Quiz 1 012511 - Principles in Risk Management and Insurance...

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Principles in Risk Management and Insurance - 06F:102:SCA Spring, 2011 Quiz One – Each question is worth 3 points. There will be four more questions on the quiz related to the articles that will be available in class when completing the quiz . Total points available for quiz 1 = 45 Name_____________________________________________________ 1. When considering the definition of “risk” uncertainty is often included in the definition. One difference between risk and uncertainty is ? a. Probability of outcome b. Possible uncertainty c. Possibility of loss d. Desired outcome is met with certainty 2. The severe snow storms that struck the northeast United States and especially New York this past December is considered what type of classification of risk? a. Morale b. Moral c. Fundamental d. Particular 3. Insurance provides coverage for pure risk. What concept best defines why insurance is available for pure risk?
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This note was uploaded on 04/01/2012 for the course 06F 102 taught by Professor Donnal.pearcy during the Spring '11 term at University of Iowa.

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Quiz 1 012511 - Principles in Risk Management and Insurance...

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