FIN 230 Lecture Notes - Lecture 10: Renews-Cappahayden, Natural Number, Vehicle Insurance
6 Jan 2016
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Answer avoidance. hazard risk. retention. transfer. loss prevention. combination. pure risk. 2: the elements of an ideal insurable risk. 3: for the insurance company, a meaningful measure of risk is. Answer the probability that a loss will or will not occur. the possible deviation of actual from predicted results. the size of the population insured. the relationship of premium to average loss. none of the above. 4: the type of insurance that is characterized by individual equity and contractual arrangements is generally referred to as. Answer social insurance. private insurance. property-liability insurance. public guarantee insurance programs. government insurance programs. individual life insurance. public welfare insurance. none of the above. Answer is classified as a social insurance coverage. is classified as a compulsory-private insurance coverage. may be social or private, depending on other characteristics. is usually classified as a public guarantee program. none of the above.
