Loma 281 module 1 - Study guides, Class notes & Summaries

LOMA 281 MODULE 1 EXAM 2024 WITH 100% CORRECT ANSWERS Risk - correct answer the possibility of an unexpected result. Premium - correct answer A specified amount of money an insurer charges in exchange for its agreement to pay a policy benefit when a specific loss occurs. Insurance company - correct answer A company that provides protection against the risk of financial loss caused by specific events. Life insurance - correct answer A type of insurance under which the insurer promis...

LOMA 281 Module 1 Lesson 1 Exam Questions and Answers

LOMA 281 Module 1 questions with complete solutions Risk - ANSWERS the possibility of an unexpected result. Premium - ANSWERS A specified amount of money an insurer charges in exchange for its agreement to pay a policy benefit when a specific loss occurs. Insurance company - ANSWERS A company that provides protection against the risk of financial loss caused by specific events. Life insurance - ANSWERS A type of insurance under which the insurer promises to pay a death benefit upon t...

LOMA 281 Module 1 Exam Questions and Answers

LOMA 281 Module 1 Test with Correct Answers Financial services industry - Answer-The industry made up of various kinds of financial institutions that help people, businesses, and governments save, borrow, invest, and otherwise manage money. Financial institutions - Answer-A business that owns primarily financial assets, such as stocks and bonds, rather than fixed assets, such as equipment and raw materials. Depository institution - Answer-A financial institution that accepts deposits f...

LOMA 281 Module 1 Latest 2023 Graded A+ Risk the possibility of an unexpected result. Premium A specified amount of money an insurer charges in exchange for its agreement to pay a policy benefit when a specific loss occurs. Insurance company A company that provides protection against the risk of financial loss caused by specific events. Life insurance A type of insurance under which the insurer promises to pay a death benefit upon the death of a named person. Annuity A financial product by w...

LOMA 281 MODULE 1 QUESTIONS AND ANSWERS

LOMA 281 Module 1 Questions And Answers Latest |Update| Verified Answers

LOMA 281 Module 1 Exam Questions and Answers (Latest Update 2024)

Risk - ANSWER the possibility of an unexpected result. Premium - ANSWER A specified amount of money an insurer charges in exchange for its agreement to pay a policy benefit when a specific loss occurs. Insurance company - ANSWER A company that provides protection against the risk of financial loss caused by specific events. Life insurance - ANSWER A type of insurance under which the insurer promises to pay a