NYS Life, accident, and health
insurance Exam 2025 COMPLETE
EXAM QUESTIONS AND VERIFIED
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REAL EXAM QUESTIONS| 100%
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Terms in this set (150)
a mutual interchange of rights and
Reciprocal
privileges
An event that offers no possibility of
Pure Risk gain; it offers only the chance of a
loss or no loss, no gain
Speculative Risk Chance of loss or gain
, Conditions or situations that increase
Hazards the probability of an insured loss
occurring.
Morale Hazard indifference
Three types of Physical, Moral, Morale
hazards
Causes of loss Perils
The reduction, decrease, or
disappearance of value of the person
Loss
or property insured in a policy, by a
peril insured against.
hazard lead to loss which lead to insurance
perils which lead
to what
Planned assumption of risk by an
insured through the use of
Risk Retention
deductibles, co-payments, or self-
insurance.
Most effective transfer
way to handle risk
Adverse if you are a higher risk, your premiums
Selection will be more
, Which risk is NOT Speculative
insurable?
The larger the number of people with
Law of Large
a similar exposure to loss, the more
Numbers
predictable actual loss will be
Nonparticipating Stock companies
Participating Mutual companies
Mutual Policyowners
companies are
owned by
Certificate of same as license
Authority
Insurers who meet the state's financial
Authorized/Admit
requirements and are approved to
ted
transact business in the state
An insurance company that is
Domestic Insurer
incorporated in the state.
An insurance company that is
Foreign Insurer
incorporated in another state
insurance Exam 2025 COMPLETE
EXAM QUESTIONS AND VERIFIED
ANSWERS |RECENTLY TESTING
REAL EXAM QUESTIONS| 100%
SOLVED!!
Save
Terms in this set (150)
a mutual interchange of rights and
Reciprocal
privileges
An event that offers no possibility of
Pure Risk gain; it offers only the chance of a
loss or no loss, no gain
Speculative Risk Chance of loss or gain
, Conditions or situations that increase
Hazards the probability of an insured loss
occurring.
Morale Hazard indifference
Three types of Physical, Moral, Morale
hazards
Causes of loss Perils
The reduction, decrease, or
disappearance of value of the person
Loss
or property insured in a policy, by a
peril insured against.
hazard lead to loss which lead to insurance
perils which lead
to what
Planned assumption of risk by an
insured through the use of
Risk Retention
deductibles, co-payments, or self-
insurance.
Most effective transfer
way to handle risk
Adverse if you are a higher risk, your premiums
Selection will be more
, Which risk is NOT Speculative
insurable?
The larger the number of people with
Law of Large
a similar exposure to loss, the more
Numbers
predictable actual loss will be
Nonparticipating Stock companies
Participating Mutual companies
Mutual Policyowners
companies are
owned by
Certificate of same as license
Authority
Insurers who meet the state's financial
Authorized/Admit
requirements and are approved to
ted
transact business in the state
An insurance company that is
Domestic Insurer
incorporated in the state.
An insurance company that is
Foreign Insurer
incorporated in another state
