Risk and insur - Study guides, Class notes & Summaries

Wisconsin Casualty INSURANCE Exam 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert) A situation in which a person can experience only a loss and no gainpresents what type of risk? ANS Pure Risk 2. A tornado that destroys a property would be an example of what? ANS Peril 3. What type of authority is based on the agent's actions,or words? ANS Apparents 4. If an insurer holds a Certificate of Authority, it is know as what type ofinsurer? ANS Authorized or admitted 5. Wha...

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)

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...

C11 - Chapter 1 - Introduction to Risk and Insurance Questions & answers

LOMA 281: Module 1 Lesson 1 - Risk and Insurance complete solution

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...

©BRIGHTSTARS EXAM SOLUTIONS 11/14/2024 12:19 PM 1 | P a g e Ethics 311: Ethical Decision Making in Risk and Insurance Exam Questions With Verified Answers Morals - answerMaking distinction between right and wrong Laws - answerLegal tenants Ethics - answerKnowing what to do when a situation presents more than one "right" answer Supporting Professionalism - answer1. High Ethical Standards 2. Professional Competence 3. Sense of Altruism 4. Commitment to Continuing Education 5. P...

Personal Lines Alabama State Exam questions and answers What type of risk is insuring your home or auto? - answer-Pure risk A good definition for risk is: - answer-The chance of loss The primary insured in

1. Which of the following would not be accomplished with the purchase of an insurance policy? ANS Risk is eliminated 2. Individuals become eligible for Medicare Part A benefits at what age? ANS 65 3. At what point does a self-insured group qualify for a stop-loss coverage? ANS - When claims exceed a specified limit in a set period of time 4. What percentage of eligible employees must participate in a noncontributo- ry group health plan before it can be put in effect? ANS 100% 5. In a li...

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...