Which of the following is most likely to be insured at the federal government level? A) product liability insurance. B) homeowner insurance C) auto insurance. D) unemployment insurance.

Relative variation of actual loss from expected loss, which varies inversely with the square root of the number of cases under observation

Traditionally, risk has been defined as  

Risk management technique in which an individual or a firm retains part or all of the losses resulting from a given loss exposure.

Situation in which there are only the possibilities of loss or no loss.

Financial loss that results directly from an insured peril

The insurance definition will include “.. is the pooling of risks…”  Explain what is meant by the term pooling and the benefit that it provides to the individual purchaser of insurance.

Cause or source of loss.

A REMINDER: We do chapter quizzes as a way to study each week for the upcoming major exam. A best practices approach: (a) do the quiz after reading the chapter and using the required PowerPoint, then (b) allow time, so that immediately after the quiz, go to the chapter and look for and highlight facts and terms you remember from the quiz–accumulate those highlights and notes to use for later studying. AND ALSO, we do room scans before starting a quiz and often within the quiz, so done one now–EVEN IF YOU DID THE ROOM SCAN before starting the quiz, you must do the following for a quiz grade: pick up your laptop and point it toward the desktop area in front of where your computer sits, hold it for 5 seconds, then scan slowly left, then scan slowly right to show the right area of your work area. Use a football size or larger mirror to do the scan if you use a desktop instead of laptop computer. Either way, do the scan slowly enough to clearly show your work environment. When done, return to your standard testing set-up and continue with the quiz.When done, Select True as the answer and keep moving forward.

When taking a patient’s pulse, the patient’s arm should be