Uncertainty avoidance Study guides, Class notes & Summaries

FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES) Insurance - CORRECT ANSWER-Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. Life Insurance - CORRECT ANSWER-Is based on actuarial or mathematical principles and guarantees a specified sum of money upon the death of the person who is insured. Annuities - CORRECT ANSWER-Provid...

Chapter 3 Emphasizing Informal Institutions Cultures Ethics and Norms TRUEFALSE 1. According to the institution-based view, informal institutions must be sought when formal institutions fail. (A) True (B) False Answer : (A) 2. The cultural norms of a country is an example of an informal institution. (A) True (B) False Answer : (A) 3. Informal institutions are based on the rules and legal systems of an economy. (A) True (B) False Answer : (B) 4. Informal institutions are closely relat...

policy owner - usually, but not always the person covered by the policy beneficiary - the person who is paid when a claim is submitted agent/producer - acts as a legal representative of the insurance company broker - representative of the Insured, not the insurance company risk - The chance or uncertainty of loss Pure risk - the chance of experiencing a loss (without the possibility of gain). Only downside, no upside. Speculative risk - s the chance of loss one accepts in the hope of re...

CPCU 500,Becoming a Leader in Risk Management and Insurance Exam | Questions and Verified Answers| 100% Correct| Grade A (Latest 2023/ 2024 Update) Q: Which one of the following is an element of a loss exposure? Choose one answer. A. The verification of risk B. A cause of loss C. The probability of a loss D. The occurrence of a loss Answer: B. A cause of loss Q: The statement "There is a 5 percent chance that John will be injured in an automobile accident while drivi...

TEST BANK Enterprise Risk Management S - The Marketplace to Buy and Sell your Study Material 1 RSK2601 TEST BANK Question 1 Which one of the following is a benefit of effective risk and opportunity management? 1) Improved profit certainty 2) Increased shareholder value 3) Increased stakeholder confidence Correct option 3 4) Lower economic returns Explanation Improved cost certainty, sustainable shareholder value, increased stakeholder confidence and higher economic returns...

FLORIDA INSURANCE 2-14 EXAM TERMS QUESTIONS AND ANSWERS (100% SCORES) Insurance - CORRECT ANSWER-Financial protection against loss or harm - An arrangement by which company gives customers financial protection against loss or harm such as theft or illness in return for premium payments. Life Insurance - CORRECT ANSWER-Is based on actuarial or mathematical principles and guarantees a specified sum of money upon the death of the person who is insured. Annuities - CORRECT ANSWER-Provid...

RMIN EXAM 1 CH 1-4 QUESTIONS & ANSWERS The property and liability insurance industry is characterized by a receptive pattern of loose underwriting standards with low premiums followed by tight underwriting standards with high premiums. This repetitive patter is called the: a. underwriting cycle b. underwriting by exception method c. business cycle d. account underwriting method - ANS-a. underwriting cycle A situation or circumstance in which a loss is possible, regardless of whether a ...

ROU Written Exam - OOD 2023 Questions and Answers with complete solution What does RADAR stand for? Radio Detection and Ranging What are the steps to Situational Awareness? Appraise, plan, execute, monitor, revise Name 3 purposes of RADAR Navigation, collision avoidance, situational awareness Radar helps reduce uncertainty in the collision avoidance process. What other information may be used in the collision avoidance process? VHF radio + visual contact What control would you use to ...

WGU C211 Study Guide 2023 Questions and Answers 100% CorrectWGU C211 Study Guide 2023 Questions and Answers 100% Correct Views of globalization (Chp 1.4) - ANSWER-1. It's a new phenomenom, starting in the late 20th century. 2. It's a long term part of human history. 3. Neither recent nor one directional, it's a pendulum that swings back and forth. Strategic goal = Natural resource—seeking - ANSWER-Location specific advantage = Possession of natural resources and related transport an...

Uncertainty Avoidance correct answers attribute that describes the extent to which a society feels threatened by uncertainty and ambiguous situations and tries to avoid them Personality Job-Fit Theory correct answers a theory that identifies 6 personality types and proposes that the fit between personality type and occupational environment determines satisfaction/turnover Attribution Theory correct answers an attempt to determine whether an individual's behavior is internally or externall...