Podcast
Questions and Answers
What is a situation where an outcome is sure to happen?
What is a situation where an outcome is sure to happen?
- Risk
- Loss
- Uncertainty
- Certainty (correct)
What is defined as an uncertainty about financial loss from an exposure?
What is defined as an uncertainty about financial loss from an exposure?
- Hazard
- Risk (correct)
- Peril
- Loss
What is a condition that can increase the chance of loss?
What is a condition that can increase the chance of loss?
- Risk
- Hazard (correct)
- Peril
- Loss
What is a character defect in an individual that increases the chance of loss?
What is a character defect in an individual that increases the chance of loss?
What is the financial impact of an uncertain event?
What is the financial impact of an uncertain event?
What is the cause of loss?
What is the cause of loss?
What type of hazard refers to an attitudinal defect in an individual that increases the chance of loss with the knowledge that insurance exists?
What type of hazard refers to an attitudinal defect in an individual that increases the chance of loss with the knowledge that insurance exists?
What is the term used in Islamic terms to describe risk?
What is the term used in Islamic terms to describe risk?
What are the two types of risks implied by the term ghurm in business activities?
What are the two types of risks implied by the term ghurm in business activities?
What is the result of moral hazard?
What is the result of moral hazard?
What is the consequence of all risks in the context of Islamic Insurance?
What is the consequence of all risks in the context of Islamic Insurance?
What type of hazard is characterized by large damage awards in liability lawsuits?
What type of hazard is characterized by large damage awards in liability lawsuits?
