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Exam (elaborations)
Massachusetts Life and Health Insurance Exam Already Passed
Massachusetts Life and Health 
Insurance Exam Already Passed 
 
Insurance Transfer of Risk 
 
Risk Uncertainty/ Possibility of Loss 
 
Exposure Risks for which the insurance company would be liable 
 
Peril Cause of Loss 
 
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 
 
STARR Method of handling risk 
 
S- Method of handling risks Sha...