A morale hazard - Study guides, Class notes & Summaries

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...

RMIN 4000 Exam 1 Brown Study Guide Solutions Textbook definition of RISK - ANSWER-Uncertainty concerning the occurrence of a loss Better definition of RISK - ANSWER-A calculated possibility of a negative outcome Calculated Possibility - ANSWER-0 = Impossible event (NO RISK) 0.5 = Highest Risk (Most Uncertainty) 1 = 100% Certain Event (NO RISK Negative Outcome - ANSWER-Loss Losses must be __________? - ANSWER-Quantifiable Pure Risk States - ANSWER-Loss or Copyright ©EMILYCHARLENE2025...

Hazard - Answer-A condition or conditions that increases the probability of a loss Physical Hazard - Answer-A physical condition or situation that increases the possibility of loss (outdated or frayed wiring in a factory) Moral Hazard - Answer-Intentional acts committed by the insured that either create or exaggerate a loss and is measured by the character of the insured and the circumstances surrounding the subject of the insurance Morale Hazard - Answer-Implies an indifference to loss...

Specific insurance - ANSWERSThis type of insurance designates a particular item to be insured Blanket insurance - ANSWERSThis type of insurance covers more than one item of property at a single location or one more items of property at multiple locations. Speculative - ANSWERSpossibility of both gain and loss. Not insurable. Pure - ANSWERSonly the possibility of loss. Insurable. What are the 5 methods of managing or handling risk? - ANSWERSavoid, control, retain, and transfer risk. ...

SC Personal Lines Questions and Answers Graded A+ 6 loss valuation methods actual cash value, replacement value, functional replacement value, market value, stated amount, agreed value waiver & estoppel a person has given up a known or legal right 4 components of a legal contract agreement, consideration, competent parties, legal purpose 6 classes of insurers authorized(admitted), unauthorized(nonadmitted), domestic, foreign, alien, independent rating services 5 marketing dis...

Risk correct answers Any uncertainty regarding financial loss Pure Risk correct answers situation in which there is only the possibility of loss and no loss speculative risk correct answers situation where profit, loss, or no loss is possible static risk correct answers risk that does not change over time dynamic risk correct answers risk that changes over time; especially with technology objective risk correct answers relative variation of actual loss from expected loss subjec...

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...

Property and Casualty Insurance Test Questions and Answers 100% Pass What is a peril? A Peril is a cause of loss What is a hazard? Something that increases the chance of a loss What is the difference between a Moral hazard and a Morale Hazard? Moral Hazard - dishonesty, against the law Morale Hazard - carelessness What is the method of handling risk that involves a deductible? Retention (loss or portion of loss) If a fire causes damage to a building, what is the fire considere...

TEST BANK Stanhope and Lancaster's Community Health Nursing in Canada Sandra A. MacDonald, and Sonya L. Jakubec 4th Edition extra per year? Table of Contents Chapter 01 Community Health Nursing 1 Chapter 02 The Evolution of Community Health Nursing in Canada 8 Chapter 03 Community Health Nursing in Canada-Settings, Functions, and Roles 13 Chapter 04 Health Promotion 24 Chapter 05 Evidence-Informed Practice in Community Health Nursing 30 Chapter 06 Ethics in Community Health Nursing Practice 3...

risk avoidance - ANSWER occurs when individuals evade risk entirely risk reduction - ANSWER occurs when chances of risk are lessened risk retention - ANSWER is being aware of the risks involved and taking precautions for financial protection. risk transference - ANSWER is the act of shifting the responsibility of risk to another in the form of an insurance contract. physical - ANSWER A bodily disease of endangerment, such as cancer, presents a _____ hazard. morale - ANSWER A menta...