Rmin 4000 exam 1 2024 - Study guides, Class notes & Summaries
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RMIN 4000 Exam 1 Questions & Answers (Graded A+)
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Frequency - ANSWER-How often does a loss occur? Frequency = Number of Losses / Number of Exposures Severity - ANSWER-How much does it cost when a loss does occur? Severity = Total Losses ($) / Number of Losses Moral Hazard - ANSWER-The presence of insurance changes the behavior of the insured. Morale (Attitudinal) Hazard - ANSWER-Carelessness or indifference to a loss, which increases the frequency and/or severity of a loss. Legal Hazard - ANSWER-Characteristics of legal system or ...
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RMIN 4000 Exam 1 Latest 2024 Graded A
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RMIN 4000 Exam 1 Latest 2024 Graded A
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RMIN 4000 Exam 1 Latest 2024 Graded A
- Exam (elaborations) • 20 pages • 2024
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RMIN 4000 Exam 1 Latest 2024 Graded A
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