Speculative risk include Study guides, Class notes & Summaries
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ALABAMA LIFE & HEALTH INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS
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ALABAMA LIFE & HEALTH INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS 
 
 
Which of the following would be considered a speculative risk? - correct answer The possibility the painting you bought might be a long-lost masterpiece 
 
A speculative risk is one in which there is a chance for either loss or gain. Example: Gambling, Casino's, Lottery, etc. All of the other choices describe pure risk, where there is no chance of gain, only a chance of loss exists. 
 
Which is the proper term for a compan...
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California property and casualty exam, Pool Questions & Answers. Verified. Rated A
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California property and casualty exam, Pool Questions & Answers. Verified. Rated A 
 
 
 
The process where by a mutul insurer becomes a stock company is called - Demutalization 
 
The process whereby a stock company a mutal insurer is called - Mutalization 
 
The provision in a property policy which states that the insured has been paid up to their insurable interest is - Valuation clause 
 
The part of the policy that states the amout of coverage the insured property policy period is - Declara...
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CA Life and Health Exam Questions and Answers Already Passed
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CA Life and Health Exam Questions and Answers Already Passed What is insurance? Insurance is the legal contract where two parties agree that if something will happen, a value will be exchanged. 
What's the difference between pure risk and speculative risk? Pure risk is when you'll lose it all or there will be no change. Speculative risk you can either win or lose. 
What is peril? peril is the causes of loss insured against in an insurance policy 
What is hazard? conditions that increase the pr...
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Michigan Residential Builder's License Test With Correct Solution
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What is the 1st offense penalty for engaging in the practice of residential building without a license? - Answer Not less than $5K and not more than $25K and/or 1 year 
 
What is the penalty for engaging in the practice of residential building, resulting in a death? - Answer Not less than $5K and not more than $50K and/or 4 years 
 
On your individual builder's license application, what should you write as your "business address"? - Answer Your personal address 
 
What is the cost of the indi...
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Alabama Life & Health Insurance Exam 2024 with 100% correct answers
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Which of the following would be considered a speculative risk? - correct answer The possibility the painting you bought might be a long-lost masterpiece 
 
A speculative risk is one in which there is a chance for either loss or gain. Example: Gambling, Casino's, Lottery, etc. All of the other choices describe pure risk, where there is no chance of gain, only a chance of loss exists. 
 
Which is the proper term for a company owned by its policy owners? - correct answer A mutual insurance company...
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CISR - Elements of Risk Management Exam 132 Questions with Answers,100% CORRECT
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CISR - Elements of Risk Management Exam 132 Questions with Answers 
 
 
A ____ is a cause of loss - CORRECT ANSWER peril 
 
A situation, behavior, or condition that may lead to adverse financial consequences - CORRECT ANSWER exposure 
 
A cyberattack is an example of a ____ - CORRECT ANSWER peril 
 
An Insured who shows no regard for his insured property demonstrates a - CORRECT ANSWER morale hazard 
 
A spill on a supermarket aisle is an example of a ____ because it increases the likelihood...
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USAA Licensing Exam || with 100% Correct Answers.
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Insurance correct answers Transfer of risk from one person or organization to an insurance company 
 
Indemnity correct answers The principle to restore the insured to the pre-loss economic or financial condition. 
 
Law of Large numbers correct answers Mathematical principle used by insurers to predict losses to charge the appropriate premiums 
 
Insurable Interest correct answers Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and ...
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USAA Licensing Exam Latest Update Graded A+
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USAA Licensing Exam Latest Update 
 
Graded A+ 
 
Insurance Transfer of risk from one person or organization to an insurance company 
 
Indemnity The principle to restore the insured to the pre-loss economic or financial 
condition. 
 
Law of Large numbers Mathematical principle used by insurers to predict losses to charge 
the appropriate premiums 
 
Insurable Interest Proof that someone stands to lose financially if a loss occurs; must exist at 
the time of the loss in property and casualty in...
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WGU C428 Financial Resource Management in Healthcare Questions and Answers Already Graded A
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WGU C428 Financial Resource Management in Healthcare Questions and Answers Already Graded A Finance within a healthcare organization can be condensed into the "four Cs": Costs Cash Capital Control 
The finance department manager who handles capital acquisition, investment management, and risk management activities Treasurer 
The finance department manager who handles accounting, budgeting, and reporting activities. Comptroller 
The head of the finance department holds the title of chief financ...
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USAA Licensing Exam Questions & 100% Correct Answers | Latest Update | Graded A+
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Insurance 
: Transfer of risk from one person or organization to an insurance company 
Indemnity 
: The principle to restore the insured to the pre-loss economic or financial 
condition. 
Law of Large numbers 
: Mathematical principle used by insurers to predict losses to charge the 
appropriate premiums 
Insurable Interest 
: Proof that someone stands to lose financially if a loss occurs; must exist at the 
time of the loss in property and casualty insurance 
Binder 
2 | P a g e 
: Temporary...
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