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Fundamentals of Insurance (BC) -  Self-Examination Chapter Questions  and correct answers
  • Fundamentals of Insurance (BC) - Self-Examination Chapter Questions and correct answers

  • Exam (elaborations) • 21 pages • 2024
  • What is the major function of insurance? - ANSWERS To allow the spread of risk. Define "Spread of Risk" - ANSWERS "The losses of the few are shared among the many" What are the 4 other functions of insurance? - ANSWERS 1. Basis of Credit System 2. Eliminates worry - Encourages Entrepreneurship 3. Loss Prevention and Loss Reduction 4. Source of Employment and Investment Capital What are the 3 types of property and casuality (general) insurance? - ANSWERS 1. Automobile 2. Property ...
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