Exam (elaborations)
CPCU 500 - Foundations of Risk Management and Insurance Study Guide 2024
- Course
- Institution
CHAPTER 1 - ... What are the two elements of risk? - -Uncertainty of outcome - Time of the outcome and type of outcome are uncertain -possibility of a negative outcome - at least 1 outcome is negative What is the difference between probability and possibility? - Possibility - an outcome or e...
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