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WebCE Quizzes: General Insurance & Life Insurance Questions and Answers Rated A+ with Latest updates

WebCE Quizzes: General Insurance & Life Insurance Questions and Answers Rated A+ with Latest updates

WebCE Quizzes: General Insurance & Life Insurance
Questions and Answers Rated A+ with Latest updates
Buying life or health insurance is an example of which risk management technique?
risk avoidance
risk reduction
risk retention
risk transfer -✔✔ risk transfer
What is the mathematical concept of probability that helps insurers estimate the statistical
likelihood of mortality or morbidity losses at any given age?
law of large numbers
underwriting principle
law of probability
actuarial principle -✔✔ law of large numbers
A person who refuses to engage is risky activities like rock climbing for fear of injury or death is
demonstrating which risk management technique?
risk avoidance
risk reduction
risk retention
risk sharing -✔✔ risk avoidance
Which of the following is an insurable risk?
the possibility of losing money in stock investments
the possibility of losing money gambling in Las Vegas
the possibility of becoming disabled and unable to

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