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Risk and insurance management model questions
- 4. Calling the insurer the treasurer of the insurer fund is not quite accurate because he is really the owner of the fund.
- 5. Insurance helps to reduce the number or amount of losses by the system of rating and other means.
- 6. The primary function of insurance may be said to be spreading financial losses over the insuring company.
- 7. The final step in the risk management process is monitoring the results of risk management decisions.
- 8. Viable insurance requires loses to be reasonably unexpected because it is impossible to insure any event, which is expected.
- 10. All risks cannot e insured commercially because the policy documents would be too complicated.
- 18. An ancient practice seeking to share certain losses fairly.
- 23. A process of determining the premium for a proposed risk.
- 50. It can be issued but under several conditions.
- 51. It would be considered immoral by most members of the public.