Loma 281 module 1 - Study guides, Class notes & Summaries

LOMA 281 Module 1 Lesson 1 well answered to pass

LOMA 281 Module 1 questions with 100% correct answers

LOMA 281 Module 1 Exam Questions and Answers LOMA 281 Module 1 Exam Questions and Answers LOMA 281 Module 1 Exam Questions and Answers LOMA 281 Module 1 Exam Questions and Answers LOMA 281 Module 1 Exam Questions and Answers LOMA 281 Module 1 Exam Questions and Answers LOMA 281 Module 1 Exam Questions and Answers LOMA 281 Module 1 Exam Questions and Answers LOMA 281 Module 1 Exam Questions and Answers

Risk - the possibility of an unexpected result. Premium - A specified amount of money an insurer charges in exchange for its agreement to pay a policy benefit when a specific loss occurs. Insurance company - A company that provides protection against the risk of financial loss caused by specific events. Life insurance - A type of insurance under which the insurer promises to pay a death benefit upon the death of a named person. Annuity - A financial product by which an insurer, in return ...

Insurance policy - ANSWER A legally enforceable contract between a policyowner who applies for and owns the policy and the insurer that issues the policy Unilateral contract - ANSWER A contract in which only one of the parties makes a legally enforceable promise when entering into the contract. (life insurance)

Financial services industry - ANSWER An industry in which financial institutions help people, businesses, and governments with their asset accumulation, asset management, and asset protection needs Financial institutions - ANSWER A business that owns primarily financial assets, such as stock and bonds, rather than fixed assets, such as equipment and raw materials Depository institution - ANSWER A financial institution that specializes in accepting deposits and making loans

LOMA 281 Module 1 Questions with Correct Answers Risk - Answer-the possibility of an unexpected result. Premium - Answer-A specified amount of money an insurer charges in exchange for its agreement to pay a policy benefit when a specific loss occurs. Insurance company - Answer-A company that provides protection against the risk of financial loss caused by specific events. Life insurance - Answer-A type of insurance under which the insurer promises to pay a death benefit upon the death ...

LOMA 281 Module 1 Exam Questions and Answers

Risk - ANSWER the possibility of an unexpected result. Premium - ANSWER A specified amount of money an insurer charges in exchange for its agreement to pay a policy benefit when a specific loss occurs. Insurance company - ANSWER A company that provides protection against the risk of financial loss caused by specific events. Life insurance - ANSWER A type of insurance under which the insurer promises to pay a death benefit upon the death of a named person. Annuity - ANSWER A financial...

LOMA 281 Module 1 Lesson 1 Questions And Answers Latest |Update| Verified Answers