Insurance Processes - Quiz 1 explores fundamental concepts such as the roles of insured and insurer, premium payments, and the aleatory nature of insurance contracts. It assesses understanding of insurance mechanics, making it relevant for learners in business and finance fields.
Coverage
Reserve
Premium
Sum insured
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True
False
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Buffer
Profit
Surcharge
Discount
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True
False
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True
False
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Insurer
Insurance company
Insured
Contractor
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Behaving unethical after getting the insurance.
Lying about the past.
House made of wood.
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True
False
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True
False
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Premium + Investment gain
Premium - Investment gain + Claim
Premium - Claim
Premium + Investment gain - Claim
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Deciding about the risk in insurance company.
Predicting probability of future loss.
Defining prices of insurance coverages.
Dealing with adverse selection (only those who are closely exposed to a risk, want insurance)
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Investment gain - Claim
Premium - Claim
Operational profit
Premium - Operational profit
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True
False
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True
False
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Personal
Conditional
Unilateral
Aleatory
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Fire
Hazard
Car accident
Earthquake
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Pure
Fundamental
Particular
Speculative
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Gahtering the heterogeneous risks.
Gahtering homogeneous risks.
Sharing risk for the common good
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Deciding about the risk in insurance company.
Predicting probability of future loss.
Defining prices of insurance coverages.
Dealing with adverse selection (only those who are closely exposed to a risk, want insurance)
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