FIN515 UPDATED Exam Questions and CORRECT Answers
Peril - The cause of a loss Example of Peril - a collision hazard - a condition that increases the chance of loss Ex of physical hazard - A rainy condition, which increases the chance of an automobile accident, is an example of a: physical hazard - physical condition that increases the chance of loss Moral Hazard - Claiming a theft happened when it didn't to collect insurance proceeds is an example of a: moral hazard - dishonesty or character defects in an individual that increase the frequency or severity of loss
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