C11 - Principles & Practice Exam | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
What are the 3 general types of risk? : PeoPLe are risk! Personal, Property, Liability What does "insurance" mean? : When something gets cRuMPLEd, Indemnify! Indemnification, Risk, Money, Perils, Loss, Exposure How does insurance provide security? : It WIIPs risks ***********! Worries, Inconvenience, Indemnification, Premiums What do risk managers do? : They eat kIMChi! Identify, Measure, Control How does the insurance industry contribute to loss prevention? : It DiPs to RId us of RiSk of Fire by Fighting and Reducing it and GeLs governments on Buildings and Autos then even lowers Crime! Decreased Premiums, 2 | P a g e Reduced Inconvenience, Reduced Suffering, Fire, Fire Houses, Recommendations, Government Lobby, Building Standards, Automobile Industry, Crime As an adjuster, what do you think people need to know to understand the benefits of insurance? : It provides SECurity and exCITes Job creation and Loss Prevention! Security, Easy payments, Credit, Capital, Investment, Taxes, Jobs, Loss Prevention Define "Rate." : 1. -ppu/yr of insurance 2. -either as a percentage or monetary value Define "Premium." : 1. -total cost of an insurance policy 2. -calculated as "rate" X "amount insured"
Información del documento
- Subido en
- 22 de abril de 2024
- Número de páginas
- 19
- Escrito en
- 2023/2024
- Tipo
- Examen
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- Preguntas y respuestas
