Which Statement Regarding Insurable Risks Is Not Correct

The needs approach assumes no estate built during the life of the decedent. Which of the following statements regarding insurance and hedging is are true.

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Risks that would adversely affect large numbers of people or large amounts of property such as wars are typically not insurable.

. If insurers were to provide indemnification for loses that were deliberately caused and then the insured would claim an intentional loss and the characteristics of the ideal insurable risks that are accidental and unintentional would not be met. Risks that would adversely affect large numbers of people or large amounts of property - wars or floods for example - are typically not insurable. D The insurable risk.

Which statement regarding insurable risks is NOT correct. The chance of loss cannot be accurately. Insurance inhibits economic growth and investment by discouraging risk-taking.

43 If insurers were to provide indemnification for losses that were deliberately caused which characteristic of ideally insurable risks would not be met. For insurance purposes similar objects which are exposed to the same group of perils are referred to as. D The chance of loss must be calculable.

Which of the following statements about risk management is true. Risk management is a spontaneous response to an unexpected incident. A A premium is the total cost for the amount of insurance purchased.

Speculative risk cannot be insured. The term insurable risk refers to a loss that is probable and predictable not every potential occurrence will result in a loss of property or injury regardless of whether they are small or large. Which statement regarding insurable risks is NOT correct.

Which of the following statements regarding insurance and hedging is true. Which of the following is false regarding an insurable risk. In comparing the purchase of individual life insurance to group life which statement is NOT true.

An insurable risk must involve a loss that is definite as to cause time place and amount. B Rates are considered inadequate when they do not cover projected losses and expenses. As the number of units increases the number of losses decreases.

The insurable risk needs to be statistically predictable. A The loss must be accidental and unintentional. Insurance cannot be mandatory.

The needs approach looks at future needs of dependents but does not consider the estate that the decedent would have built had he lived. Which statement regarding insurable risks is NOT correct. -the insurable risk needs to be statistically predictable -an insurable risk must involve a loss that is definite as to cause time place amount -insureds cannot be randomly selected -insurance cannot be mandatory.

D The loss must be determinable and measurable. Which statement regarding insurable risks is NOT correct. 1 2 and 3.

Which of the following statements is not correct regarding rates and premiums. Risk management is unique to the health care industry. Insureds cannot be randomly selected.

The potential to produce a catastrophic loss is great 2. B Insurance reduces objective risk while hedging involves only risk transfer and not risk reduction. A hospital indemnity policy will pay A benefit for each day the insured is in a hospital.

C There must be a large number of similar exposure units. C Group insurance is automatic and requires less medical information than the individual coverage. Asked Jun 2 2016 in Business by Grant.

Insurance cannot be mandatory. Risk management is concerned with reducing exposure to legal liability. Risk management is controlled and managed by HIPAA regulations.

A principle of insurance holds that only a small portion of a given group will experience loss at any one time. Granting insurance must not be mandatory selecting insureds randomly will help the insurer to have a fair proportion of good risks to poor risks. A the risk is transferred to the insurer bthe insured may retain part of the risk through deductibles ca large uncertain loss is exchanged for a small certain loss dinsurance covers intentional losses as well as unintentional.

C Hedging reduces objective risk while insurance involves only risk. Insurance transfers risk from those with a high tolerance for risk to those with a low tolerance for risk. All other statements are true.

Which of the following types of risks meets the requirements for being insurable by private insurers amarket risks b. A Group life tends to have a lower premium per person than individual life. The insurable risk needs to be statistically predictable.

One of the criteria for an insurable risk is that it NOT be catastrophic. B The loss should not be catastrophic. Which of the following is NOT true about insurance.

B Both types of coverage provide a tax-free death benefit. All statements are correct. Pure risk can be insured.

Insurance companies always earn profits because insurance. C Rates may only be excessive if the insurer is making up for lost reserves. A The loss must be accidental and unintentional.

Consider This Which of the following statements about insurance and risk is true. A There must be a large number of homogeneous units. The correct answer is d.

C The loss must cause an economic hardship on the insurer. An insurable risk must involve a loss that is definite as to cause time place and amount. A principle of insurance holds that only a small portion of a given group will experience loss at any one time.

Which statement regarding insurable risks is NOT correct. A An insurable risk must involve a loss that is definite as to cause time place and amount. Political risks property risks Reasons why market financial and production risks are often uninsurable include which of the following 1.

Insurance transactions can reduce objective risk while hedging typically involves only risk transfer and not risk reduction. C Insurance cannot be mandatory. Insurance involves the transfer of an insurable risk while hedging handles risk that is typically uninsurable.

Which statement regarding insurable risks is NOT correct Insureds cannot be randomly selected Granting insurance must not be mandatory ---selecting insureds randomly will help the insurer to have a fair proportion of good risks to poor risks. Insureds cannot be randomly selected. B Insureds cannot be randomly selected.

A Both insurance and hedging deal only with pure risks. One of the criteria for an insurable risk is that it is not catastrophic. B The insured event must be accidental.

Premiums are not tax-deductible as a business expense Which of the following is correct concerning the taxation of premiums in a key-person life insurance policy.

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