Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Finance

QuestionAnswer
Liability insurance Covers if someone else is liable for wrecking you
5 steps of risk management process (1) Identify your risk exposure (2) Evaluate your potential losses (3) Choose the most appropriate risk management tool (4) Implement risk management plan (5) Periodically re-evaluate your plan
Why pay for life insurance in older adulthood? Burial costs
What should I look out for renter's insurance? Ask for replacement cost, not fair market price
Rider on policy Any insurance above and beyond what is already covered in generalized insurance plan
Rider on policy Any insurance above and beyond what is already covered in generalized insurance plan
Rider on policy Any insurance above and beyond what is already covered in generalized insurance plan
Is theft small risk or large risk? Small
Is auto accident small or large risk? Large
Law of large numbers as size of pool of identical risk gets larger, the expected loss gets more predictable
Insurers create risk pools of many individuals. If someone has no loss or claim, could they still pay more? Yes.
Insurers create risk pools of many individuals. If someone has no loss or claim, could they still pay more? Yes.
Who pays if losses exceed total premiums collected? Insurance company
Who pays if losses exceed total premiums collected? Insurance company
What are 3 problems with small pools? 1. Chance of exceeding the dollars in the pool 2. Hard to get pool members to pay extra later 3. Pools likely to have correlated risks.
What are 3 problems with small pools? 1. Chance of exceeding the dollars in the pool 2. Hard to get pool members to pay extra later 3. Pools likely to have correlated risks.
Nonrandom risks intentional acts (war, suicide)
Nonrandom risks intentional acts (war, suicide)
Unpredictable risks risk such as environmental damage and medical malpractice
Unpredictable risks risk such as environmental damage and medical malpractice
Unpredictable risks risk such as environmental damage and medical malpractice
Created by: kevinhurd
Popular Finance sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards