Florida 2-15 Insurance 2025 Update
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Terms in this set (100)
,In the insurance C. The concept of insurance
business, risk can developed from the need to minimize
best be defined the adverse effects of risk associated
as: with the probability of financial loss.
A. sharing the
possibility of a
loss
B. uncertainty
regarding the
future
C. uncertainty
regarding
financial loss
D. uncertainty
regarding when
death will occur
Which of the A. Only pure risks are insurable
following risks is because they involve only the chance
insurable? of loss. They are pure in the sense that
they do not mix both profits and
A. pure risks losses. Insurance is concerned with
B. gambling the economic problems created by
C. speculative pure risks.
risks
D. investing
,Buying insurance B. Buying insurance is one of the most
is one of the most effective ways of transferring risk.
effective ways of Through the insurance contract, the
burden of carrying the risk and
A. avoiding risk indemnifying the financial loss is
B. transferring risk transferred from the individual to the
C. reducing risk insurance company.
D. retaining risk
, Which of the B. The function of insurance is to
following best safeguard against financial loss by
describes the having the losses of few paid by the
function of contributions of many who are
insurance? exposed to the same risk.
A. it is a form of
legalized
gambling.
B. it spreads
financial risk over
a large group to
minimize the loss
to any one
individual
C. it protects
against living too
long
D. it creates and
protects risks
|Actual Exam Set Questions And
Verified Answers (Correct solutions)
| Get It 100% Accurate!!
Save
Terms in this set (100)
,In the insurance C. The concept of insurance
business, risk can developed from the need to minimize
best be defined the adverse effects of risk associated
as: with the probability of financial loss.
A. sharing the
possibility of a
loss
B. uncertainty
regarding the
future
C. uncertainty
regarding
financial loss
D. uncertainty
regarding when
death will occur
Which of the A. Only pure risks are insurable
following risks is because they involve only the chance
insurable? of loss. They are pure in the sense that
they do not mix both profits and
A. pure risks losses. Insurance is concerned with
B. gambling the economic problems created by
C. speculative pure risks.
risks
D. investing
,Buying insurance B. Buying insurance is one of the most
is one of the most effective ways of transferring risk.
effective ways of Through the insurance contract, the
burden of carrying the risk and
A. avoiding risk indemnifying the financial loss is
B. transferring risk transferred from the individual to the
C. reducing risk insurance company.
D. retaining risk
, Which of the B. The function of insurance is to
following best safeguard against financial loss by
describes the having the losses of few paid by the
function of contributions of many who are
insurance? exposed to the same risk.
A. it is a form of
legalized
gambling.
B. it spreads
financial risk over
a large group to
minimize the loss
to any one
individual
C. it protects
against living too
long
D. it creates and
protects risks
