A moral hazard - Study guides, Class notes & Summaries

Research indicates that the 2014 expansion of Medicaid has led to a number of unintended consequences including: - higher per capita spending on the expansion population than anticipated. Which of the following statements is true about the Medicaid program? - The majority of total outlays are for the elderly and disabled. One of the reasons the 2008 Oregon Experiment was so important is because it(s): - experimental design included random selection of the treatment and control groups. Whi...

NY Independent General Adjuster Exam - Series 17-70 Questions and Answers 100% Pass Dram Shop Liability refers to: Liquor Law Liability. The insured has suffered a covered loss under his DP-3 dwelling form. He fails to protect the property from further loss. The additional loss that occurs as a result of his inactions may be denied because of what clause in the policy? Neglect. To be eligible for the New York assigned risk auto plan a person must: Hold a valid driver's license. Any insurance...

Perils correct answer: the cause of loss Policy Owner correct answer: the person who has the rights and privileges in the policy Risk correct answer: Uncertainty or chance of loss -Pure Risk(Insurable) -Speculative(Uninsurable) Insured correct answer: the person covered by the insurance policy insurer correct answer: a company that issues an insurance policy Law of large numbers correct answer: the larger the number of people with the same exposure to loss, the more predic...

Life-Only Agent Exam 1 Questions and Answers 100% Pass AN example of a moral hazard in relation to a life insurance application would be: - Answer ️️ -Misstating your health history to an insurance company. John applies for a variable annuity and does not request that the premiums be immediately invested in a stock or bond portfolio. After the annuity is issued, John returns the annuity contract to the insurer within the free look period. What will John receive from the insurer? - Ans...

MHA 707 Exam C Questions & Answers 2023/2024 Moral Hazard - ANSWER-When the act of insuring an event increases the likelihood that the event will happen behaving different when you know someone is taking the risk (induced demand) Adverse Selection - ANSWER-the situation in which one party to a transaction takes advantage of knowing more than the other party to the transaction the sicker people likely want more insurance, compared to those who are healthy Pooling of Risk - ANSWER...

MHA 707 Exam C Questions & Answers 2023/2024 Moral Hazard - ANSWER-When the act of insuring an event increases the likelihood that the event will happen behaving different when you know someone is taking the risk (induced demand) Adverse Selection - ANSWER-the situation in which one party to a transaction takes advantage of knowing more than the other party to the transaction the sicker people likely want more insurance, compared to those who are healthy Pooling of Risk - ANSWER...

Iowa Crop Insurance Exam All Answers Correct Insurable Interest Economic stake in which a loss would result in financial hardship Risk uncertainly or chance of loss Brainpower Read More Two types of risk Pure and Speculative Pure Risk involves only the possibility of loss or no loss Speculative Risk Chance of loss or gain What type if risk does insurance deal with? Pure Risk Hazard condition that creates or increases the probability of a loss Physical hazard exa...

If a company cancels an auto policy mid term, the refund will be made on a. pro rata basis b. short rate basis c. retroactive basis d. coinsurance basis Pro Rata Basis What is the term used to describe terminating the insurance relationship at the end of the policy period ? a. cancellation b. nonrenewal c. separation d. exclusion Nonrenewal Which is the best example of an indirect loss ? a. sequential loss b. liability loss c. employee theft d. loss of use Loss o...

TCOLE (Master Study Guide 2022 Test Bank) Complete Questions/Answered Correctly! That condition of the human organism that consists of its health and disease status and risk potential. {correct response}- Wellness According to the Occupations Code, a person licensed as a peace officer must complete 40 hours of legislatively required continuing education training once every {correct response}- 24 months According to Commission Rules, if a licensee's name is changed for any reason, suc...

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...