Adj Lisc Test

Card Set Information

Author:
lmcgregor
ID:
14917
Filename:
Adj Lisc Test
Updated:
2010-04-17 13:07:46
Tags:
Vocab sec
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Description:
vocab
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  1. Material or structural situation increasing the possibility of loss.
    Physical Hazard
  2. The social financial device for transfer of risk..
    Insurance
  3. The risk management technique when the insured keeps the risk.
    Retain
  4. The actual cause of loss
    Perile
  5. A risk management method to shift the risk to the Insurer
    Transfer
  6. The type of hazard when the insured is fraudulent.
    Moral Hazard
  7. A concept that involves a large # of homogenous exposure units.
    Law of large numbers
  8. The uncertinty regarding financial loss.
    Risk
  9. A situation that increases the possibility or severity of loss
    Hazard
  10. A risk management method to keep away from a loss.
    Avoid
  11. Conduction in which a person would suffer financially should a loss occur
    Insurance interest
  12. Describing a reduction in value, quality or quanity measurable in $ amount.
    Loss
  13. The risk management means to minimize the possibility of loss
    Reduce
  14. A type of risk involving gambaling
    Speculateive risk
  15. Uncertinty of loss or no loss, but no gain
    Pure risk

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