Indifference - Study guides, Class notes & Summaries

Perils correct answer: the cause of loss Policy Owner correct answer: the person who has the rights and privileges in the policy Risk correct answer: Uncertainty or chance of loss -Pure Risk(Insurable) -Speculative(Uninsurable) Insured correct answer: the person covered by the insurance policy insurer correct answer: a company that issues an insurance policy Law of large numbers correct answer: the larger the number of people with the same exposure to loss, the more predic...

TB1 Module 1 : Multiple Choice Copyright Macmillan Learning. Powered by Cognero. Page 1 1. Which of the following is an evidence-based method that draws on observation and experimentation? a. critical thinking b. structuralism c. empirical approach d. humanistic psychology ANSWER: c 2. The empirical approach draws on a. observation. b. experimentation. c. both observation and experimentation. d. neither observation nor experimentation. ANSWER: c 3. Professor Thomas uses scientific ...

USAA P&C Insurance Adjuster EXAM QUESTIONS CORRECTLY ANSWERED Perils - ANSWER Causes of loss identified in the policy (Fire, lightening, internal explosion ,Wind, Hail, Collision) Hazard - ANSWER Condition that create or increases the chance or loss or contributes to the loss Physical Hazard - ANSWER Visible ( operational features of a risk) Moral Hazard - ANSWER Intentional dishonesty or illegal actions of a person (arson) Morale Hazard - ANSWER Carelessness or indifference ( attitud...

D187 Task 2 PASSED Task 2- Analyzing Students’ Individual Differences Differentiated Instruction I (Western Governors University)

Analyzing Students’ Individual Differences MSCIN Program, Western Governors University D187: Differentiated Instruction (ONM1)

This is a comprehensive and detailed note on Indifference curves and budget lines in a traditional framework. Quality stuff!! U'll need it!!

Insurance - Transfer of risk from one person or organization to an insurance company Indemnity - The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty insurance Binder - Temporary insurance contr...

ONM1 TASK 2 - ONM1 TASK 2: ANALYZING STUDENTS’ INDIVIDUAL DIFFERENCES Differentiated Instruction I (Western Governors University)

Primerica Pre-licensing Course Solved Exam |Question and Answers| 100% Correct agent *Ans* legal representative of an insurance company; the classification of producer usually includes agents and brokers; agents are the agents of the insurer insured *Ans* the person covered by the insurance policy; this person may or may not be the policyowner broker *Ans* an insurance agent not appointed by an insurer and is deemed to represent the client insurance policy *Ans* a contract between ...

Commercial Lines 101 CE Questions and Answers 2024 Insurer - Answer -The insurance company Named Insured/Insured - Answer -The policyholder Financial Definition of Insurance - Answer -A financial agreement involving the redistribution of financial losses Legal Definition of Insurance - Answer -A contractual agreement in which one party (the insurer) agrees to compensate or indemnify another party (the insured) for fortuitous losses Loss Pooling - Answer -the sharing of total losses susta...