LIFE, HEALTH & VARIABLE
ANNUITY (2-15 EXAM)
QUESTIONS AND ANSWERS
LATEST UPDATE 2024/2025 (100%
Solved)
Save
Terms in this set (233)
,Insurance Law of Averages
concept
founded on the
ability to predict
the approximate
number of
deaths or
frequency of
disabilities
within a certain
group during a
specific time.
An owner is Moral Hazard
worried that
employees will
help themselves
to products on
the shelf
without paying
for them. This is
an example of
what type of
hazard?
,Won't fly an Risk Avoidance
airplane, never
drives a car and
keeps money
out of the stock
market is known
as what type of
risk ?
Uncertainty Risk
regarding
financial loss
best describes
this term?
Buying Transferring Risk
insurance is one
of the most
effective ways
of...
, Spreads The function of Insurance
financial risk
over a large
group to
minimize the
loss to any one
individual.
A Tornado is an Peril
example of a
what type of
hazard?
Tom buys his Risk Reduction
wife a $50,000
diamond ring.
When she is not
wearing it he
locks it up in his
safe. This is an
example of
what type of
risk?
ANNUITY (2-15 EXAM)
QUESTIONS AND ANSWERS
LATEST UPDATE 2024/2025 (100%
Solved)
Save
Terms in this set (233)
,Insurance Law of Averages
concept
founded on the
ability to predict
the approximate
number of
deaths or
frequency of
disabilities
within a certain
group during a
specific time.
An owner is Moral Hazard
worried that
employees will
help themselves
to products on
the shelf
without paying
for them. This is
an example of
what type of
hazard?
,Won't fly an Risk Avoidance
airplane, never
drives a car and
keeps money
out of the stock
market is known
as what type of
risk ?
Uncertainty Risk
regarding
financial loss
best describes
this term?
Buying Transferring Risk
insurance is one
of the most
effective ways
of...
, Spreads The function of Insurance
financial risk
over a large
group to
minimize the
loss to any one
individual.
A Tornado is an Peril
example of a
what type of
hazard?
Tom buys his Risk Reduction
wife a $50,000
diamond ring.
When she is not
wearing it he
locks it up in his
safe. This is an
example of
what type of
risk?
