6. All the followinis are uader Property mid casualty insurance cowerse IXCTYY A. Hood insurance...
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6. All the followinis are uader Property mid casualty insurance cowerse IXCTYY A. Hood insurance 11. Vire insurance C. Crime insurance D. I ife insurance that increase the frequency or severity of losses. A. Physical hazand B. Auifudinal haxard C. Legal hazart D. Moral hazard 8. From the standpoint of the insurec, which of the following is a characteristic of an ideally insurable risk? A. The loss must be intentional. B. There must be a small number of unique loss exposures. C. The chance of loss must be calculable. D. The loss must be indeterminable. 9. Assume that two business owners cach own an identical stonage building valued : $100,000. Assume there is a 11 percent chance in any year that each building wily be destroyed by a peril, and that a loss to either building is an independent event. The expected annual loss for each owner is A. 5000 B. 3600 (C) 11000 D. 4500 10............ is the worst loss that could happen to the firm during its lifetime A- loss prevention (B) The maximum possible loss C-Loss frequency D- Risk Mansgement 11. Refers to meatsures that reduce the severity of a loss after it occurs. A- Loss prevention B- Loss reduction C. Avoidance D. All of the above
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