Rmin 4000 brown uga Study guides, Class notes & Summaries

RMIN 4000 Test 1 Brown UGA

RMIN 4000 Test 1 Brown UGA Study Guide 2024 with complete solution

RMIN 4000 Exam 2 - UGA Daniel Brown Questions with verified correct answers.

RMIN 4000 UGA Brown Test 4 Exam Review-with 100% verified solutions

RMIN 4000 Test 1 Brown UGA Questions with verified correct answers - complete solution 2024

RMIN 4000 UGA Brown Exam 3 Latest Version Graded A+ principle of indemnity The insurer agrees to pay no more than the actual amount of the loss (prevent the insured from profiting from loss) replacement cost (RC) the cost to replace property with an item of like kind and quality (similar workmanship and materials) (not the same as historical cost!) actual cash value (ACV) - replacement cost - depreciation - in property insurance, indemnification is usually based on the actual cash...

RMIN 4000 UGA- Brown- Exam 1 Questions And Answers Rated A definition of risk A calculated possibility of a negative outcome calculated possibility probabilistic outcome, ranges from 0-1 (0-100%) negative outcome loss, must be quantifiable ($) frequency -"how often does a loss occur?" -number of losses in a certain time period -probability of a loss Severity -"how much does it cost when a loss occurs?" - dollar amount how to calculate frequency # of losses/# of exposure...