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Adj Lisc Test
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Create
Material or structural situation
increasing the possibility of loss.
Physical Hazard
The social financial device for
transfer of risk
..
Insurance
The
risk management
technique when the insured
keeps the risk
.
Retain
The actual
cause of loss
Perile
A
risk management
method to
shift
the risk to the Insurer
Transfer
The type of
hazard
when the insured is
fraudulent
.
Moral Hazard
A concept that involves a
large #
of homogenous exposure units.
Law of large numbers
The
uncertinty
regarding financial
loss.
Risk
A
situation
that increases the possibility or
severity of loss
Hazard
A
risk management
method to
keep away
from a loss.
Avoid
Conduction in which a person would
suffer financially
should a
loss
occur
Insurance interest
Describing a
reduction in value
, quality or quanity
measurable in $ amount
.
Loss
The
risk management
means to
minimize
the possibility of loss
Reduce
A type of
risk
involving
gambaling
Speculateive risk
Uncertinty of loss or
no loss, but
no gain
Pure risk
Author
lmcgregor
ID
14917
Card Set
Adj Lisc Test
Description
vocab
Updated
2010-04-17T17:07:46Z
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