A moral hazard - Study guides, Class notes & Summaries

WebCE Property & Casualty Prep Exam Questions and Answers 2023 Risk Chance of loss 5 Risk or Loss Factors 1. Risk 2. Loss 3. Exposure 4. Peril 5. Hazard Insurance allows: Individual or group to transfer over to insurance company the risk of financial loss from a destructive event Fundamental purpose of insurance is: To indemnify policyholder against covered losses or restore policyholder back to same financial position they were in before Insurance companies may ...

RMIN 4000 UGA Test 1. Chapters 1-3 Questions and Answers Already Passed 1) Traditionally, risk has been defined as A) any situation in which the probability of loss is one. B) any situation in which the probability of loss is zero. C) uncertainty concerning the occurrence of loss. D) the probability of a loss occurring. C 2) Objective risk is defined as A) the probability of loss. B) the relative variation of actual loss from expected loss. C) uncertainty based on a person's menta...

CALIFORNIA Life, Accident and Health Final Exam Questions and Answers 100% VerifiedCALIFORNIA Life, Accident and Health Final Exam Questions and Answers 100% VerifiedCALIFORNIA Life, Accident and Health Final Exam Questions and Answers 100% Verified A moral hazard - ANSWER-is a dishonest person (lacking in morals) A morale hazard - ANSWER-a careless person. A peril - ANSWER-is a cause of loss Pure risk - ANSWER-is insurable & includes only a chance of loss.

RMIN 4000 Exam 1 Brown Latest Update Graded A+ Textbook definition of RISK Uncertainty concerning the occurrence of a loss Better definition of RISK A calculated possibility of a negative outcome Calculated Possibility 0 = Impossible event (NO RISK) 0.5 = Highest Risk (Most Uncertainty) 1 = 100% Certain Event (NO RISK Negative Outcome Loss Losses must be __________? Quantifiable Pure Risk States Loss or No Loss Examples of Pure Risks Fire, Cancer, Dog bites a ...

Risk - Answer-chance of loss Peril - Answer-cause of loss (fire, wind, theft, etc) Direct Loss - Answer-the immediate result of an event caused by a covered peril Indirect Damage Loss - Answer-loss resulting from a direct loss to property (income loss expense resulting from the inability to use damaged property) Exposure - Answer-the state of being subject to risk Hazard - Answer-a condition that increased the likely occurrence of a peril or the likely severity of a loss (moral, m...

Indirect Loss - Answer- A secondary loss that follows from a direct loss to insured property from a covered peril. Ex. Hotel expenses incurred by the insured while a fire-damaged home is repaired is an indirect loss that follows the direct loss of the home. Exclusive Agency System - Answer- An insurance distribution system in which producers (agents) represent a single company. Ex. In the exclusive agency system, insurers use independent contractors (exclusive agents) that represent only on...

NC Health Insurance Exam Pearson Vue Latest Graded A+ Pure Risk chance of loss or no loss but not gain insurable Speculative Risk there is possibility of loss but of gain no insurablility exposure unit subject to loss peril cause of loss life insurance death Health insurance accident and sickness hazard increases the likelihood or severity of loss Three types of hazard physical, moral, morale physical hazard arise from the inherent characteristi...

RMIN 4000- Exam 1 Latest Update 100% Solved things of value (assets) that could be lost Exposures Examples of exposures when driving car: Car health life money future income contents (stuff) freedom license things that could happen to these assets Perils Examples of perils when driving car: Car accident license revoked act of god breakdown vandalism maintenance theft lawsuit what you do to protect these assets and/ or prevent/ reduce losses risk management...

5/3/19 ATI FUNDAMENTALS EXAM 1. CHAPTER 1: HEALTH CARE DELIVERY SYSTEMS A. Components of Health care systems a. Participants 1. Consumers- clients 2. Providers a. Licensed providers: registered nurses, license practical (or vocational) nurses (LPN), advanced practice nurses (APN), medical doctors, pharmacists, dentists, dietitians, physical/respiratory/occupational therapists, etc b. Unlicensed providers: assistive personal b. Settings 1. Hospitals, homes, skilled nursing, assisted living, schoo...

WGU C425 Final Exam Questions With 100% Verified Answers | Latest Update 2023/2024. What Is Health? - ANSWER--U.S. health care has followed a medical/biomedical model. - It assumes illness or disease thereby emphasizing clinical diagnosis and medical in the treatment of disease or its symptoms. - It emphasizes • Clinical diagnosis and medical interventions to: - Treat disease or its symptoms. - Have a clinical diagnosis and medical interventions. Largely governed by the medical model/...