Insurance quizzes - Study guides, Class notes & Summaries

Annuity - Insurance contract designed to provide retirement income Surrender charges - If the annuity is cancelled 7-10 years from issue Fixed Annuity - Investors pay premiums to the insurance company that is invested into the company's general account. Company has monthly payouts, company has investment risk Purchasing Power Risk - The fixed payment an annuitant receives loses buying power over time due to inflation Index Annuity - Credits interest to annuitants account, max and mi...

WebCE Quizzes: General Insurance & Life Insurance Exam With 100% Correct Answers 2023 Buying life or health insurance is an example of which risk management technique? risk avoidance risk reduction risk retention risk transfer - Correct Answer-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 p...

Webce Quizzes: General Insurance & Life Insurance Latest Update 2023 Buying life or health insurance is an example of which risk management technique? Risk avoidance Risk reduction Risk retention Risk transfer Correct Answer: 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 Correct An...

WebCE Quizzes: Health Insurance

WebCE Quizzes: General Insurance & Life Insurance Questions with answers correct 2023Buying 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 l...

Buying life or health insurance is an example of which risk management technique? risk avoidance risk reduction risk retention risk transfer - Answer- 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 - Answer- law of large numbers A person who refuses to engage is risky activiti...

Buying life or health insurance is an example of which risk management technique? risk avoidance risk reduction risk retention risk transfer - Ans 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 - Ans law of large numbers A person who refuses to engage is risky activities like ...

WebCE Quizzes: General Insurance & Life Insurance 2023 verified risk avoidance risk reduction risk retention risk transfer - correct answer 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 - correct answer law of large numbers A person who refuses to engage is risky activities l...

Buying life or health insurance is an example of which risk management technique? risk avoidance risk reduction risk retention risk transfer CORRECT ANSWERS: 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 CORRECT ANSWERS: law of large numbers A person who refuses to engage i...