LOMA 281
LOMA 281
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LOMA 281 Module 1 Latest Update Graded A+
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LOMA 281 Module 1 Latest Update 
 
Graded A+ 
 
Risk the possibility of an unexpected result. 
 
Premium A specified amount of money an insurer charges in exchange for its agreement to 
pay a policy benefit when a specific loss occurs. 
 
Insurance company A company that provides protection against the risk of financial loss 
caused by specific events. 
 
Life insurance A type of insurance under which the insurer promises to pay a death benefit 
upon the death of a named person. 
 
Annuity A fin...
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LOMA 281 Module 2 with Complete Solutions
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LOMA 281 Module 2 with Complete Solutions 
 
 
Which type of whole life insurance policy will best be able to give Arabella lifetime protection without straining her retirement income? 
 
Single-premium whole life policy 
Limited-payment whole life policy 
Continuous-premium whole life policy - Answer-B 
 
Financial needs life insurance can meet - Answer-- paying household expenses 
- covering outstanding debts 
- Paying outstanding medical, hospital, and funeral expenses, 
- providing financia...
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LOMA 281 Module 2 Exam || Questions & Answers (Graded A)
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LOMA 281 Module 2 Exam || Questions & Answers (Graded A)LOMA 281 Module 2 Exam || Questions & Answers (Graded A)LOMA 281 Module 2 Exam || Questions & Answers (Graded A)LOMA 281 Module 2 Exam || Questions & Answers (Graded A)
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LOMA 281 Module 4 Questions with Correct Answers
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LOMA 281 Module 4 Questions with Correct Answers 
 
Group Insurance - Answer-A method of providing life or health insurance coverage for a group of people under one insurance contract. 
 commonly provide: 
- life insurance, medical expense insurance, disability insurance, and dental insurance coverage 
 
Master group insurance contract - Answer-An insurance contract that insures a number of people. 
 
Group insured - Answer-An individual covered by a group insurance policy. 
 
Group policyholder...
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LOMA 281 Practice Test with Complete Solutions
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LOMA 281 Practice Test with Complete Solutions 
 
Pure risk - Answer-Risks that involve either a loss or no loss 
 
Speculative risk - Answer-Risk that can result in a loss, gain or no change 
 
Insurance - Answer-A method for transferring risk from an individual to an insurance company 
 
Premium - Answer-The amount that the insured pays in exchange for a promise of money 
 
Risk pooling - Answer-Insurers collect premiums from all insured people and spread the cost of the relatively few anticip...
And that's how you make extra money
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LOMA 281: Module 1 Lesson 1 - Risk and Insurance Comprehensive Exam || Questions & Answers (Graded A)
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LOMA 281: Module 1 Lesson 1 - Risk and Insurance Comprehensive Exam || Questions & Answers (Graded A) 
 
LOMA 281: Module 1 Lesson 1 - Risk and Insurance Comprehensive Exam || Questions & Answers (Graded A) 
 
LOMA 281: Module 1 Lesson 1 - Risk and Insurance Comprehensive Exam || Questions & Answers (Graded A)
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LOMA 281 Term Life Insurance Module Exam || Questions & Answers (Graded A)
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LOMA 281 Term Life Insurance Module Exam || Questions & Answers (Graded A)LOMA 281 Term Life Insurance Module Exam || Questions & Answers (Graded A)LOMA 281 Term Life Insurance Module Exam || Questions & Answers (Graded A)
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LOMA 281 Module 2 Exam (2023/24) || All Questions & Answers (Rated A+)
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LOMA 281 Module 2 Exam (2023/24) || All Questions & Answers (Rated A+) 
LOMA 281 Module 2 Exam (2023/24) || All Questions & Answers (Rated A+) 
 
Which type of whole life insurance policy will best be able to give Arabella lifetime protection without straining her retirement income? 
 
Single-premium whole life policy 
Limited-payment whole life policy 
Continuous-premium whole life policy - ANSWER - B 
 
Financial needs life insurance can meet - ANSWER - - paying household expenses 
- covering ...
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LOMA 281: Meeting Customer Needs with Insurance Annuities Test || Questions & Answers (100% Verified)
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LOMA 281: Meeting Customer Needs with Insurance Annuities Test || Questions & Answers (100% Verified) 
LOMA 281: Meeting Customer Needs with Insurance Annuities Test || Questions & Answers (100% Verified) 
 
Assume you're applying for a life insurance policy. During his presentation, the insurance agent makes the following statements. Are they all true? (Select all that apply.) 
 
a. People buy insurance to reduce the financial risk they face but not every type of risk is insurable. 
 
b. both ...
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LOMA 281 Module 4 Study Questions and Answers 2023-2024
- Exam (elaborations) • 29 pages • 2023
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Group Insurance - A method of providing life or health insurance coverage for a group of people under one insurance contract. 
 commonly provide: 
- life insurance, medical expense insurance, disability insurance, and dental insurance coverage 
 
Master group insurance contract - An insurance contract that insures a number of people. 
 
Group insured - An individual covered by a group insurance policy. 
 
Group policyholder - The person or organization that decides what types of group insurance ...
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