Fundamentals of Insurance Exams PACKAGE DEAL WITH COMPLETE SOLUTIONS ALREADY PASSED!!! |updated & Verified | 2024

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...

1. What is the most effective way to control transmission of infection? 1. Isolation precautions 2. Identifying the infectious agent 3. Hand hygiene practices 4. Vaccinations Hand Hygiene Practices 2. A patient who has been isolated for Clostridium difficile (C. difficile) asks you to explain w...

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 the ...

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...

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 make thei...

a priori reasoning reasoning with conclusions that are based on self-evident propositions (also known as deductive reasoning). One can reason a priori that the probability of a result of tails in the flip of a coin is one in two. AAIS (American Association of Insurance Services) an advisory organ...

Types of Insurance Life, Health, Disability, Property, Long-Term care, Personal liability Categories of Risk Pure Speculative Subjective Objective Fundamental Particular Nonfinancial Financial Pure Risk There is a chance of loss or no loss. Examples: death, auto accident, house fire

Three Main Categories Of Risk 1) Personal Risk 2)Property Risk 3)Liability Risk What are the FIVE elements of a contract? A) Agreement, Risk, Loss, Consideration, Legality B) Legal Capacity, Legality of Object, Consideration, Agreement, Genuine Intention C) Agreement, Legal Capacity, Risk, Los...