Recent

  • Show all results for ""

🎧 New: AI-Generated Podcasts Turn your study notes into engaging audio conversations. Learn more

Noninsurance Transfers Quiz
5 Questions
0 Views

Noninsurance Transfers Quiz

Created by
@HallowedSpessartine

Podcast Beta

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What are noninsurance transfers?

  • Methods of transferring speculative risks to another party using other means besides insurance.
  • Methods of transferring pure risks to another party using other means besides insurance. (correct)
  • Methods of transferring pure risks to another party using insurance.
  • Methods of transferring speculative risks to another party using insurance.

    • Which of the following is an example of a noninsurance transfer?

  • Signing a lease agreement. (correct)
  • Starting a business.
  • Investing in stocks.
  • Purchasing an insurance policy.

    • What is the advantage of using noninsurance transfers in a risk management program?

  • They transfer all potential losses to another party.
  • They can transfer potential losses that are not commercially insurable. (correct)
  • They always cost less than insurance.
  • They always provide limited liability for the owners of a business.

    • What is the disadvantage of using noninsurance transfers in a risk management program?

    <p>The transfer of potential loss may fail because the contract language is ambiguous.</p> Signup and view all the answers

    When is insurance appropriate in a risk management program?

    <p>For loss exposures that have a low probability of loss but the severity of loss is high.</p> Signup and view all the answers

    Study Notes

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Description

    Test your knowledge on Noninsurance Transfers with this informative quiz! Learn about different risk-financing techniques and how pure risks can be transferred to other parties through contracts, leases, hold-harmless agreements, and incorporation of a business. This quiz is perfect for anyone interested in risk management and insurance. Don't miss out on the chance to expand your knowledge in this important field!

    More Quizzes Like This

    Nonassurance Services and Auditing Overview
    24 questions

    Nonassurance Services and Auditing Overview

    BraveChromium avatar
    BraveChromium
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser