Speculative Study guides, Class notes & Summaries
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NC Health Insurance Exam Pearson Vue Exam And Correct Answers 2024.
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Pure Risk - Answer chance of loss or no loss but not gain insurable 
 
Speculative Risk - Answer there is possibility of loss but of gain no insurablility 
 
exposure unit - Answer subject to loss 
 
peril - Answer cause of loss 
 
life insurance - Answer death 
 
Health insurance - Answer accident and sickness 
 
hazard - Answer increases the likelihood or severity of loss 
 
Three types of hazard - Answer physical, moral, morale 
 
physical hazard - Answer arise from the inhe...
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent)| Questions with 100 % correct Answers | Verified
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Admitted Insurance Company vs. Non-Admitted Insurance Company - 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 
Pure Risk vs. Speculative Risk - Pure risks are insurable but Speculative risks ar...
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete Solutions
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CA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete SolutionsCA PSI Site - Life, Accident and Health Agent Examination (Life Agent) with Complete SolutionsAdmitted Insurance Company vs. Non-Admitted Insurance Company - ANSWER-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 transa...
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CPCU 500: Becoming a Leader in Risk Management and Insurance Exam | Questions and Verified Answers| 100% Correct| Grade A (Latest 2023/ 2024 Update)
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CPCU 500,Becoming a Leader in Risk Management and Insurance Exam | Questions and Verified Answers| 100% Correct| Grade A (Latest 2023/ 2024 Update) 
 
Q: Which one of the following is an element of a loss exposure? 
Choose one answer. 
 A. The verification of risk 
 B. A cause of loss 
 C. The probability of a loss 
 D. The occurrence of a loss 
 
 
Answer: 
B. A cause of loss 
 
 
Q: The statement "There is a 5 percent chance that John will be injured in an automobile accident while drivi...
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Ohio Property and Casualty Exam Questions & Answers 2023-24
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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...
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CPCU 500 Exam Questions and Answers 2023
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Risk - Answer- the uncertainty about outcomes, with the possibility that some of the outcomes can be negative. Quantified by knowing the probability of the possible outcomes 
 
Probability - Answer- the likelihood that an outcome or event will occur. Probabilities are stated as a decimal figure, a percentage, or a fraction. 
 
What are the 2 elements associated with risk? - Answer- uncertainty of outcome + possibility of negative outcome 
 
Pure Risk - Answer- a chance of loss or no loss, but no...
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Florida 2-15 Insurance Questions And Answers
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In the insurance business, risk can best be defined as: 
 
A. sharing the possibility of a loss 
B. uncertainty regarding the future 
C. uncertainty regarding financial loss 
D. uncertainty regarding when death will occur - Answer- C. The concept of insurance developed from the need to minimize the adverse effects of risk associated with the probability of financial loss. 
 
Which of the following risks is insurable? 
 
A. pure risks 
B. gambling 
C. speculative risks 
D. investing - Answer- A....
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California Life PSI Site - Life, Accident and Health Agent Examination (Life Agent) Questions and Answers (2022/2023) (Verified Answers)
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California Life PSI Site - Life, Accident and Health Agent Examination (Life Agent) Questions and Answers (2022/2023) (Verified Answers) 
Admitted Insurance Company vs. Non-Admitted Insurance Company - (Correct Answer) 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 fa...
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Washington Life/Health Insurance Exam | 303 Questions and Answers(A+ Solution guide)
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policy owner - usually, but not always the person covered by the policy 
beneficiary - the person who is paid when a claim 
is submitted 
agent/producer - acts as a legal representative 
of the insurance company 
broker - representative of the Insured, not the insurance company 
risk - The chance or uncertainty of loss 
Pure risk - the chance of experiencing a loss (without the possibility of gain). Only downside, no 
upside. 
Speculative risk - s the chance of loss one accepts in the hope of re...
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RMI 2302 FSU NYCE EXAM 1 Questions And Answers (Verified And Updated)
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RMI 2302 FSU NYCE EXAM 1 Questions 
And Answers (Verified And Updated) 
Risk Likelihood - answerFrequency - the probability that a loss can occur. 
What 3 ways can Risk Likelihood be categorized - answerHigh - an event is expected to 
happen in most circumstances 
Medium - an even will probably happen in many circumstances 
Low - an event may occur at some point 
Risk Impact - answerSeverity - the potential effect that a loss could have if it arises. 
Risk prevention methods are best applied to ...
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