Loma 281 module 1 exam - Study guides, Class notes & Summaries
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LOMA 281 Module 1 Study Guide Exam Questions with Answers 100% Verified 2024
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LOMA 281 Module 1 Study Guide 
Exam Questions with Answers 100% 
Verified 2024 
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...
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LOMA 281 Module 1 Study Guide Exam Questions with Answers 100% Verified 2024
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LOMA 281 Module 1 Study Guide 
Exam Questions with Answers 100% 
Verified 2024 
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...
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LOMA 281 Exam Questions with Correct Answers

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LOMA 281 Practice Test with Complete Solutions

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LOMA 281 Test Questions with Correct Answers

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LOMA 281 Module 1 Questions with Correct Answe
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Bundle For LOMA 281 Exam Questions with Correct Answers
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LOMA 281 Exam Questions with Correct Answers

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LOMA 281 Practice Test with Complete Solutions

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LOMA 281 Test Questions with Correct Answers

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LOMA 281 Module 1 Questions with Correct Answe
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LOMA 281 Module 1 Exam Study Guide.
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LOMA 281 Module 1 Exam Study Guide. 
Risk - answerthe possibility of an unexpected result. 
Premium - answerA specified amount of money an insurer charges in exchange for its 
agreement to pay a policy benefit when a specific loss occurs. 
Insurance company - answerA company that provides protection against the risk of financial 
loss caused by specific events. 
Life insurance - answerA type of insurance under which the insurer promises to pay a death 
benefit upon the death of a named person. 
...
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LOMA 281: Module 1 Lesson 4 EXAM QUESTIONS & ANSWERS 100% CORRECT!!
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premiums - ANSWERthe amount paid to the insurer in exchange for the promise to pay benefits when they become due 
 
actuaries - ANSWERspecialize in putting a price tag on risk. the risk must be high enough to 
 
pay future benefits to customers 
cover the insurers cost of administering the product 
enable to insurer to make a reasonable profit. 
 
mortality rates, which are the death benefit value 
 
Surrender benefits paybale when a policy owner surrenders a policy for its cash surrender value...
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LOMA 281 Module 1 Study Guide Exam Questions with Answers 100% Verified 2024
- Exam (elaborations) • 6 pages • 2024
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LOMA 281 Module 1 Study Guide 
Exam Questions with Answers 100% 
Verified 2024 
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...
-
LOMA 281 Module 1 Exam Questions And Answers Module 1 Exam Questions And Answers
- Exam (elaborations) • 6 pages • 2024
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LOMA 281 Module 1 Exam Questions And Answers 
 
 
Actuaries - Answer-A financial professional with expertise in the mathematics of finance, risk, and insurance. 
 
/.Aleatory contract - Answer-A contract for which one party provides something of value to another party in exchange for a conditional promise. 
 
/.Annuity - Answer-A financial product by which an insurer, in return for receiving a premium, promises to make periodic payments to a named person or entity. 
 
/.Antiselection - Answer-A...
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