Risk Management and Insurance Review for 1st Exam
1) Direct vs. Indirect loss - Direct Losses are the immediate, or first, result of an insured peril. Indirect
losses are secondary result of an insured peril. For example, if fire destroys a home, the loss
Chapter 1 Vocab
Investment- Commitment of current resources in the expectation of deriving greater resources in the
Real Assets- Assets used to produce goods and services.
Financial Assets- Claims on real assets or the income generated by them.
Risk Management & Insurance Extra Credit - Vicarious Liability in respect to Iowa State
University Professor Steven Leath
Logan Hein (668113) -12/8/2016
In this particular case the Iowa State president Steven Leath put Iowa State University in
a very toug
To start of this letter I would first like to thank you for giving me this big opportunity to prove my
ability of investing with your provided funds I am proud to say that I was able to invest your funds and
return your money back to your w