Risk and insur - Study guides, Class notes & Summaries

LOMA 281: Module 1 Lesson 1 - Risk and Insurance Comprehensive Exam || Questions & Answers (Graded A) LOMA 281: Module 1 Lesson 1 - Risk and Insurance Comprehensive Exam || Questions & Answers (Graded A) LOMA 281: Module 1 Lesson 1 - Risk and Insurance Comprehensive Exam || Questions & Answers (Graded A)

LOMA 281: Module 1 Lesson 1 - Risk and Insurance Comprehensive Exam || Questions & Answers (Graded A+) LOMA 281: Module 1 Lesson 1 - Risk and Insurance Comprehensive Exam || Questions & Answers (Graded A+) Risk - ANSWER - the possibility of an unexpected result. Premium - ANSWER - A specified amount of money an insurer charges in exchange for its agreement to pay a policy benefit when a specific loss occurs. Insurance company - ANSWER - A company that provides protection against the ri...

Risk The Possibility of an unexpected result; could be a loss or gain Speculative Risk 3 possible outcomes: Loss, gain, or no change ex. buying stock Pure Risk No possibility of a gain ex. people dying after they buy stock Is speculative or pure risk insured? Only pure risk Steve is too nervous about losing money in the stock market, so he doesnt invest in stocks. This is an example of Avoiding Risk Mark uses a laptop computer in his business. If he loses the laptop or accidentally damage...

Fundamentals of Risk and Insurance 11th Edition By Emmett Vaughan, Therese Vaughan (Instructor Manual) Fundamentals of Risk and Insurance 11th Edition By Emmett Vaughan, Therese Vaughan (Instructor Manual)

Fundamentals of Risk and Insurance 11th Edition By Emmett Vaughan, Therese Vaughan (Test Bank) Fundamentals of Risk and Insurance 11th Edition By Emmett Vaughan, Therese Vaughan (Test Bank)

Risk and Insurance chapter 6 Questions And Answers 2023/2024 1) The function of an actuary is to A) adjust claims. B) determine premium rates. C) negotiate reinsurance treaties. D) invest insurance company assets. - ANSWER B 2) Insurers obtain data which can be used to determine rates from A) pricing pools. B) insurance advisory organizations. C) banks. D) reciprocal exchanges. - ANSWER B 3) Which of the following statements about underwriting policy is (are) true? I. A company...

AIDA 182 (Latest 2023/ 2024 Update) Risk and Insurance Analysis Techniques Exam | Questions and Verified Answers| 100% Correct| Grade A percentage method (IBNR) - ANS-uses historical relationships between IBNR reserves and reported losses to develop percentages that are used in IBNR forecasts loss triangle method (IBNR) - ANS-uses historical loss data to calculate loss development factors to estimate IBNR reserves allocated loss adjustment expense (ALAE) - ANS-The expense an ...

CEBS - GBA Practice Exam 1 Questions and Answers 1. Which of the following statements correctly describes minimum require- ments that group benefit plans typically must meet in order to be prospec- tively rated on contract renewal?: The more unpredictable the event that will trigger a claim, the larger the minimum group size and premium requirements 2. Which of the following statements correctly describes the term graduation as it applies to mortality tables?: It is a mathematica...

ETHICS 311 Ethical Decision Making in Risk and Insurance test questions and answers