Insurance webce exam 2024 with 100% complete solutions
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Course
Insurance webce
Institution
Insurance Webce
risk correct answersChance of loss
Pure risk correct answersIf it's pure you can insure
Speculative riak correct answersLoss or gain
peril correct answersThe cause of loss
Life insurance peril correct answersDeath
Health insurance peril correct answersIllness, accidental injury, disa...
Insurance webce
risk correct answersChance of loss
Pure risk correct answersIf it's pure you can insure
Speculative riak correct answersLoss or gain
peril correct answersThe cause of loss
Life insurance peril correct answersDeath
Health insurance peril correct answersIllness, accidental injury, disability
hazard correct answersIncreases chance of peril
Risk Transfer correct answersshifting risk to another party
Underwriting correct answersAssessing an applicant
Law of Large Numbers correct answersMathematical principle of probability
Moral Hazard correct answersTendencies that increase risk
Morale Hazard correct answersAttitude or state of mind
Physical Hazard correct answersCharacteristics that increase risk Risk Avoidance correct answersStrategy to deal with risk
Risk Reduction correct answersReduce exposure to risk
Risk Retention correct answersChoosing to use existing assets to pay for loss
Deductibles correct answersA stated sun of money that the insured must pay
risk sharing correct answersAllocating ownership of a part of the risk to another party
Risk Transfer correct answersTransferring risk to a third party
insurable risk correct answersIf he or she meets certain criteria
mortality correct answersDeath
Morbidity correct answersIlness
Adverse selecton correct answersThe tendency of persons at greater risk of loss to seek out and maintain
insurance
Loss Exposure correct answersThe extent to which an insurer is subject to a possible loss
Commercial Insurance companies correct answersStock & mutual insurance companies
Stock Insurance Company correct answersA type of insurance company owned by stockholders.
Mutual Insurance Company correct answersA type of insurance company owned by its policyholders.
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