Avoidance and retention - Study guides, Class notes & Summaries
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Mass State Life Insurance Exam Questions and Answers Already Passed
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Mass State Life Insurance Exam 
Questions and Answers Already Passed 
 
Which of the following describes a participating life insurance policy? A participating life 
policy is one in which the policyowner receives dividends deriving from the company's divisible 
surplus 
 
What type of reinsurance contract between two insurers involves an automatic sharing of the 
risks assumed? Under treaty reinsurance, each party automatically accepts specific 
percentages of the insurer's business. 
 
At wh...
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TESTBANK FOR WEBCE 2024 UPDATE WITH 1000+, CORRECTLY ANSWERED QUESTIONS ALREADY GRADED A+ |HIGHLY PREADICTED AND 100% SUCCESS GUARANTEED
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Buying life or health insurance is an example of which risk management technique? 
 
risk avoidance 
risk reduction 
risk retention 
risk transfer - risk transfer 
 
What is the mathematical concept of probability that helps insurers estimate the statistical likelihood of mortality or morbidity losses at any given age? 
 
law of large numbers 
underwriting principle 
law of probability 
actuarial principle - law of large numbers 
 
A person who refuses to engage is risky activiti...
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WebCE Quizzes: General Insurance & Life Insurance exam 2024 with 100% correct answers
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Buying life or health insurance is an example of which risk management technique? 
 
risk avoidance 
risk reduction 
risk retention 
risk transfer correct answersrisk transfer 
 
What is the mathematical concept of probability that helps insurers estimate the statistical likelihood of mortality or morbidity losses at any given age? 
 
law of large numbers 
underwriting principle 
law of probability 
actuarial principle correct answerslaw of large numbers 
 
A person who refuses to engage is risk...
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CISR - Elements of Risk Management Exam 132 Questions with Answers,100% CORRECT
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CISR - Elements of Risk Management Exam 132 Questions with Answers 
 
 
A ____ is a cause of loss - CORRECT ANSWER peril 
 
A situation, behavior, or condition that may lead to adverse financial consequences - CORRECT ANSWER exposure 
 
A cyberattack is an example of a ____ - CORRECT ANSWER peril 
 
An Insured who shows no regard for his insured property demonstrates a - CORRECT ANSWER morale hazard 
 
A spill on a supermarket aisle is an example of a ____ because it increases the likelihood...
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HRD3702 Assignment 7 Semester 2 2023
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HRD3702 Assignment 7 Semester 2 2023 .100% CORRECT questions, answers, workings and explanations.Question 1 Answer saved Marked out of 1.00 Flag question Question text Career resilience is the ability to adjust to career changes as and when it happens and adapt to what the market is demanding of you. Career resilience within the organisation includes; Avoidance of skill obsolescence Commitment to organisation Participating in learning activities Personal motivation Clear my choice Question 2 Ans...
Too much month left at the end of the money?
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Florida Insurance Health Exam Questions and Answers (100% scores)
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Insurance - Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. 
Life Insurance - Is based on actuarial or mathematical principles and guarantees a specified sum of money upon the death of the person who is insured. 
Health Insurance - Evolved from scientific principles to provide funds for medical expensed due to sickness or injury and to cover loss of incom...
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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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AZ Life and Health Insurance Study Guide (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct
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AZ Life and Health Insurance Study Guide (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct 
 
Q: Methods of Handling Risk: 
Avoidance, Retention, Sharing, Reduction, Transfer 
 
 
 
Q: Risk Retention 
 
 
Answer: 
the planned assumption of risk by an insured through the use of deductibles, co-payments, or self-insurance. It is also known as self-insurance when the insured accepts the responsibility for the loss before the insurance company pays. The purpose of retention is ...
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CAIB 1 - Chapter 1 Questions and Answers Rated A+
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Define "Risk" The chance of a financial loss to which the object of insurance may be 
exposed to 
List 3 Categories of Risk 1) Personal 2) Property 3) Liability 
List 4 Types of Risk Management Techniques 1) Risk Avoidance 2) Risk Retention 3) Risk 
Control 4) Risk Transfer 
Define "Risk Avoidance" To avoid doing something in order to eliminate the chance of risk 
Define "Risk Retention" To self-insure or to pay for losses themselves 
Define "Risk Control" To reduce the frequency or seve...
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CGFO - Financial Administration Exam Study Guide 2024 Top Graded
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According to GASB 10, list the types of risk - Torts 
Theft of damage to, or destruction of assets 
Business interuption 
Errors or omissions 
Job-related illnesses or injuries to employees 
Acts of God 
Any other risk of loss assumed under a policy or participation contract issued by a public entity risk pool 
Risk of loss resulting when an entity agrees to provide accident and health, dental, and other medical benefits to its employees. 
 
What are the two ways to mange risk? - Manage an organ...
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