Finn 3623 - Study guides, Class notes & Summaries

FINN 3623 Exam 1 Terms (Nelson Driver) Questions And Correct Answers - Already Passed!! 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 tolerance) Speculative Risk - ANSWER : When there is a chance of loss...

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...

FINN 3623 Risk Management Exam 1 (2024) || With Complete Answers (Graded A+) FINN 3623 Risk Management Exam 1 (2024) || With Complete Answers (Graded A+) PROTECT & ENHANCE the assets of an organization - ANSWER - What is the primary jobs/functions of the chief risk manager? peril - ANSWER - a cause of loss insurance - ANSWER - a mechanism of risk transfer hazard - ANSWER - anything that increases the probability of or severity of a loss physical hazard - ANSWER - a literal obstac...

FINN 3623 Risk Management Exam (2024) || Complete Solutions (Rated A+) FINN 3623 Risk Management Exam (2024) || Complete Solutions (Rated A+) What are the requirements for coverage for an incident to be covered under a claims-made liability policy? - ANSWER - To have a claim covered under a claims-made contract, the claim must occur during the policy period and the injury must occur after the retroactive date. How do these requirements differ from an occurrence basis policy? (look up ques...

FINN 3623 Liability Test || With Complete Solutions (100% Correct) FINN 3623 Liability Test || With Complete Solutions (100% Correct) Claims made occurrence - ANSWER - provides coverage if claim is made when a policy is in force and the injury occurred AFTER the retroactive date. Occurrence based policies - ANSWER - provides coverage of policy in force when event occurred. These policies can be made to pay years after the policy expired as long as the "injury" or negligence causing loss...

FINN 3623 Exam 1 Terms (Nelson Driver) w/ notes || Complete Questions & Answers (Graded A+) FINN 3623 Exam 1 Terms (Nelson Driver) w/ notes || Complete Questions & Answers (Graded A+) Risk - ANSWER - - The uncertainty of an outcome - The chance of loss - 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 - Attit...

FINN 3623 Exam 2 || Review Questions & Complete Solutions (100% Verified) FINN 3623 Exam 2 || Review Questions & Complete Solutions (100% Verified) What are the requirements for coverage for an incident to be covered under a claims-made liability policy? How do these requirements differ from an occurrence basis policy? - ANSWER - To have a claim covered under a claims-made contract, the claim must occur during the policy period and the injury must occur after the retroactive date. Under an o...

FINN 3003 Exam 4 (Ch 10-17) || All Questions & Solutions (100% Correct) FINN 3003 Exam 4 (Ch 10-17) || All Questions & Solutions (100% Correct) New York Stock exchange - ANSWER - Which would be an example of the secondary market? Types of Investments - ANSWER - -Money market securities -Stocks (common vs. preferred stock) Common stock - ANSWER - a certificate issued by a firm to raise funds that represents partial ownership in the firm Preferred stock - ANSWER - a certificate issue...

FINN 3273 Exam 2 || Complete Quizzes Solutions (100% Expert Verified) FINN 3273 Exam 2 || Complete Quizzes Solutions (100% Expert Verified) Which one of the following statements is true regarding claim department contacts? - ANSWER - Consumer complaints are investigated by the state insurance departments. Which one of the follow ing statements is true concerning claim information users? - ANSWER - Producers must have policyholder loss information to prepare renewal policies properly. W...