Florida Personal Lines Certified Questions And CORRECT Answers
Risk _________ is when one takes action to prevent or reduce potential loss.Reduction When the number of similar units increases, the predictability of the loss improves according to the rule of _____ ________.Large Numbers The insuring of risks that are more prone to losses than average risks is known as?Adverse Selection A ___________ contract is an arrangement where one insurer transfers or shares risks with another insurer.Reinsurance _____________ Reinsurance is accepted or rejected by a case by case basis.Facultative The fact that an insured would p
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