___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
MASSACHUSETTS LIFE AND HEALTH INSURANCE
EXAM 2025 QUESTIONS AND ANSWERS
Insurance
Transfer of Risk
Risk
Uncertainty/ Possibility of Loss
Exposure
Risks for which the insurance company would be liable
Peril
Cause of Loss
___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
,___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
Hazard
Something that causes an increase in the chance of loss
Physical Hazard
Hazard that can be seen
Moral Hazard
A belief that intentionally causing a loss is acceptable
Morale Hazard
Carelessness
___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
,___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
STARR
Method of handling risk
S- Method of handling risks
Sharing
T- Method of handling risk
Transfer
A- Method of handling risk
Avoidance
___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
,___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
R- Method of handling risk
Retention
R- Method of handling risk
Reduction
Contract Policy
An agreement between the insured and the insurer
Law of Large Numbers
The larger the group, the more accurate losses can be predicted
CANHAM Risks
___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
MASSACHUSETTS LIFE AND HEALTH INSURANCE
EXAM 2025 QUESTIONS AND ANSWERS
Insurance
Transfer of Risk
Risk
Uncertainty/ Possibility of Loss
Exposure
Risks for which the insurance company would be liable
Peril
Cause of Loss
___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
,___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
Hazard
Something that causes an increase in the chance of loss
Physical Hazard
Hazard that can be seen
Moral Hazard
A belief that intentionally causing a loss is acceptable
Morale Hazard
Carelessness
___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
,___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
STARR
Method of handling risk
S- Method of handling risks
Sharing
T- Method of handling risk
Transfer
A- Method of handling risk
Avoidance
___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
,___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
R- Method of handling risk
Retention
R- Method of handling risk
Reduction
Contract Policy
An agreement between the insured and the insurer
Law of Large Numbers
The larger the group, the more accurate losses can be predicted
CANHAM Risks
___________________________________________________________________________________________________________________________________
)*_*$_!*$__________________________)(&)$*&!)($)(*&&*^(&(#()))))))))))))))))))))))))))))))____________________________________________________________________
MASSACHUSETTS LIFE AND HEALTH INSURANCE EXAM 2025 QUESTIONS AND ANSWERS.pdf!#()*_*$_!*$__________________________)(&)$*&!)($)(*&&*^
