Risk vs hazard - Study guides, Class notes & Summaries

Colorado POST (Test 1) Questions and Answers Already Passed What is the age requirement for safety belts? Under 16, must be restrained Which title of the CRS covers traffic? Title 42 Title 42 includes Title, Article, Part, Common Code, Points, Fine Are traffic infractions arrestable offenses? No Are traffic violations arrestable offenses? Yes Can a person have a jury trial for traffic infractions or violations? No. Judge trial only A municipal officer cannot write municipal tickets for... ...

EPA Lead Inspector questions and answers latest top score. Lead-based paint (LBP) - correct answers.Any varnish, shallac, or coating that contains either- 1.0 mg/cm2 - 0.5 % by weight - 5000 ppm - Older instruments could not read accurately at 0.7, so the lead standard was updated to 1.0 Dust sample clearance values - correct answers.- Floors: 40 μg/ft2 > 10 μg/ft2 (10 μg/ft2 in NY) - Windows: 250 μg/ft2 > 100 μg/ft2 (50 μg/ft2 in NY) - Window wells (troug...

Industrial Hygiene Science and art devoted to the anticipation, recognition, evaluation, prevention, and control of those environmental factors or stresses arising in or from the workplace which may cause sickness,, impaired health and well being, or significant discomfort among workers or among citizens of the community. Occupational Health and Safety Same definition as "industrial hygiene" ; Science and art devoted to the anticipation, recognition, evaluation, prevention, and contr...

Life & Health Insurance Exam (Answered) With Complete Solution 100% Rated Insurance transfer of risk Speculative risk has a possibility of both loss and gain Pure risk only has a possibility of loss (no gain) Exposure risks for which an insurance company would be liable expressed in units Peril cause of a loss Hazard an increase in the chance of loss Moral hazard arise from people's character (faking a loss) Morale hazard state of mind or careless attitude (accidentally lea...

Risk - Answer- the uncertainty about outcomes, with the possibility that some of the outcomes can be negative. Quantified by knowing the probability of the possible outcomes Probability - Answer- the likelihood that an outcome or event will occur. Probabilities are stated as a decimal figure, a percentage, or a fraction. What are the 2 elements associated with risk? - Answer- uncertainty of outcome + possibility of negative outcome Pure Risk - Answer- a chance of loss or no loss, but no...

What is a fumigant • Gases liquid, solids • Odorless and invisible • Toxic when absorbed or inhaled • Spread & penetrate spaces & materials • Non-selective pesticide (kills all) • Concentration, time, temp & humidity • No residual or post application protection • Forms • Cylinders • CO2: Carbon Dioxide: treat stored commodities, containment structures, and outdoor burrowing rodents • SO2: sulfur dioxide: wine barrels, corks, certain commodities Pros vs Cons ...

Representations and Warranties Representations are statements the applicant makes on an application that are deemed to be true to the applicant's best knowledge. Warranties are statements the insurer makes in the contract. Underwriting vs. Actuarial Departments Two related insurance company functions. Through the process of _________, applications are assessed for insurability and to assign premium rates. The ________ department analyzes data to help estimate future losses and to produ...

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...

South Dakota Crop Insurance Exam with Certified Solutions Insurable Interest occurs when a person stands to lose life or property. In property and casualty insurance an insurable interest must exist at the time of loss. In crop insurance, the owner of the crop has the insurable interest. Risk uncertainty or chance of loss. Can be speculative (an opportunity for gain that may result in a loss) or pure (involves only the possibility of loss or no loss) Exposure potential for loss th...

MHA 707 Exam 3 Questions And Answers moral hazard behaving differently when you know someone else is taking the risk (Induced demand) adverse selection the sicker people likely want more insurance (the healthier, less) pooling of risk sharing risk proportionately among many is a basic insurance concept Non marketability of risks inherent in medicine and medical practice Health insurance Asymmetries of information Healthcare Physician vs. patie...

MHA 707 Study Guide for Exam 3 (C) Questions And Answers What is Asymmetry of information? Why is it important in healthcare? A gap in knowledge from person/group to another. Patient knowledge vs Physician knowledge vs insurance knowledge. What is non-marketability of risk? inherent of medicine and medical practice. Cannot put a price on it Moral Hazard people behaving differently when you know someone else is taking the risk (induced demand- procedures when deductible has bee...