Loma 281 module 1 Study guides, Class notes & Summaries

LOMA 281 Module 1 Questions with Correct Answers 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 death benefit upon the death ...

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 which an insurer, in return ...

LOMA 281 Module 1Risk - 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 promises to pay a death benefit upon the death o...

LOMA 281 MODULE 1 EXAM LATEST UPDATE...

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 death benefit upon the death of a named person. Annuity - ANSWER A financial...

LOMA 281 Module 1 Lesson 1 Exam Questions and Answers

Financial services industry - ANSWER An industry in which financial institutions help people, businesses, and governments with their asset accumulation, asset management, and asset protection needs Financial institutions - ANSWER A business that owns primarily financial assets, such as stock and bonds, rather than fixed assets, such as equipment and raw materials

Assume that Caryer has life insurance on his own life. Select the box beside each financial need that you think life insurance can meet Paying household expenses (utility bills, food, clothing, etc) Covering outstanding debts (mortgage and car loans, etc) Paying future outstanding medical, hospital, and funeral expenses Providing financial support for the family Funding a child's education - ANSWER All the above Term Life Insurance - ANSWER Life Insurance that provides a death benefit...

LOMA 281 Module 1 Exam Questions and Answers

LOMA 281 Module 1 Lesson 1 well answered to pass