Exam (elaborations)
NJ Property State Exam 2023 Questions and Answers. (Correct Answers)
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Risk - ANSWER-the chance or uncertainty of loss Risk - ANSWER-used within the insurance industry to refer to the subject of the insurance policy Possibility of loss - ANSWER-the concept of risk involves ___________________ Insurance - ANSWER-a formal social device used to accomplish the transfer of risk from an insured to the insurer Insurance policy - ANSWER-a legal contract in which the premium paid represents a small certain cost exchanged so that the insurer will cover the possibility of a large financial loss pure risks - ANSWER-risks which involve the possibility of loss only pure risks - ANSWER-can legally be the subject of an insurance policy
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Institution
NJ Property State
Course
NJ Property State
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- Institution
- NJ Property State
- Course
- NJ Property State
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- Uploaded on
- July 23, 2023
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- Written in
- 2022/2023
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- Questions & answers
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nj property state exam 2023 questions and answers
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