Ls 311 - Study guides, Class notes & Summaries

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HS 311 Fundamentals of Insurance Planning

What is the definition of "risk"? the possibility of loss. Types of hazards? Physical, attitudinal (carelessness), and moral. How do insurance companies measure probabilities? By observing large numbers (mass) of similar (homogeneous) exposures in the statistical group from which they make their estimate. What is the definition of "particular risk"? Loss possibilities that affect only individuals or small groups of individuals at the same time What is the definition of "fundamental ri...

HS 311 Fundamentals of Insurance Planning Study Guide Questions and Verified Solutions Latest Update What is the definition of "risk"? - Answer -the possibility of loss. Types of hazards? - Answer -Physical, attitudinal (carelessness), and moral. How do insurance companies measure probabilities? - Answer -By observing large numbers (mass) of similar (homogeneous) exposures in the statistical group from which they make their estimate. What is the definition of "particular risk"? - Answ...

HS 311 Fundamentals of Insurance Planning HS 311 Fundamentals of Insurance Planning HS 311 Fundamentals of Insurance Planning

HS 311 Fundamentals of Insurance Planning study set |Questions with 100% Correct Answers | Verified | Latest Update 2024 Graded A+

HS 311 Fundamentals of Insurance Planning - Questions And Answers

a priori reasoning reasoning with conclusions that are based on self-evident propositions (also known as deductive reasoning). One can reason a priori that the probability of a result of tails in the flip of a coin is one in two. AAIS (American Association of Insurance Services) an advisory organization that provides various services to its member companies, including the development and filing of standardized property and liability insurance forms accelerated benefits provision a provisio...

HS 311 Fundamentals of Insurance Planning study set |Questions with 100% Correct Answers | Verified | Latest Update 2024 Graded A+

What is the definition of "risk"? - the possibility of loss. Types of hazards? - Physical, attitudinal (carelessness), and moral. How do insurance companies measure probabilities? - By observing large numbers (mass) of similar (homogeneous) exposures in the statistical group from which they make their estimate. What is the definition of "particular risk"? - Loss possibilities that affect only individuals or small groups of individuals at the same time What is the definition of "fundam...