Exam-3-Final-C Flashcards
1
Q
Risk
A
chance of loss
-amount of possible loss
2
Q
Speculative Risk
A
a chance of either profit or loss
3
Q
Pure Risk
A
the threat of loss with no chance for profit
4
Q
Enterprise Risk Management
A
-defining which risks a firm will manage
5
Q
Insurable Risk
A
-a risk that the typical insurance company[ will cover
6
Q
rule of indemnity
A
a person cannot collect more than the actual loss from an insurable risk
7
Q
HMO’s
A
health care that require members to chose from a restricted list of doctors
8
Q
HSA’s
A
Tax-deferred savings accounts linked to low cost high deductible health insurance policies
9
Q
Professional liability
A
covers people found liable for professional negligence
10
Q
malpractice
A
insuraves doctors negligence
11
Q
product liablilty
A
covers liability arising out of products sold.
