Which of the following is not an element of an insurable risk
Which of the following is not an element of insurable risks? Loss must be predictable.
What is not an element of insurable risk?
A risk may not be termed as insurable if it is immeasurable, very large, certain or not definable.
What are the 3 elements of insurable risk?
Which one of these is NOT considered to be an element of an insurable risk? Speculative risks (chance of both a loss and gain) are not insurable.
Which of the following is not an element of insurable risk quizlet?
Which of the following is not an insurable risk? a Risk of theft.
What are the 7 elements of an insurable risk?
7 elements of an insurable risk are; 1 1. Large Numbers of Exposure Units. The theory of insurance is based on the law of large numbers. 2 2. Define and Measurable Loss. 3 3. Determinable Probability Distribution. 4 4. Calculable Chance of Loss. 5 5. Fortuitous Loss. More items
What is insurable and controlling risk?
insurable risk that is faced by a large number of people and the amount of the loss can be predicted; presents the chance of loss but no opportunity for gain Controllable risk
Are only pure risks are insurable?
Only pure risks are insurable. 0f the following, which is a nonfinancial risk? Risk of your child performing poorly at a school band concert. This type of risk presents a potential for loss or gain. Which of the following classifications of risk is defined as risks specific to individuals, usually managed through insurance?
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- which of the following is not an element of an ideally insurable risk
- which of the following is not an essential element of an insurable risk