Speculative risk - Study guides, Class notes & Summaries

ABRC Illinois Property General Section and Laws and Regulations Actual Exam Questions & Verified Answers . Pure Risk loss in an event that insured did not plan Speculative Risk loss in an event that the insured intentionally caused, not covered by insurance companies Pooling of Risks Is when a large group of people contribute money to a fund out of which their losses can be paid Insurable Interest financial risk the insureds must possess at the time of loss both principals of indemnity and i...

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...

FLORIDA 2-15 INSURANCE LICENSE EXAM 2024 UPDATE WITH 600+ QUESTIONS WITH CORRECT ANSWERS ALREADY GRADED A+ |GUARANTEED PASS| Speculative Risk ANSWER: - Risk that involves chance of both loss and gain; not insurable

Alabama Life & Health Insurance Exam Questions and answers Which of the following would be considered a speculative risk? - ANSWER-The possibility the painting you bought might be a long-lost masterpiece A speculative risk is one in which there is a chance for either loss or gain. Example: Gambling, Casino's, Lottery, etc. All of the other choices describe pure risk, where there is no chance of gain, only a chance of loss exists. Which is the proper term for a company owned by its poli...

CA PSI Site - Life, Accident And Health Agent Examination (Life Agent) Questions With 100% Correct Answers 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 failing to comply with California requirements or did not seek admission Admitted Insurance Company vs. Non-Admit...

AIDA 182 (Latest 2023/ 2024 Update) Risk and Insurance Analysis Techniques Exam | Questions and Verified Answers| 100% Correct| Grade A Q: What is true of diversifiable versus non-diversifiable risk? Answer: Diversifiable risks are not correlated and can be managed through diversification or spread of risk. Q: A company's fleet of cars is worrying the managers liquidity of the company and fuel prices having an adverse effect is which type of risk quadrant? Answer: Financia...

ARM 400 Exam Questions and Answers 100% Verified what two things lie at the base of every risk management concept - answerthe intersection of different types of risk a method for identifying, assessing, and treating all risks traditional risk assessment techniques focus on what - answerroot cause analysis - which identifies a loss's predominant cause what is wrong with Root Cause Analyses - answerit can only look backward and might not catch all root causes what are the 3 steps in how ...

Massachusetts Life Insurance Final Exam Questions and Answers Graded A+ in Massachusetts, a small employer is comprised of 1-50 employees Kate received a group accident and health termination notice. How many days does she have to apply for a converted policy? 31 Scott has a life insurance policy in which the dividends are left with the insurance company. This particular policy may be paid up when the cash value plus accumulated dividends equal the net single premium for the same...

What do individuals use to transfer their risk of loss to a larger group? CORRECT ANSWER Insurance What are the four elements of an insurance contract? CORRECT ANSWER Agreement (Offer and Acceptance), Consideration, Competent parties, and legal purpose. In the agent/insurer relationship, who is considered the principal? CORRECT ANSWER Insurer Insurance contracts are aleatory in nature. What does that mean? CORRECT ANSWER Unequal values are exchanged between the parties to a contract. ...

CRM Principles of Risk Management Exam 2025 Questions and Answers (2025 / 2026) (Verified Answers) Explain the impacts of an effective Risk Management program on an orga- nization (6): 1. protects organization's reputation/brand 2. Increases profitability 3. Raises awareness of risk management 4. supports managerial objective 5. Improves morale and productivity 6. Improves quality, process and technology 2. Define Traditional Risk Management (TRM).: a functional, siloed, view of risk affec...

Ohio Property and Casualty Exam Questions & Answers 2023-24 What do individuals use to transfer their risk of loss to a larger group? - ANSWER-Insurance What are the four elements of an insurance contract? - ANSWER-Agreement (Offer and Acceptance), Consideration, Competent parties, and legal purpose. In the agent/insurer relationship, who is considered the principal? - ANSWER-Insurer Insurance contracts are aleatory in nature. What does that mean? - ANSWER-Unequal values are exchan...