Speculative an - Study guides, Class notes & Summaries

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A.R.M. 400 Exam Practice Correct 100%
  • A.R.M. 400 Exam Practice Correct 100%

  • Exam (elaborations) • 48 pages • 2023
  • When communicating a decision up the organization's chain of command, consulting with outside experts can help a risk management professional do which one of the following? A. Seek feedback from stakeholders B. Stay focused on the organization's objectives C. Define the organization's risk appetite D. Enhance stakeholders' confidence in the process - ANSWERSD Which of the following risk management program goals is an essential goal for all public entities? A. Earning stability B. Co...
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California Life PSI Site - Life, Accident and Health Agent Examination (Life Agent) Questions and Answers (2022/2023) (Verified Answers)
  • California Life PSI Site - Life, Accident and Health Agent Examination (Life Agent) Questions and Answers (2022/2023) (Verified Answers)

  • Exam (elaborations) • 34 pages • 2023
  • California Life PSI Site - Life, Accident and Health Agent Examination (Life Agent) Questions and Answers (2022/2023) (Verified Answers) Admitted Insurance Company vs. Non-Admitted Insurance Company - (Correct Answer) An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (CDI) A non-admitted insurance company is not authorized to transact insurance in California because of fa...
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RSK2601 MCQ EXAM PACK 2024 RSK2601 MCQ EXAM PACK 2024
  • RSK2601 MCQ EXAM PACK 2024

  • Exam (elaborations) • 183 pages • 2023
  • TEST BANK Enterprise Risk Management S - The Marketplace to Buy and Sell your Study Material 1 RSK2601 TEST BANK Question 1 Which one of the following is a benefit of effective risk and opportunity management? 1) Improved profit certainty 2) Increased shareholder value 3) Increased stakeholder confidence Correct option 3 4) Lower economic returns Explanation Improved cost certainty, sustainable shareholder value, increased stakeholder confidence and higher economic returns...
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Michigan Property & Casualty Exam 2023/2024 with Complete Solutions
  • Michigan Property & Casualty Exam 2023/2024 with Complete Solutions

  • Exam (elaborations) • 23 pages • 2023
  • Indemnity - ANSWER-a payment for damages or loss Risk - ANSWER-Uncertainty or chance of loss occurring Pure Risk - ANSWER-Presents the chance of loss with no opportunity for gain Speculative Risk - ANSWER-Presents the chance of loss with an opportunity to gain (Like Gambling) Exposure - ANSWER-a unit of measurement used to determine rates charged for insurance coverages. Hazards - ANSWER-Conditions or situations that increase the probability of an insured loss occurring. Peril ...
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FINN 3623 Exam 1 Terms (Nelson Driver) || All Questions & Solutions (Rated A+)
  • FINN 3623 Exam 1 Terms (Nelson Driver) || All Questions & Solutions (Rated A+)

  • Exam (elaborations) • 5 pages • 2024
  • FINN 3623 Exam 1 Terms (Nelson Driver) || All Questions & Solutions (Rated A+) FINN 3623 Exam 1 Terms (Nelson Driver) || All Questions & Solutions (Rated A+) Risk - ANSWER - The uncertainty of an outcome -Can be positive or negative Pure Risk - ANSWER - The chance of having a loss or chance of not having a loss (When insurance companies write a policy, the only policy they take under consideration) Subjective Risk - ANSWER - Attitude toward risk (Also known as your level of risk toler...
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Texas Property & Casualty Insurance License Exam With Accurate Answers 2023
  • Texas Property & Casualty Insurance License Exam With Accurate Answers 2023

  • Exam (elaborations) • 7 pages • 2023
  • Texas Property & Casualty Insurance License Exam with Accurate Answers 2023 In order to be considered legally binding, an insurance contract must include all of the following - Offer and acceptance. Competent parties. Consideration (The four essential elements of all legal contracts are offer and acceptance, consideration, legal purpose, and competent parties.) With respect to a bonded contractor who defaults on a construction performance contract, which of the following statements is...
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Iowa Crop Insurance Exam All Answers Correct
  • Iowa Crop Insurance Exam All Answers Correct

  • Exam (elaborations) • 3 pages • 2024
  • Iowa Crop Insurance Exam All Answers Correct Insurable Interest Economic stake in which a loss would result in financial hardship Risk uncertainly or chance of loss Brainpower Read More Two types of risk Pure and Speculative Pure Risk involves only the possibility of loss or no loss Speculative Risk Chance of loss or gain What type if risk does insurance deal with? Pure Risk Hazard condition that creates or increases the probability of a loss Physical hazard exa...
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LOMA 281 Module 1 (100% Correct Answers) 2024.
  • LOMA 281 Module 1 (100% Correct Answers) 2024.

  • Exam (elaborations) • 6 pages • 2023
  • Risk correct answers the possibility of an unexpected result. Premium correct answers 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 correct answers A company that provides protection against the risk of financial loss caused by specific events. Life insurance correct answers A type of insurance under which the insurer promises to pay a death benefit upon the death of a named person. ...
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent)| Questions and Answers, 100% Correct| Latest 2023/2024
  • CA PSI Site - Life, Accident and Health Agent Examination (Life Agent)| Questions and Answers, 100% Correct| Latest 2023/2024

  • Exam (elaborations) • 22 pages • 2023
  • CA PSI Site - Life, Accident and Health Agent Examination (Life Agent)| Questions and Answers, 100% Correct| Latest 2023/2024 CA PSI Site - Life, Accident and Health Agent Examination (Life Agent)| Questions and Answers, 100% Correct| Latest 2023/2024 Admitted Insurance Company vs. Non-Admitted Insurance Company An admitted insurance company is authorized to transact insurance in California because it has a Certificate of Authority granted by the California Department of Insurance (...
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Life & Health Insurance Exam (Answered) With Complete Solution 100% Rated
  • Life & Health Insurance Exam (Answered) With Complete Solution 100% Rated

  • Exam (elaborations) • 32 pages • 2024
  • Life & Health Insurance Exam (Answered) With Complete Solution 100% Rated Insurance transfer of risk Speculative risk has a possibility of both loss and gain Pure risk only has a possibility of loss (no gain) Exposure risks for which an insurance company would be liable expressed in units Peril cause of a loss Hazard an increase in the chance of loss Moral hazard arise from people's character (faking a loss) Morale hazard state of mind or careless attitude (accidentally lea...
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