Exam (elaborations)
LIFE AND HEALTH INSURANCE EXAM WEBCE WITH ALL ANSWERS CORRECT
- Course
- Institution
LIFE AND HEALTH INSURANCE EXAM WEBCE WITH ALL ANSWERS CORRECT
[Show more]
Content preview
LIFE AND HEALTH INSURANCE EXAMWEBCE WITH ALL ANSWERS
CORRECT
Risk n- ncorrect nanswer-Chance nof nloss
Loss n- ncorrect nanswer-Unplanned nreduction nof neconomic nvalue
Peril n- ncorrect nanswer-cause nof nloss
Hazard n- ncorrect nanswer-a ncondition nthat nincreases nthe nchance nof nperil
Risk nTransfer n- ncorrect nanswer-buying ninsurance nto nshift nthe nrisk nto ninsurance
ncompany
Underwriting n- ncorrect nanswer-assessing napplicant nto ndetermine ninsurability
Adverse nSelection n- ncorrect nanswer-people nwith ngreater nrisk nof nloss ntrying nto
nbuy ninsurance
Mutual nCompanies n- ncorrect nanswer-owned nby npolicyholders nand nissue
nparticipating npolices ndividends nwhich naren't nguaranteed nor ntaxable
Stock nCompanies n- ncorrect nanswer-Owned nby nstockholders nwhose nstock ncan
nbe npublicly ntraded nand npay ndividends nthat nare ntaxable
, Federal nInsurance nPrograms n- ncorrect nanswer-Medicare nand nSocial nSecurity
State nInsurance nPrograms n- ncorrect nanswer-Medicaid nand nWorkers' ncomp
Producers nAuthority n- ncorrect nanswer-Expressed
Implied n
Apparent
Required nDisclosures n- ncorrect nanswer-Buyer's nguide nand npolicy nsummary
Offer n- ncorrect nanswer-signed napplication nand ninitial npremium
Acceptance n- ncorrect nanswer-issuing nof npolicy nas napplied nfor nby ninsurer
Contract nof nAdhesion n- ncorrect nanswer-ambiguities nin nthe ncontract nthat nare
ninterpreted nto nthe nbenefit nof nthe npolicyowner
Representations n- ncorrect nanswer-applicants ntruthful nstatements non napplication
Ways nto nmanage nrisk n- ncorrect nanswer-Transfer
Avoid
Retain n
Reduce
Share nwith nothers
Speculative nRisk n- ncorrect nanswer-result nin nloss nor ngain, nnoninsurable
Moral nHazard n- ncorrect nanswer-character nweakness nlike nhabits nor nlifestyle
Morale nHazard n- ncorrect nanswer-State nof nmind nor ncarless nattitude
Physical nHazard n- ncorrect nanswer-physical ncondition nthat nincreases nones nless
nlike nheavy ndrinking nor nsmoking
Managed nCare nService nProviders n- ncorrect nanswer-blend nof ncommercial nand
nmedical ninsurance nlike nblue ncross nblue nshield
Fraternal nbenefit nsociety n- ncorrect nanswer-An norganization nformed nto nprovide
ninsurance nbenefits nfor naffiliated nmembers
Self nInsurer n- ncorrect nanswer-large ncompanies nthat ncan ncover nlosses, nmust
nfollow nlaws nand npay nfor nitself
Risk nRetention ngroups n- ncorrect nanswer-Self-run ninsurance nprograms nset nup nby
ninsurance ncompanies nto ndo nown nadmin ntasks
Surplus nLine ninsurers n- ncorrect nanswer-property nand ncausality nmarket nfor
ninsurance nnot ncovered nby nstate
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller HIGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78121 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now