Ains 21 2024 - Study guides, Class notes & Summaries

AINS 21 Segment A | 124 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+

AINS 21 | 113 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+

AINS 21 - Segment A | 137 Questions with 100 % correct answers | Verified& Updated 2024 | Already Passed From a risk management viewpoint, insurance is used to A. Prevent the cost of losses B. Reduce the cost of losses C. Transfer the cost of losses D. Isolate the cost of losses. - C. Transfer the cost of losses. A loss exposure is: A. Any condition that presents the possibility of a loss. B. Any condition that precludes the chance of loss. C. The same thing as a peril. D. The same th...

AINS 21 Glossary | 286 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ loss exposure - any condition or situation that presents the possibility of a loss law of large numbers - a mathematical principle stating that as the number of similar but independent exposure units increases, the relative accuracy of predictions about future outcomes (losses) based on these exposure units also increases exposure unit - a measure of the loss exposure assumed by the insurer, used...

AINS 21 Segment A | 124 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ 4 roles of insurance - 1. risk management technique 2. transfer system 3. business 4. contract loss exposure - any condition or situation that presents a possibility of loss, whether or not actual loss occurs risk management - making and implementing decisions that will minimize the adverse effects of accidental losses on an organization -avoid, prevent, reduce -from RM standpoint, insuranc...

AINS 21 Segment A (ch 1-3) | 92 Questions with 100 % Verified Solutions | Verified& Updated 2024 | Already Passed

AINS 21 Segment A | 124 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ 4 roles of insurance - 1. risk management technique 2. transfer system 3. business 4. contract loss exposure - any condition or situation that presents a possibility of loss, whether or not actual loss occurs risk management - making and implementing decisions that will minimize the adverse effects of accidental losses on an organization -avoid, prevent, reduce -from RM standpoint, insurance i...

AINS 21 | 276 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ Loss Exposure - Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs. Risk Management - The process of making and implementing decisions that will minimize the adverse effects of accidental losses on an organization Loss Prevention - A risk control technique that reduces the frequency of a particular loss Loss Reduction - A risk control technique that reduc...

AINS 21 Segment A (ch 1-3) | 92 Questions with 100 % Verified Solutions | Verified& Updated 2024 | Already Passed

AINS 21 Segment A | 70 Questions with 100 % correct answers | Verified& Updated 2024 | Already Passed