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Bundle for Fundamentals of Insurance Tests Compilation | Updated
Bundle for Fundamentals of Insurance Tests Compilation | Updated
[Mostrar más]Bundle for Fundamentals of Insurance Tests Compilation | Updated
[Mostrar más]The major function of insurance is: 
a. To reduce the cost of the losses 
b. To share the losses of the few among the many 
c. The safeguard the interest of mortgages 
d. To serve as a basis of existing credit system - b. To share the losses of the few among the 
many 
A peril if best defined as: 
a...
Vista previa 3 fuera de 30 páginas
Añadir al carritoThe major function of insurance is: 
a. To reduce the cost of the losses 
b. To share the losses of the few among the many 
c. The safeguard the interest of mortgages 
d. To serve as a basis of existing credit system - b. To share the losses of the few among the 
many 
A peril if best defined as: 
a...
1. To "Bind a Risk" means: 
a. Having authority from the Insurer to put insurance in force 
b. Finding a company willing to give a quote on a risk 
c. Getting underwriting information from a client 
d. Automatically renewing an existing policy - a. Having authority from the Insurer to put 
insuran...
Vista previa 4 fuera de 43 páginas
Añadir al carrito1. To "Bind a Risk" means: 
a. Having authority from the Insurer to put insurance in force 
b. Finding a company willing to give a quote on a risk 
c. Getting underwriting information from a client 
d. Automatically renewing an existing policy - a. Having authority from the Insurer to put 
insuran...
Insurance plays an important role in managing financial risk. The main purpose of Insurance is 
to: 
A. Enable the consumer to obtain loan or mortgage. 
B. Provide employment and investment capital. 
C. Allow spread of risk. 
D. Reduce losses through loss prevention and loss reduction. - C. Allow sp...
Vista previa 4 fuera de 38 páginas
Añadir al carritoInsurance plays an important role in managing financial risk. The main purpose of Insurance is 
to: 
A. Enable the consumer to obtain loan or mortgage. 
B. Provide employment and investment capital. 
C. Allow spread of risk. 
D. Reduce losses through loss prevention and loss reduction. - C. Allow sp...
The major function of insurance is to achieve a spread of risk. Explain what is meant by spread 
of risk. - the major function of insurance is to share the losses of the few among the many 
What are the five functions of insurance? - 1. spread of risk (major function) 
2. basis of credit system 
3. ...
Vista previa 4 fuera de 36 páginas
Añadir al carritoThe major function of insurance is to achieve a spread of risk. Explain what is meant by spread 
of risk. - the major function of insurance is to share the losses of the few among the many 
What are the five functions of insurance? - 1. spread of risk (major function) 
2. basis of credit system 
3. ...
What is the major function of insurance? - to allow the spread of risk 
What are the five important functions of insurance? - 1) insurance is the shifting of financial 
responsibility for a loss 
2) payment will be made only in the event of an insured risk 
3) the amount of payment is restricted to ...
Vista previa 2 fuera de 8 páginas
Añadir al carritoWhat is the major function of insurance? - to allow the spread of risk 
What are the five important functions of insurance? - 1) insurance is the shifting of financial 
responsibility for a loss 
2) payment will be made only in the event of an insured risk 
3) the amount of payment is restricted to ...
1x vendido
What is the definition of "risk"? - the possibility of loss. 
Types of hazards? - Physical, attitudinal (carelessness), and moral. 
How do insurance companies measure probabilities? - By observing large numbers (mass) of 
similar (homogeneous) exposures in the statistical group from which they mak...
Vista previa 4 fuera de 45 páginas
Añadir al carritoWhat is the definition of "risk"? - the possibility of loss. 
Types of hazards? - Physical, attitudinal (carelessness), and moral. 
How do insurance companies measure probabilities? - By observing large numbers (mass) of 
similar (homogeneous) exposures in the statistical group from which they mak...
The major function of insurance is: 
a. To reduce the cost of the losses 
b. To share the losses of the few among the many 
c. The safeguard the interest of mortgages 
d. To serve as a basis of existing credit system - b. To share the losses of the few among the 
many 
A peril if best defined as: 
a...
Vista previa 3 fuera de 30 páginas
Añadir al carritoThe major function of insurance is: 
a. To reduce the cost of the losses 
b. To share the losses of the few among the many 
c. The safeguard the interest of mortgages 
d. To serve as a basis of existing credit system - b. To share the losses of the few among the 
many 
A peril if best defined as: 
a...
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