Reinsurers - Study guides, Class notes & Summaries

RSK4803 Assignment 3 (COMPLETE ANSWERS) 2024 - DUE 7 October 2024 ; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App 0.6.7-1.7.1-1.7.3.9. Ensure your success with us.. Question 1 22 marks 1.1 In a management meeting, it was decided that the company needs to establish the risk management function. However, there were different views about the main objective of risk management. Choose the correct view about the responsibility of risk management. (2) a. The c...

C16 THE BUSINESS OF INSURANCE EXAM QUESTIONS AND CORRECT ANSWERS 2024/2025 GRADED A+. 2 / 24 1. List the two fundamental principles of insurance.: 1.The premiums of themany are used to pay the losses of the few. 2. The premiums shall be commensurate with the risk. -Insurance fulfils a societal need -Provides consumers with financial security for particular types of accidental losses.Also underpins the economy facilitating economic growth and societal development -Insurance is the prom...

California Insurance Exam Questions And Answers Two methods of determining insurance need: - Human Life Approach - Needs Approach Human Life Value Approach~ - One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will suffer if the insured person were to pass away today - 10X salary - Based on age, gender, planned retirement age, occupation, annual wa...

California Insurance Exam (2024) || With Complete Questions & Answers (Rated A+) California Insurance Exam (2024) || With Complete Questions & Answers (Rated A+) Two methods of determining insurance need: - ANSWER - - Human Life Approach - Needs Approach Human Life Value Approach~ - ANSWER - - One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will su...

California Insurance Exam Questions and Answers 100% Pass Two methods of determining insurance need: - Correct Answer ️️ -- Human Life Approach - Needs Approach Human Life Value Approach~ - Correct Answer ️️ -- One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will suffer if the insured person were to pass away today - 10X salary - Based on ...

List the 2 fundamental principles of insurance? : - premiums of the many used to pay losses of few - premium shall be commensurate with the risk Why would an insurer spread risks over divers geographical areas? : - soften the burden of localized disasters on insurers What is a risk pool? : - syndicates of insurance or reinsurance companies that have organized to underwrite a particular risk or group of similar risks - to share and spread risk between insurers and reinsurers Explain the...

Sally is considering her Medicare options. She understands that to enroll in Medicare Part B, she will have to pay a monthly premium. Since she is healthy, she is considering delaying her enrollment until later. Will she be able to enroll at a later date? 1.Yes, she can enroll at anytime in the future 2.Yes, however; she would have a permanent premium penalty when she does enroll 3.No, this is a take or leave it situation 4.Yes, but she would have to show evidence of good health. - Answer-...

California Insurance Exam Questions and Answers 100% Pass Two methods of determining insurance need: - Correct Answer ️️ -- Human Life Approach - Needs Approach Human Life Value Approach~ - Correct Answer ️️ -- One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will suffer if the insured person were to pass away today - 10X salary - Based on ...

California Insurance Exam Questions and Answers 100% Pass, Latest Update Two methods of determining insurance need: -Ans - Human Life Approach - Needs Approach Human Life Value Approach~ -Ans - One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will suffer if the insured person were to pass away today - 10X salary - Based on age, gender, planned retirement ag...

California Insurance Exam Questions and Answers 100% Pass Two methods of determining insurance need: - Correct Answer ️️ -- Human Life Approach - Needs Approach Human Life Value Approach~ - Correct Answer ️️ -- One of two ways of calculating insurance need. - By discounting estimated future income - Calculating the amount of life insurance a family will need based on the financial loss that they will suffer if the insured person were to pass away today - 10X salary - Based on ...