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FINN 3623 EXAM 1 (ACTUAL / ) TERMS (NELSON
DRIVER) || QUESTIONS & VERIFIED SOLUTIONS (RATED A+)
Nuclear Liability Arise from negligent operation from a facility from the owners/operators
Price Anderson Act Encouraged the development of Nuclear Liability by limiting the liability
Hazards Can be anything that increases the frequency and or the severity of a loss
Physical Hazard Burned out light bulb over a dark stair well, not replacing worn out tires, etc.
Moral Hazard Intentional damage or destruction 1 / 2
Morale Hazard "I don't care" attitude (One of the must difficult to deal with in the business)
adverse selection when one party has more control of outcomes than the other party due to knowledge of information
Cash Flow Underwriting Selling your service below your cost -Creates very rapid infusion of capital
Loss undesired or unplanned reduction in economic value
chance of loss probability of a loss occurring
- / 2
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