Licentiate Examination - IC 01 - Principles of Insurance Exam - Important Points

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  • Financial risks - Loss from risk can be quantified in monetary terms
  • Non-financial risks - Loss from risk cannot be measured in monetary terms
  • Dynamic risks - Risks resulting from changes in the economy
  • Static risks - Loss from risks due to perils of nature and dishonesty of other individuals
  • Pure risks - These risks are not under the control of the person
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IC01 PRINCIPLES OF INSURANCE

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