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EMII

QuestionAnswer
Bounced check check that is returned to a business by the bank because the customer's checking account has insufficient funds to cover the check amount
Consumer credit offered when a retail business allows its customers to buy merchandise now and pay for it later
Controllable risk risk that can be reduced or possibly even avoided by actions the insured takes
Premium payment that is made to an insurance company to cover the cost of insurance; price paid to cover a specified risk for a specific period of time
Risk assessment involves looking at all aspects of a business and determiningthe risks it faces
Risk management involves taking action to prevent or reduce the possibility of loss to a business
Shoplifting act of knowingly taking items from a business without paying
Speculative risk risk which offers the insured the chance to gain as well as lose from the event or activity
Uncontrollable risk risk on which actions have no effect, such as the weather
Insurance a payment made to an insurance company to cover the cost of uncontrollable events
Pure risk insurable risk that is faced by a large number of people and the amount of the loss can be predicted; presents the chance of loss but no opporutnity for gain
Trade credit offered when one business allows another business to buy now and pay later
Federal Employees' Compensation Act (FECA) law that provides benefits to employees who have suffered work
Insurable risks risks in which the amount of loss can be predicted
Worker's Compensation a government
Shoplifting act of knowingly taking items from a business without paying
Speculative risk risk which offers the insured the chance to gain as well as lose from the event or activity
Uncontrollable risk risk on which actions have no effect, such as the weather
Insurance a payment made to an insurance company to cover the cost of uncontrollable events
Pure risk insurable risk that is faced by a large number of people and the amount of the loss can be predicted; presents the chance of loss but no opporutnity for gain
Trade credit offered when one business allows another business to buy now and pay later
Federal Employees' Compensation Act (FECA) law that provides benefits to employees who have suffered work
Insurable risks risks in which the amount of loss can be predicted
Worker's Compensation a government
Created by: lmary
 

 



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