Aflac life insurance Study guides, Class notes & Summaries

Uses of Life Insurance - -Insured pays premium to company and in return, company assumes risk of that person dying prematurely -premium (small certain loss) is exchanged for a large uncertain loss -spreading risk of premature death among a large group Life insurance has value like property: -valuable part of individuals estate, providing immediate cash to pay debts and financial security to insured's survivors -cash value of life insurance policy can be used as collateral to secure a loa...

Exam 4 RMI 3567 Questions and Answers 100% Correct conventional insurance - Correct Answer ️️ -considered haram as it contractually contains haram elements: riba, gharar, maysir riba - Correct Answer ️️ -no equality between premiums paid and compensation received riba - Correct Answer ️️ -"interest" / usury gharar - Correct Answer ️️ -subject matter of the contract is not certain / uncertainty maysir - Correct Answer ️️ -Policyholders are held to be betting premiums ...

Washington Life/Health Insurance Exam | 100% Verified with complete solution policy owner - usually, but not always the person covered by the policy beneficiary - the person who is paid when a claim is submitted agent/producer - acts as a legal representative of the insurance company broker - representative of the Insured, not the insurance company risk - The chance or uncertainty of loss Pure risk - the chance of experiencing a loss (without the possibility of gain). Only down...

PHR/SPHR Human Resources Exam 120 Questions with Verified Answers HR participates in the strategic planning process by which of the following? - CORRECT ANSWER C. Providing expertise Restructuring is used to do which of the following? - CORRECT ANSWER A. Remove redundant operations A statement that describes what an organization does that is different from others is a: - CORRECT ANSWER D. Mission statement Which of the following options is one characteristic of an organization during...

PHR/SPHR Human Resources Exam 120 Questions with Verified Answers HR participates in the strategic planning process by which of the following? - CORRECT ANSWER C. Providing expertise Restructuring is used to do which of the following? - CORRECT ANSWER A. Remove redundant operations A statement that describes what an organization does that is different from others is a: - CORRECT ANSWER D. Mission statement Which of the following options is one characteristic of an organization during...