A moral hazard - Study guides, Class notes & Summaries
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WebCE Property & Casualty Prep Exam Questions and Answers 2023
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WebCE Property & Casualty Prep Exam Questions and Answers 2023 
Risk 
Chance of loss 
 
 
 
5 Risk or Loss Factors 
1. Risk 2. Loss 3. Exposure 4. Peril 5. Hazard 
 
 
 
Insurance allows: 
Individual or group to transfer over to insurance company the risk of financial loss from a destructive event 
 
 
 
Fundamental purpose of insurance is: 
To indemnify policyholder against covered losses or restore policyholder back to same financial position they were in before 
 
 
 
Insurance companies may ...
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RMIN 4000 UGA Test 1. Chapters 1-3 Questions and Answers Already Passed
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RMIN 4000 UGA Test 1. Chapters 1-3 
Questions and Answers Already Passed 
 
1) Traditionally, risk has been defined as 
A) any situation in which the probability of loss is one. 
B) any situation in which the probability of loss is zero. 
C) uncertainty concerning the occurrence of loss. 
D) the probability of a loss occurring. C 
 
2) Objective risk is defined as 
A) the probability of loss. 
B) the relative variation of actual loss from expected loss. 
C) uncertainty based on a person's menta...
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CALIFORNIA Life, Accident and Health Final Exam Questions and Answers 100% Verified
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CALIFORNIA Life, Accident and Health Final Exam Questions and Answers 100% VerifiedCALIFORNIA Life, Accident and Health Final Exam Questions and Answers 100% VerifiedCALIFORNIA Life, Accident and Health Final Exam Questions and Answers 100% Verified 
 
A moral hazard - ANSWER-is a dishonest person (lacking in morals) 
 
A morale hazard - ANSWER-a careless person. 
 
A peril - ANSWER-is a cause of loss 
 
Pure risk - ANSWER-is insurable & includes only a chance of loss.
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RMIN 4000 Exam 1 Brown Latest Update Graded A+
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RMIN 4000 Exam 1 Brown Latest Update 
 
Graded A+ 
 
Textbook definition of RISK Uncertainty concerning the occurrence of a loss 
 
Better definition of RISK A calculated possibility of a negative outcome 
 
Calculated Possibility 0 = Impossible event (NO RISK) 
 
0.5 = Highest Risk (Most Uncertainty) 
 
1 = 100% Certain Event (NO RISK 
 
Negative Outcome Loss 
 
Losses must be __________? Quantifiable 
 
Pure Risk States Loss 
 
or 
 
No Loss 
 
Examples of Pure Risks Fire, Cancer, Dog bites a ...
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CIB PROPERTY AND CASUALTY PREP
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Risk - Answer-chance of loss 
 
Peril - Answer-cause of loss (fire, wind, theft, etc) 
 
Direct Loss - Answer-the immediate result of an event caused by a covered peril 
 
Indirect Damage Loss - Answer-loss resulting from a direct loss to property (income loss expense resulting from the inability to use damaged property) 
 
Exposure - Answer-the state of being subject to risk 
 
Hazard - Answer-a condition that increased the likely occurrence of a peril or the likely severity of a loss (moral, m...
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WebCE Exam Questions with correct Answers
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Indirect Loss - Answer- A secondary loss that follows from a direct loss to insured property from a covered peril. 
Ex. Hotel expenses incurred by the insured while a fire-damaged home is repaired is an indirect loss that follows the direct loss of the home. 
 
Exclusive Agency System - Answer- An insurance distribution system in which producers (agents) represent a single company. 
Ex. In the exclusive agency system, insurers use independent contractors (exclusive agents) that represent only on...
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NC Health Insurance Exam Pearson Vue Latest Graded A+
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NC Health Insurance Exam Pearson Vue Latest Graded A+ 
Pure Risk 
chance of loss or no loss but not gain insurable 
 
 
Speculative Risk 
there is possibility of loss but of gain no insurablility 
 
 
exposure unit 
subject to loss 
 
 
peril 
cause of loss 
 
 
life insurance 
death 
 
 
Health insurance 
accident and sickness 
 
 
hazard 
increases the likelihood or severity of loss 
 
 
Three types of hazard 
physical, moral, morale 
 
 
physical hazard 
arise from the inherent characteristi...
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RMIN 4000- Exam 1 Latest Update 100% Solved
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RMIN 4000- Exam 1 Latest Update 100% 
 
Solved 
 
things of value (assets) that could be lost Exposures 
 
Examples of exposures when driving car: Car 
health 
life 
 
money 
future income 
contents (stuff) 
freedom 
license 
 
things that could happen to these assets Perils 
 
Examples of perils when driving car: Car accident 
 
license revoked 
act of god 
 
breakdown 
 
vandalism 
maintenance 
theft 
lawsuit 
 
what you do to protect these assets and/ or prevent/ reduce losses risk management...
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WGU C425 Final Exam Questions With 100% Verified Answers | Latest Update 2023/2024 |
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WGU C425 Final Exam Questions With 100% Verified Answers | Latest Update 2023/2024. What Is Health? - ANSWER--U.S. health care has followed a medical/biomedical model. 
- It assumes illness or disease thereby emphasizing clinical diagnosis and medical in 
the treatment of disease or its symptoms. 
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It emphasizes 
• Clinical diagnosis and medical interventions to: 
- Treat disease or its symptoms. 
- Have a clinical diagnosis and medical interventions. 
Largely governed by the medical model/...
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NCLEX-PN NGN EXAM Quiz Bank Latest Update 2023/2024 Questions & Answers with Rationales
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NCLEX-PN NGN EXAM 2023/2024 
 
Question No : 1 - 
Teaching the client with gonorrhea how to prevent reinfection and further spread is an example of: 
 
A.	primary prevention. 
B.	secondary prevention. 
C.	tertiary prevention. 
D.	primary health care prevention. 
 
Answer: B Explanation: 
 
Secondary prevention targets the reduction of disease prevalence and disease morbidity through early diagnosis and treatment. Physiological Adaptation 
 
 
 
Question No : 2 - 
Which of the following foods is ...
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