Wisconsin Life Insurance Course Questions and Correct Answers | Latest Update
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Course
Wisconsin Life Insurance
Institution
Wisconsin Life Insurance
Stock Companies
-:- -private organization focused to make profits for shareholders
-Stock dividends are paid to stock holders
-policyholders do not participate
Mutual Companies
-:- -have no stock holders
-owners are policy owners
-policy holders can vote for members of the board
-policy...
✓ -:- is a risk that presents the chance for loss and a gain
ex. Gambling
Pure Risk
✓ -:- are the only insurable risks and present a potential for loss only with
no possibility of gain
ex. death
Avoidance
✓ -:- elimination of the hazard
Reduction
✓ -:- minimizing the severity of a potential loss
Retention
✓ -:- self insure, used when losses are highly predictable and the worst
loss is not serious
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