RMIN 4000 FINAL QUESTIONS AND ANSWERS 100% VERIFIED

RMIN 4000 FINAL QUESTIONS AND ANSWERS 100% VERIFIEDRMIN 4000 FINAL QUESTIONS AND ANSWERS 100% VERIFIEDRMIN 4000 FINAL QUESTIONS AND ANSWERS 100% VERIFIEDRMIN 4000 FINAL QUESTIONS AND ANSWERS 100% VERIFIED Loss exposure - ANSWER-A situation or circumstance in which the loss is possible, regardless of whether a loss occurs A physical hazard - ANSWER-Dense fog that increases the chance of an automobile accident is an example of Subjective risk - ANSWER-Uncertainty based on a person's mental condition or state of mind Liability risk - ANSWER-James is concerned that if he injures someone or damages someone's property he could be held legally responsible and required to pay damages. This type of risk is called When the applicants with a higher-than-average chance of loss seek insurance at a standard rate - ANSWER-Adverse selection occurs when