Loma 281 2024 exam - Study guides, Class notes & Summaries
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LOMA 281 2024 Exam Questions and Answers All Correct
- Exam (elaborations) • 4 pages • 2024
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LOMA 281 2024 Exam Questions and 
Answers All Correct 
 
What are speculative risks? - Answer-Risks that involve three outcomes: loss, gain, or 
no change 
What are pure risks? - Answer-Risks that involve no possibility of gain 
What risks are insurable? - Answer-Only pure risks 
Speculative risks involve the possibility of gain so they cannot be insured 
What is a retention limit? - Answer-The maximum amount of risk the insurer is willing to 
carry at its own risk 
What is a commutative contrac...
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LOMA 281 MODULE 1 EXAM 2024 WITH 100% CORRECT ANSWERS
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LOMA 281 MODULE 1 EXAM 2024 WITH 100% CORRECT ANSWERS 
 
 
Risk - correct answer the possibility of an unexpected result. 
 
Premium - correct answer A specified amount of money an insurer charges in exchange for its agreement to pay a policy benefit when a specific loss occurs. 
 
Insurance company - correct answer A company that provides protection against the risk of financial loss caused by specific events. 
 
Life insurance - correct answer A type of insurance under which the insurer promis...
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LOMA 281 Module 1 Exam Questions and Answers (Latest Update 2024)
- Exam (elaborations) • 16 pages • 2024
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LOMA 281 Module 1 Exam Questions and Answers (Latest Update 2024)
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LOMA 281 2024 Exam Questions and Answers All Correct
- Exam (elaborations) • 4 pages • 2024
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LOMA 281 2024 Exam Questions and 
Answers All Correct 
 
What are speculative risks? - Answer-Risks that involve three outcomes: loss, gain, or 
no change 
What are pure risks? - Answer-Risks that involve no possibility of gain 
What risks are insurable? - Answer-Only pure risks 
Speculative risks involve the possibility of gain so they cannot be insured 
What is a retention limit? - Answer-The maximum amount of risk the insurer is willing to 
carry at its own risk 
What is a commutative contrac...
-
LOMA 281 Module 2 Exam Questions and Answers (verified Answers) New 2024
- Exam (elaborations) • 13 pages • 2024
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LOMA 281 Module 2 Exam Questions and Answers (verified Answers) New 2024
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LOMA 281 Module 3 Exam 2024
- Exam (elaborations) • 9 pages • 2024
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LOMA 281 Module 3 Exam 2024...
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LOMA 291 Module 1&2 Exam Package deal Latest 2024
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LOMA 311 Module 2 Practice Exam Questions and Answers (Latest Update 2024-2025)

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LOMA 291 Module 1 Exam Questions and Answers (verified Answers)

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LOMA 281 Module 2 Exam Questions and Answers (verified Answers) New 2024

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LOMA 281 Module 1 Exam Questions and Answers (Latest Update 2024
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LOMA 281 Module 2 exam 2023/2024 verified 100% correct answers
- Exam (elaborations) • 36 pages • 2023
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LOMA 281 Module 2 exam 2023/2024 verified 100% correct answers
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LOMA 281: MODULE 1 LESSON 1 EXAM 2024
- Exam (elaborations) • 2 pages • 2024
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LOMA 281: MODULE 1 LESSON 1 EXAM 2024 
 
 
Risk - correct answer the possibility of an unexpected loss 
 
speculative risk - correct answer can result in a gain, a loss 
 
four risk management techniques - correct answer avoid the risk 
control the risk 
accept the risk 
transfer the risk 
 
Two basic types of life insurance product - correct answer life insurance: the insurer promises to pay a death benefit when a a named person dies 
 
Annuity: in return for recv a premium, an insurer promise...
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LOMA 281 Bundle Exams |Modules 1-4 | Exam Questions with Correct Answers 100% Solved 2024/2025
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LOMA 281 Module 1 Study Guide Exam Questions with Answers 100% Verified 2024

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LOMA 281 Module 2 Study Exam Questions with Correct Answers 100% Solved

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LOMA 281 Module 3 Study Exam Questions and Answers 2024/2025 Latest Update 100% Solved

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LOMA 281 Module 4 Study Exam Questions with C
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