FIN 138 - Study guides, Class notes & Summaries

FIN 138 EXAM 1 QUESTIONS WITH CORRECT ANSWERS LATEST UPDATE 2026 Financial Definition of Insurance - Answers The collection of a small premium payment from all exposed and distributed to the smaller number of insureds suffering loss -provides for the funding of the losses Loss redistribution; redistribution of the cost of unexpected losses. (works like a financial intermediary) *The collection of a small premium payment from all exposed and distributed to the smaller number of insure...

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11 pages

Written in 2025/2026

Grade A+

TutorJosh

FIN 138 EXAM 1 | QUESTIONS AND ANSWERS | 2026 UPDATE | WITH COMPLETE SOLUTION

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27 pages

Written in 2025/2026

Grade A+

EvaTee

FIN 138 EXAM 1 | QUESTIONS AND ANSWERS | 2026 UPDATE | WITH COMPLETE SOLUTION

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23 pages

Written in 2025/2026

Grade A+

NursAid

FIN 138 BUNDLED QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026/2027

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5 items

TutorJosh

FIN 138 2.2 QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 A waiver of premium rider increases the benefits of a life insurance policy by providing for continued coverage without continued payment of premiums after a specific age. - Answers False This section of the insurance contract enumerates the duties of the parties to the contract and, in some cases, defines the terms used. Identify this element of the insurance contract. - Answers Conditions Which of the following are damages asse...

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1 pages

Written in 2025/2026

Grade A+

TutorJosh

FIN 138 CH. 9 EXAM QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 -Intentional relinquishment of a known right. -The price each party demands for agreeing to carry out his or her part of the contract. -Situation when the insurer or its agent leads an insured to believe coverage exists, and thus the insurer cannot later claim that no coverage existed. -Situation in which insureds have no input in the design of a policy's terms. -Agreement that exists before a contract is issued. - Ans...

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2 pages

Written in 2025/2026

Grade A+

TutorJosh

FIN 138 - EXAM #2 QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 Principle of Indemnity - Answers insurer agrees to pay no more than the actual amount of the loss Insurable Interest - Answers - insured must be in a position to lose financially if a covered loss occurs Principle of Subrogation - Answers substitution of the insurer in place of the insured for the purpose of claiming indemnity from a 3rd party for a loss covered by insurance Principle of Reasonable Expectations - Answers...

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2 pages

Written in 2025/2026

Grade A+

TutorJosh

FIN 138 EXAM 3 QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 Deductibles are requirements that the insured pay an initial portion of any loss. - Answers T Risk is the uncertainty about whether a financial loss will occur and how large the loss will be. - Answers T Insurance can be purchased for a speculative risk but not for a pure risk. - Answers F When shopping for insurance, your goal should be to "buy" what you need and not be "sold" more or less coverage. - Answers T...

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2 pages

Written in 2025/2026

Grade A+

TutorJosh

FIN 138 EXAM QUESTIONS WITH VERIFIED SOLUTIONS LATEST UPDATE 2026 The goal of monetary asset management is to maximize interest earnings and minimizing fees while keeping funds safe and readily available. - Answers True Liquidity is the speed and ease with which an asset can be converted to cash. - Answers True Which of the following are monetary assets? - Answers Money market accounts, cash on hand, and certificates of deposit. How can a person transfer money out of his or her checking...

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1 pages

Written in 2025/2026

Grade A+

TutorJosh

FIN 138 Exam 3 Questions With Complete Solutions

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11 pages

Written in 2023/2024

Classroom

In this document, you will find different kinds of insurance (for health, automobile, and such). This document talks about Making Property and Liability Risk, Planning for Health, and Life Insurance Planning.

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8 pages

Written in 2022/2023

angelarichardson