IFCE Practice Questions - Insurance Foundation Certificate Examination (IFCE) Exam

In risk management terminology, what is a 'hazard'?

The actual cause of a loss, such as a fire or an earthquake A condition that increases the likelihood or severity of a loss The financial compensation paid to an insured after a disaster The process of evaluating the risk profile of a client

Correct Answer:

A condition that increases the likelihood or severity of a loss

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