.jpeg)
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Fundamentals of Insurance - Self Exam with Complete Solutions
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Main purpose of Insurance - Allow the spread of risk 
Definition of Insurance - -Payment's made only when a certain peril has damaged 
the insured object 
-Payment's limited to actual amount of loss, no more and no less 
-There's no payment for losses that are deliberately caused by an insured. 
Five important points to the definition of insurance: - -Spread of Risk 
-Basis of Credit System 
-Eliminates Worry/Encourages Entrepreneurship 
-Loss Prevention and Loss Reduction 
-Source of Employm...
Fundamentals of Insurance - Practice Exam Q’s & A’s Graded A+
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Fundamentals of Insurance - Practice Exam Questions And Correct answers.
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Fundamentals of Insurance - Practice Exam Questions And Correct answers. 
 
The major function of insurance is: 
 
a. To reduce the cost of the losses 
b. To share the losses of the few among the many 
c. The safeguard the interest of mortgages 
d. To serve as a basis of existing credit system 
b. To share the losses of the few among the many 
A peril if best defined as: 
 
a. The chance of a loss 
b. The occurrence of a loss 
c. The cause of a loss 
d. The result of a loss 
c. The cause of a lo...
![HS 311 Fundamentals of Insurance Planning Study Guide (394 Study Questions with 100% Correct Answers)](/docpics/630fe0b49532e_1932216.jpg)
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HS 311 Fundamentals of Insurance Planning Study Guide (394 Study Questions with 100% Correct Answers)
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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 their estimate. 
What is the definition of "particular risk"? - Loss possibilities that affect only individuals or 
small groups of individuals at the same time 
What is the definition of "fundam...
![Fundamentals of Insurance (BC) Exam Questions and Answers 100% Correct](/docpics/4079548/658706a3a02f5_4079548_121_171.jpeg)
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Fundamentals of Insurance (BC) Exam Questions and Answers 100% Correct
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Insurance plays an important role in managing financial risk. The main purpose of 
Insurance is to: 
A. Enable the consumer to obtain loan or mortgage. 
B. Provide employment and investment capital. 
C. Allow spread of risk. 
D. Reduce losses through loss prevention and loss reduction. - C. Allow spread of 
risk. 
When the insurer terminates an insurance policy, ALL of the following conditions apply, 
EXCEPT one. Pick the exception: 
A. The insured is entitled to 15 days' written notice of term...
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Fundamentals of Insurance (BC) Questions with 100% Correct Answers | Latest Version 2024 | Verified
- Exam (elaborations) • 36 pages • 2024
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Insurance plays an important role in managing financial risk. The main purpose of Insurance is to: 
A. Enable the consumer to obtain loan or mortgage. 
B. Provide employment and investment capital. 
C. Allow spread of risk. 
D. Reduce losses through loss prevention and loss reduction. - C. Allow spread of risk. 
When the insurer terminates an insurance policy, ALL of the following conditions apply, EXCEPT one. Pick 
the exception: 
A. The insured is entitled to 15 days' written notice of termin...
![Fundamentals Of Insurance (BC) Exam Questions and Answers 100% Correct](/docpics/3852261/655705342c1c4_3852261_121_171.jpeg)
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Fundamentals Of Insurance (BC) Exam Questions and Answers 100% Correct
- Exam (elaborations) • 28 pages • 2023
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Fundamentals Of Insurance (BC) Exam Questions and Answers 100% CorrectFundamentals Of Insurance (BC) Exam Questions and Answers 100% CorrectFundamentals Of Insurance (BC) Exam Questions and Answers 100% CorrectInsurance plays an important role in managing financial risk. The main purpose of Insurance is to: 
 
 A. Enable the consumer to obtain loan or mortgage. 
 B. Provide employment and investment capital. 
 C. Allow spread of risk. 
 D. Reduce losses through loss prevention and loss reduction...
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