Massachusetts Life and Health Insurance Exam Questions and Correct Answers | Latest Update
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Course
MASSACHUSETTS HEALTH & ACCIDENT INSURANCE
Institution
MASSACHUSETTS HEALTH & ACCIDENT INSURANCE
Insurance
-:- Transfer of Risk
Risk
-:- Uncertainty/ Possibility of Loss
Exposure
-:- Risks for which the insurance company would be liable
Peril
-:- Cause of Loss
Hazard
-:- Something that causes an increase in the chance of loss
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✓ -:- The larger the group, the more accurate losses can be predicted
CANHAM Risks
✓ -:- Can be insured with the following characteristics
C- CANHAM Risks
✓ -:- Calculable
A- CANHAM Risks
✓ -:- Affordable
N- CANHAM Risks
✓ -:- Non- Catastrophic
H- CANHAM Risks
✓ -:- Homogeneous
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