Risk chance of loss Study guides, Class notes & Summaries

What is insurance? correct answer: Insurance transfers the risk of loss from an individual or business entity to an insurance company, which in turn spreads the costs of unexpected losses to many individuals. What is risk? correct answer: Risk is the uncertainty or chance of a loss occurring. What is peril? correct answer: Perils are the causes of loss insured against in an insurance policy. What are the elements of insurable risk? correct answer: Loss must be 1. due to chance 2....

USAA P&C Insurance Adjuster EXAM QUESTIONS CORRECTLY ANSWERED Perils - ANSWER Causes of loss identified in the policy (Fire, lightening, internal explosion ,Wind, Hail, Collision) Hazard - ANSWER Condition that create or increases the chance or loss or contributes to the loss Physical Hazard - ANSWER Visible ( operational features of a risk) Moral Hazard - ANSWER Intentional dishonesty or illegal actions of a person (arson) Morale Hazard - ANSWER Carelessness or indifference ( attitud...

Primerica Pre-licensing Course Solved Exam |Question and Answers| 100% Correct agent *Ans* legal representative of an insurance company; the classification of producer usually includes agents and brokers; agents are the agents of the insurer insured *Ans* the person covered by the insurance policy; this person may or may not be the policyowner broker *Ans* an insurance agent not appointed by an insurer and is deemed to represent the client insurance policy *Ans* a contract between ...

Industrial Hygiene Science and art devoted to the anticipation, recognition, evaluation, prevention, and control of those environmental factors or stresses arising in or from the workplace which may cause sickness,, impaired health and well being, or significant discomfort among workers or among citizens of the community. Occupational Health and Safety Same definition as "industrial hygiene" ; Science and art devoted to the anticipation, recognition, evaluation, prevention, and contr...

Test Bank For Radiation Protection in Medical Radiography 9th Edition by Sherer | Chapter 1-14 | Complete 2023. Chapter 01: Introduction to Radiation Protection Sherer: Radiation Protection in Medical Radiography, 9th Edition MULTIPLE CHOICE 1. Consequences of ionization in human cells include 1. creation of unstable atoms. 2. production of free electrons. 3. creation of highly reactive free radicals capable of producing substances poisonous to the cell. 4. creation of new biologic mole...

TEST BANK FOR RADIATION, PROTECTION IN MEDICAL RADIOGRAPHY 8th EDITION BY SHERER ALL CHAPTERS INCLUDED 2023/2024. Chapter 01: Introduction to Radiation Protection Sherer: Radiation Protection in Medical Radiography, 8th Edition MULTIPLE CHOICE 1. Consequences of ionization in human cells include 1. creation of unstable atoms. 2. production of free electrons. 3. creation of highly reactive free radicals capable of producing substances poisonous to the cell. 4. creation of new biologi...

Detailed Answer Key 2024, ATI Oyxgenation Practice with 100Verified Questions and Answers. 1. A nurse is conducting a primary survey of a client who has sustained life-threatening injuries due to a motor-vehicle crash. Identify the sequence of actions the nurse should take. (Move the actions into the box on the right, placing them in the selected order of performance. Use all the steps.) C. Open the airway using a jaw-thrust maneuver. D. Determine effectiveness of ventilator efforts. B. Es...

Drones may be equipped with cameras that relay data in real-time Which one of the following uses infrared light to detect nearby objects? - Answer- Lidar AMRM Insurance Company sells insurance in Virginia, North Carolina, South Carolina, and Georgia. The company has compiled a policyowner data base that can be used to send text messages when hurricanes approach. The company provides early warnings, storm updates from the National Weather Service, and hurricane safety measures. The company ...

Risk - Answer- the uncertainty about outcomes, with the possibility that some of the outcomes can be negative. Quantified by knowing the probability of the possible outcomes Probability - Answer- the likelihood that an outcome or event will occur. Probabilities are stated as a decimal figure, a percentage, or a fraction. What are the 2 elements associated with risk? - Answer- uncertainty of outcome + possibility of negative outcome Pure Risk - Answer- a chance of loss or no loss, but no...

How can Insurance companies can afford to pay for an individual's catastrophic loss? Correct Answer The premiums from all policyholders are pooled together. What information is found on the Declarations page? Correct Answer contains the make and model of the covered vehicle described Steven was denied coverage, a jury decieded in his favor. Why are insurance policies considered "Contracts of Adhesion"? Correct Answer Policy language is open to legal interpretation. Susan is a Doctor,...