Two typed of risks - Study guides, Class notes & Summaries

Risk - Answer uncertainty of a financial loss; 2 types Two typed of risks - Answer Pure (Insurable) and speculative (uninsurable) Benefits of purchasing insurance? - Answer You get to transfer financial risk left after passing to insurance company Law of large numbers - Answer the larger the size of the group the more accurately the experience aka predicted losses of that group can be predicted Policyowner - Answer person who owns policy, pays premiums, and chooses the...

Risk - Answer--uncertainty of a financial loss; 2 types Two typed of risks - Answer--Pure (Insurable) and speculative (uninsurable) Benefits of purchasing insurance? - Answer--You get to transfer financial risk left after passing to insurance company Law of large numbers - Answer--the larger the size of the group the more accurately the experience aka predicted losses of that group can be predicted Policyowner - Answer--person who owns policy, pays premiums, and choose...

Risk uncertainty of a financial loss; 2 types Two typed of risks Pure (Insurable) and speculative (uninsurable) Benefits of purchasing insurance? You get to transfer financial risk left after passing to insurance company Law of large numbers the larger the size of the group the more accurately the experience aka predicted losses of that group can be predicted Policyowner person who owns policy, pays premiums, and chooses the beneficiary

Risk uncertainty of a financial loss; 2 types Two typed of risks Pure (Insurable) and speculative (uninsurable) Benefits of purchasing insurance? You get to transfer financial risk left after passing to insurance company Law of large numbers the larger the size of the group the more accurately the experience aka predicted losses of that group can be predicted Policyowner person who owns policy, pays premiums, and chooses the beneficiary Insured the life of the person the policy covers (...

Risk uncertainty of a financial loss; 2 types Two typed of risks Pure (Insurable) and speculative (uninsurable) Benefits of purchasing insurance? You get to transfer financial risk left after passing to insurance company Law of large numbers the larger the size of the group the more accurately the experience aka predicted losses of that group can be predicted Policyowner person who owns policy, pays premiums, and chooses the beneficiary Insured the life of the person the policy covers (...

Primerica Life Insurance Exam with correct solutions Risk Two typed of risks Benefits of purchasing insurance? Law of large numbers Policyowner Insured Insurer Beneficiary What does having life insurance create or do? Estate Premium Proceeds Synonyms/ other names for proceeds Are the proceeds taxed? Step 1 of how life insurance works Step 2 of how life insurance works Step 3 of how life insurance works Insurance producers Requirements for insurance prod...

Risk uncertainty of a financial loss; 2 types Two typed of risks Pure (Insurable) and speculative (uninsurable) Benefits of purchasing insurance? You get to transfer financial risk left after passing to insurance company Law of large numbers the larger the size of the group the more accurately the experience aka predicted losses of that group can be predicted Policyowner person who owns policy, pays premiums, and chooses the beneficiary Insured the life of the person the policy covers (co...

Risk - uncertainty of a financial loss; 2 types Two typed of risks - Pure (Insurable) and speculative (uninsurable) Benefits of purchasing insurance? - You get to transfer financial risk left after passing to insurance company Law of large numbers - the larger the size of the group the more accurately the experience aka predicted losses of that group can be predicted Policyowner - person who owns policy, pays premiums, and chooses the beneficiary Insured - the life of the person the pol...

Risk - correct answer uncertainty of a financial loss; 2 types Two typed of risks - correct answer Pure (Insurable) and speculative (uninsurable) Benefits of purchasing insurance? - correct answer You get to transfer financial risk left after passing to insurance company Law of large numbers - correct answer the larger the size of the group the more accurately the experience aka predicted losses of that group can be predicted Policyowner - correct answer person who owns policy, pays ...

Risk uncertainty of a financial loss; 2 types Two typed of risks Pure (Insurable) and speculative (uninsurable) Benefits of purchasing insurance? You get to transfer financial risk left after passing to insurance company Law of large numbers the larger the size of the group the more accurately the experience aka predicted losses of that group can be predicted