A morale hazard - Study guides, Class notes & Summaries

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...

NC Health Insurance Exam Pearson Vue Latest Graded A+ Pure Risk chance of loss or no loss but not gain insurable Speculative Risk there is possibility of loss but of gain no insurablility exposure unit subject to loss peril cause of loss life insurance death Health insurance accident and sickness hazard increases the likelihood or severity of loss Three types of hazard physical, moral, morale physical hazard arise from the inherent characteristi...

This type of insurance pays when an insured has died to offset the economic loss to dependents. A) life B) health C) annuity D) property and casualty - Life Insurance An insurance _________ is the device used by insurance companies to accumulate funds to meet uncertain losses. - Policy Insurance companies aggregate (collect) premiums to make claims payments - the aggregating of premiums to pay claims is called _____ ___________. - Risk Pooling The more _______ units an insurance company h...

Life Insurance - This type of insurance pays when an insured has died to offset the economic loss to dependents. A) life B) health C) annuity D) property and casualty Policy - An insurance _________ is the device used by insurance companies to accumulate funds to meet uncertain losses. Risk Pooling - Insurance companies aggregate (collect) premiums to make claims payments - the aggregating of premiums to pay claims is called _____ ___________. Exposure Units - The more _______ units an in...

CSST Practice (Pacific EH&S) Questions and Answers Already Passed What is the importance of proper waste disposal in construction? Proper waste disposal in construction is important to prevent environmental contamination and comply with regulations regarding hazardous materials. How can team morale impact workplace safety? High team morale can enhance workplace safety by fostering a culture of communication and shared responsibility for safety practices among employees. What are ...

WebCE Property & Casualty Prep Exam Questions and Answers 2023 Risk Chance of loss 5 Risk or Loss Factors 1. Risk 2. Loss 3. Exposure 4. Peril 5. Hazard Insurance allows: Individual or group to transfer over to insurance company the risk of financial loss from a destructive event Fundamental purpose of insurance is: To indemnify policyholder against covered losses or restore policyholder back to same financial position they were in before Insurance companies may ...

RMIN 4000 Exam 1 Brown Latest Update Graded A+ Textbook definition of RISK Uncertainty concerning the occurrence of a loss Better definition of RISK A calculated possibility of a negative outcome Calculated Possibility 0 = Impossible event (NO RISK) 0.5 = Highest Risk (Most Uncertainty) 1 = 100% Certain Event (NO RISK Negative Outcome Loss Losses must be __________? Quantifiable Pure Risk States Loss or No Loss Examples of Pure Risks Fire, Cancer, Dog bites a ...

Insurance - Answer-transfer of risk Speculative risk - Answer-has a possibility of both loss and gain Pure risk - Answer-only has a possibility of loss (no gain) Exposure - Answer-risks for which an insurance company would be liable expressed in units Peril - Answer-cause of a loss Hazard - Answer-an increase in the chance of loss Moral hazard - Answer-arise from people's character (faking a loss) Morale hazard - Answer-state of mind or careless attitude (accidentally le...

CA Life and Health Exam Questions and Answers Already Passed What is insurance? Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. What's the difference between pure risk and speculative risk? Pure risk is when you'll lose it all or there will be no change. Speculative risk you can either win or lose. What is peril? peril is the causes of loss insured against in an insurance policy What is hazard? conditions that increase the pr...

Texas Property & Casualty Insurance Exam Questions And Answers A condition or situation that presents a possibility of loss is a (an): - ANS exposure The purpose of insurance is to: - ANS transfer risk Which hazard can be described as a careless attitude or general indifference on the part of the insured toward the occurrence of loss? - ANS morale Which risk is insurable? - ANS pure With regard to insurance, risk can be defined as: - ANS uncertainty regarding los...