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Principles of Risk Management and Insurance 14th Edition Rejda Test Bank

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Principles of Risk Management and Insurance 14th Edition Rejda Test Bank

Institution
Principles Of Risk Management
Course
Principles of Risk Management









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Scott Harrington Risk Management and Insurance
  • 2003
  • 9780072339703
  • Unknown

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Principles of Risk Management
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Uploaded on
December 21, 2024
Number of pages
15
Written in
2024/2025
Type
Exam (elaborations)
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  • principles of risk management and insurance 14th e
  • principles of risk management and insurance
  • risk management and insurance

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TEST BANK FOR PRINCIPLES OF RISK MANAGEMENT AND INSURANCE 14TH EDITIO
f f f f f f f f f f


REJDAf




TESTBANK f




TEST BANK FOR PRINCIPLES OF RISK MANAGEMENT AND INSURANCE 14TH EDITION REJDA
f f f f f f f f f f f

, TEST BANK FOR PRINCIPLES OF RISK MANAGEMENT AND INSURANCE 14TH EDITION REJDA
f f f f f f f f f f f




PrinciplesfoffRiskfManagementfandfInsurance,f14ef(Rejda)fChapterf
2f InsurancefandfRisk

1) Whichfofftheffollowingfisfafbasicfcharacteristicfoffinsurance?
A) poolingfofflosses
B) avoidancefoffrisk
C) paymentfoffintentionalflosses
D) certaintyfaboutfspecificflossesfthatfwillfoccurf
Answer:f A
Diff:f1
QuestionfStatus:f PreviousfEditionfAACSB:
f ApplicationfoffKnowledge




2) Whichfofftheffollowingfisfimpliedfbyfthefpoolingfofflosses?
A) sharingfofflossesfbyfanfentirefgroup
B) inabilityftofpredictflossesfwithfanyfdegreefoffaccuracy
C) substitutionfoffactualflossfforfaveragefloss
D) increasefoffobjectivefriskf
Answer:f A
Diff:f1
QuestionfStatus:f PreviousfEditionfAACSB:
f ApplicationfoffKnowledge




3) Accordingftoftheflawfofflargefnumbers,fwhatfhappensfasfthefnumberfoffexposurefunitsfincr
eases?
A) Actualfresultsfwillfincreasinglyfdifferffromfprobablefresults.
B) Actualfresultsfwillfmorefcloselyfapproachfprobablefresults.
C) Nondiversifiablefriskfwillfdecrease.
D) Objectivefriskfwillfincrease.f
Answer:f B
Diff:f1
QuestionfStatus:f PreviousfEditionfAACSB:
f ApplicationfoffKnowledge




4) Accordingftoftheflawfofflargefnumbers,fwhatfshouldfhappenfasfanfinsurerfincreasesfthefnu
mberfoffunitsfinsured?
A) Thefamountfthefinsurerfexpectsftofpayfinfclaimsfshouldfdecrease.
B) Underwritingfexpensesfshouldfdecrease.
C) Actualfresultsfwillfmorefcloselyfapproachfexpectedfresults.
D) Thefinsurer'sfprofitabilityfshouldfbecomefmorefvariable.f
Answer:f C
Diff:f1
QuestionfStatus:f PreviousfEditionfAACSB:
f ApplicationfoffKnowledge




1
Copyrightf©f2020fPearsonfEducation,fInc.
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