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Exam (elaborations)
AINS 21 | 164 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+
What is insurance? - It's a transfer system, business, and contract. What is a transfer system in insurance? - One party (the insured), transfers the risk of financial loss to another party (the insurer). [Essentially, I'm giving the risk of financial loss to someone else so that I can keep my financial standing.] What are covered losses? - These are costs that insurers pay for and are in the contract that both parties agree to in the beginning (wind damage, car accident, etc). The costs ...
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Exam (elaborations)
AINS 21 | 164
PopularWhat is insurance? - It's a transfer system, business, and contract. What is a transfer system in insurance? - One party (the insured), transfers the risk of financial loss to another party (the insurer). [Essentially, I'm giving the risk of financial loss to someone else so that I can keep my financial standing.] What are covered losses? - These are costs that insurers pay for and are in the contract that both parties agree to in the beginning (wind damage, car accident, etc). The costs ...
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Exam (elaborations)
AINS 21 | 164 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+
What is insurance? - It's a transfer system, business, and contract. What is a transfer system in insurance? - One party (the insured), transfers the risk of financial loss to another party (the insurer). [Essentially, I'm giving the risk of financial loss to someone else so that I can keep my financial standing.] What are covered losses? - These are costs that insurers pay for and are in the contract that both parties agree to in the beginning (wind damage, car accident, etc). The costs ...
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