Ains 21 segment a - Study guides, Class notes & Summaries

AINS 21 Segment A (ch 1-3) Latest 2024 Rated A+ Loss exposure Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Risk management The process of making and implementing decisions that will minimize the adverse effects of accidental losses on an organization Loss prevention A risk control technique that reduces the frequency of a particular loss Loss reduction A risk control technique that reduces the severity of a particular loss ...

Loss exposure Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Risk management The process of making and implementing decisions that will minimize the adverse effects of accidental losses on an organization Loss prevention A risk control technique that reduces the frequency of a particular loss Loss reduction A risk control technique that reduces the severity of a particular loss Exposure unit A fundamental measure of the loss exposure as...

AINS 21 Segment A | 124 Questions and Answers 100% Verified 4 roles of insurance - 1. risk management technique transfer system business contract loss exposure - any condition or situation that presents a possibility of loss, whether or not actual loss occurs risk management - making and implementing decisions that will minimize the adverse effects of accidental losses on an organization -avoid, prevent, reduce -from RM standpoint, insurance is used to transfer cost of losse...

AINS 21 Segment A | 124 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ 4 roles of insurance - 1. risk management technique 2. transfer system 3. business 4. contract loss exposure - any condition or situation that presents a possibility of loss, whether or not actual loss occurs risk management - making and implementing decisions that will minimize the adverse effects of accidental losses on an organization -avoid, prevent, reduce -from RM standpoint, insurance i...

AINS 21 Segment A (ch 1-3) Questions and Answers 2024 / 2025 (Verified Answers by Expert)

AINS 21 Segment A | 124 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ 4 roles of insurance - 1. risk management technique 2. transfer system 3. business 4. contract loss exposure - any condition or situation that presents a possibility of loss, whether or not actual loss occurs risk management - making and implementing decisions that will minimize the adverse effects of accidental losses on an organization -avoid, prevent, reduce -from RM standpoint, insuranc...

AINS 21 Segment A (ch 1-3) Study Guide.

AINS 21 Segment A (ch 1-3) | 92 Questions and Answers 100% Solved Loss exposure - Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Risk management - The process of making and implementing decisions that will minimize the adverse effects of accidental losses on an organization Loss prevention - A risk control technique that reduces the frequency of a particular loss Loss reduction - A risk control technique that reduces the severity...

4 roles of insurance - 1. risk management technique 2. transfer system 3. business 4. contract loss exposure - any condition or situation that presents a possibility of loss, whether or not actual loss occurs risk management - making and implementing decisions that will minimize the adverse effects of accidental losses on an organization -avoid, prevent, reduce -from RM standpoint, insurance is used to transfer cost of losses loss prevention - reduces frequency of loss -ex. wearing sa...

AINS 21 Segment A | 70 Questions and Answers 100% Solved Though premiums are an obvious cost of insurance, many insureds believe they are too high because - Benefits are intangible until a loss occurs. Pravalt Construction Company pays less than its competitors for workers compensation insurance because Pravalt has had substantially fewer employee injuries than other firms in its class. This illustrates which one of the following benefits of insurance? - Promote risk control Which...