Principles of Business (19,20/14)

The possibility of loss, damage, or injury is called:

• Risk

• Liability

• Risk Management

A risk that affects a person directly is called:

• Property Risk

• Liability Risk

• Personal Risk

A risk that affects personal or real property is called:

• Property Risk

• Liability Risk

• Personal Risk

A risk that results from the possibility of losing money or other property as a result of legal proceedings is called:

• Property Risk

• Liability Risk

• Personal Risk

The process of measuring risk and finding ways to minimize or manage loss is called:

• Risk

• Risk Management

• Liabiltiy

Another name for an insurance company is called:

• Insurer

• Premium

• Insured

Another name for a policyholder is called:

• Insurer

• Premium

• Insured

An amount of money regularly paid to an insurance company for a policy is called:

• Insurer

• Premium

• Insured

The amount paid toward expenses before the insurance company will pay is called:

• Insurance

• Premium

• Deductible

A percentage of the service costs that patients pay (health insurance) is called:

• Pre-existing condition

• Coinsurance

• Exclusion