Risk and insur - Study guides, Class notes & Summaries

Which one of the following could create an ethical issue? A) Placing Insurance with the insurer paying the highest commission B) Exaggerating a proof of loss C) Lying about educational background D) Not paying premiums when due correct answersA) Placing insurance with the insurer paying the highest commission Unselfish concern for the welfare of others is referred to as A) Politeness B) Empathy C) Altruism D) Consideration correct answersC) Altruism Penny is in the marketing depar...

CEBS - GBA Practice Exam 1 Questions and Answers 1. Which of the following statements correctly describes minimum require- ments that group benefit plans typically must meet in order to be prospec- tively rated on contract renewal?: The more unpredictable the event that will trigger a claim, the larger the minimum group size and premium requirements 2. Which of the following statements correctly describes the term graduation as it applies to mortality tables?: It is a mathematica...

AIDA 182 (LATEST 2023/ 2024 UPDATE) RISK AND INSURANCE ANALYSIS TECHNIQUES EXAM QUESTIONS AND COMPLETE 100% CORRECT ANSWERS 2024 LATEST UPDATE WITH RATIONALES VERIFIED AND WELL EXPLAINED BY EXPERTS AND GRADED A+ ALREADY PASSED!!!!!! WITH 100% GUARANTEED SUCCESS AFTER DOWNLOAD ( ALL YOU NEED TO PASS YOUR EXAMS) Risk quadrants are different from risk classifications. Risk quadrants focus on what? The source of the risk itself and what part of the organization has managed it in the past. An ente...

LOMA 281: Module 1 Lesson 1 - Risk and Insurance complete solution

ERISA - Answer- Employee Retirement Income Security Act 1974 SOC Reports - Answer- Service Organization Controls: for external vendors SOC 1 - Answer- Internal Controls & Financial reports; used by auditors SOC 2 - Answer- Security, availability, processing integrity, confidentiality and privacy controls;used by management, regulators, and others under an NDA SOC3 - Answer- Same as SOC2, but available for public use. Tribble V Edison - Answer- Landmark court case re fiduciary resp...

C11 - Chapter 1 - Introduction to Risk and Insurance Questions & answers

Wisconsin Casualty INSURANCE Exam 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert) A situation in which a person can experience only a loss and no gainpresents what type of risk? ANS Pure Risk 2. A tornado that destroys a property would be an example of what? ANS Peril 3. What type of authority is based on the agent's actions,or words? ANS Apparents 4. If an insurer holds a Certificate of Authority, it is know as what type ofinsurer? ANS Authorized or admitted 5. Wha...

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...

Personal Lines Alabama State Exam questions and answers What type of risk is insuring your home or auto? - answer-Pure risk A good definition for risk is: - answer-The chance of loss The primary insured in