Moral hazard Samenvattingen, Aantekeningen en Examens

NY Independent General Adjuster Exam - Series 17-70 Questions and Answers 100% Pass Dram Shop Liability refers to: Liquor Law Liability. The insured has suffered a covered loss under his DP-3 dwelling form. He fails to protect the property from further loss. The additional loss that occurs as a result of his inactions may be denied because of what clause in the policy? Neglect. To be eligible for the New York assigned risk auto plan a person must: Hold a valid driver's license. Any insurance...

Risk management Exam 1 driver (updated - 2024) || Complete Solutions (100% Correct) Risk management Exam 1 driver (updated - 2024) || Complete Solutions (100% Correct) types of risk - ANSWER - Pure risk Speculative risk Subjective risk pure risk - ANSWER - Simply no loss or loss *insurance companies only deal with spectulative risk - ANSWER - loss or no loss or potential gain subjective risk - ANSWER - our attitudes towards risk (risk tolerance) *more difficult than pure and spe...

FINN 3623 Risk Management Exam 1 (2024) || With Complete Answers (Graded A+) FINN 3623 Risk Management Exam 1 (2024) || With Complete Answers (Graded A+) PROTECT & ENHANCE the assets of an organization - ANSWER - What is the primary jobs/functions of the chief risk manager? peril - ANSWER - a cause of loss insurance - ANSWER - a mechanism of risk transfer hazard - ANSWER - anything that increases the probability of or severity of a loss physical hazard - ANSWER - a literal obstac...

Perils correct answer: the cause of loss Policy Owner correct answer: the person who has the rights and privileges in the policy Risk correct answer: Uncertainty or chance of loss -Pure Risk(Insurable) -Speculative(Uninsurable) Insured correct answer: the person covered by the insurance policy insurer correct answer: a company that issues an insurance policy Law of large numbers correct answer: the larger the number of people with the same exposure to loss, the more predic...

MHA 707 Exam C Questions & Answers 2023/2024 Moral Hazard - ANSWER-When the act of insuring an event increases the likelihood that the event will happen behaving different when you know someone is taking the risk (induced demand) Adverse Selection - ANSWER-the situation in which one party to a transaction takes advantage of knowing more than the other party to the transaction the sicker people likely want more insurance, compared to those who are healthy Pooling of Risk - ANSWER...

Research indicates that the 2014 expansion of Medicaid has led to a number of unintended consequences including: - higher per capita spending on the expansion population than anticipated. Which of the following statements is true about the Medicaid program? - The majority of total outlays are for the elderly and disabled. One of the reasons the 2008 Oregon Experiment was so important is because it(s): - experimental design included random selection of the treatment and control groups. Whi...

TEST BANK Enterprise Risk Management S - The Marketplace to Buy and Sell your Study Material 1 RSK2601 TEST BANK Question 1 Which one of the following is a benefit of effective risk and opportunity management? 1) Improved profit certainty 2) Increased shareholder value 3) Increased stakeholder confidence Correct option 3 4) Lower economic returns Explanation Improved cost certainty, sustainable shareholder value, increased stakeholder confidence and higher economic returns...

Nonmarketability of risks - Inherent I medicine and medical practice health insurance. Moral hazard - behaving differently when you know someone else is taking the risk (induced demand) Adverse selection - The sicker people likely want more insurance (the healthier, less) Pooling of risk - Sharing risk proportionately among many is a basic insurance concept Financing health care in U.S. - •Workarounds •Redundancies •Contradictions (NHEA) - National Health Expenditure Accounts Nati...

MHA 707 Exam C Questions & Answers 2023/2024 Moral Hazard - ANSWER-When the act of insuring an event increases the likelihood that the event will happen behaving different when you know someone is taking the risk (induced demand) Adverse Selection - ANSWER-the situation in which one party to a transaction takes advantage of knowing more than the other party to the transaction the sicker people likely want more insurance, compared to those who are healthy Pooling of Risk - ANSWER...

If a company cancels an auto policy mid term, the refund will be made on a. pro rata basis b. short rate basis c. retroactive basis d. coinsurance basis Pro Rata Basis What is the term used to describe terminating the insurance relationship at the end of the policy period ? a. cancellation b. nonrenewal c. separation d. exclusion Nonrenewal Which is the best example of an indirect loss ? a. sequential loss b. liability loss c. employee theft d. loss of use Loss o...