Uncertainty avoidance Study guides, Class notes & Summaries

Indirect Loss - Answer- A secondary loss that follows from a direct loss to insured property from a covered peril. Ex. Hotel expenses incurred by the insured while a fire-damaged home is repaired is an indirect loss that follows the direct loss of the home. Exclusive Agency System - Answer- An insurance distribution system in which producers (agents) represent a single company. Ex. In the exclusive agency system, insurers use independent contractors (exclusive agents) that represent only on...

policy owner - usually, but not always the person covered by the policy beneficiary - the person who is paid when a claim is submitted agent/producer - acts as a legal representative of the insurance company broker - representative of the Insured, not the insurance company risk - The chance or uncertainty of loss Pure risk - the chance of experiencing a loss (without the possibility of gain). Only downside, no upside. Speculative risk - s the chance of loss one accepts in the hope of re...

WGU C211 - Global Economics for Managers Exam Answers. Views on Globalization Ans: New, Evolutionary, and Pendulum "New" view on globalization Ans: A force sweeping through the world in recent times. "Evolutionary" view on globalization Ans: A long-run historical evolution since the dawn of human history "Pendulum" view on globalization Ans: One that swings from one extreme to another from time to time Foreign Direct Investment Ans: Direct investment in, control, and management of va...

OB Chapter 3: Values, Attitudes, and Diversity in the Workplace Exam Questions With Verified Answers B) Convictions or beliefs that guide our decisions and evaluations of how to behave Values: represent basic convictions that a specific mode of conduct or end-state of existence is personally or socially preferable to an opposite or converse mode of conduct or end-state of existence They contain a judgmental element in that they carry an individual's ideas as to what is right, good, or d...

Insurance a contract in which one party (the insurance company) agrees to "make whole" the insured party against loss, damage or liability arising from an unlikely event In ___________ insurance, the policy protects survivors from losses suffered after the insured's death Life Insurance __________ the risk of loss from an individual or business to an insurance company Transfers Risk the uncertainty or chance of a loss occurring Pure Risk situations that can only result in a loss or no ...

CPCU 500,Becoming a Leader in Risk Management and Insurance Exam | Questions and Verified Answers| 100% Correct| Grade A (Latest 2023/ 2024 Update) Q: Which one of the following is an element of a loss exposure? Choose one answer. A. The verification of risk B. A cause of loss C. The probability of a loss D. The occurrence of a loss Answer: B. A cause of loss Q: The statement "There is a 5 percent chance that John will be injured in an automobile accident while drivi...

WASHINGTON LIFE/HEALTH INSURANCE EXAM REVIEW QUESTIONS AND ANSWERS, VERIFIED. policy owner - -usually, but not always the person covered by the policy beneficiary - -the person who is paid when a claim is submitted agent/producer - -acts as a legal representative of the insurance company broker - -representative of the Insured, not the insurance company risk - -The chance or uncertainty of loss Pure risk - -the chance of experiencing a loss (without the possibility of gain). Only dow...

Chapter 1: Property vs Casualty: What is considered property? correct answers Structure & Personal Property Property vs Casualty: What is considered casualty? correct answers Non-property losses. Legal liability to others. 3rd Party. Casualty insurance means that the policy includes liability (accountability or responsibility) coverages to help protect you if you're found legally responsible for an accident that causes injuries to another person or damage another persons belongings. Prope...

Chapter 15 MNB EXAM QUESTIONS 2024. 19) ________ is a useful predictor of managerial performance in China. A) Extroversion B) Emotional stability C) Openness D) Agreeableness - ANSWER Answer: A Diff: 2 Skill: Concept Objective: 1 70) ________ includes behaviors intending to ensure the safety and security of the leader and the group. A) Self-protective leadership B) Autonomous leadership C) Participative leadership D) Charismatic leadership - ANSWER Answer: A Diff: 3 Skill: Conce...

OrgB final Exam Questions with Correct Answers 100% Verified Rated A+ Communication - Correct Answer is the process by which information and meaning gets transferred from a sender to a receiver What are the four cultural divisions? - Correct Answer 1.Individualism v collectivism vs high power distance 3.Low vs High uncertainty avoidance 4.Masculine vs Feminine What is different between men and women's communication style? - Correct Answer Report Dynamic (w) vs Power Dynamic (m) ...