Which of the following are required elements for a risk to be insurable?(1) There must be a sufficient number of homogenous events to make the loss reasonably predictable.(2) The loss must be definite and measurable.(3) The loss must be catastrophic.(4) The loss must be fortuitous or accidental.

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The CFP (Certified Financial Planner) Certification includes a specialized Risk Management and Insurance Planning module, which is a core component of the exam. It tests a candidate’s ability to analyze client risk exposure, evaluate insurance coverage, and develop strategies for risk management, including life, health, and property insurance.  Core Subject Area: The insurance module requires candidates to understand how to protect clients against financial loss. Key Topics: Exam topics include assessing risk exposure, evaluating insurance products (life, health, disability), understanding... Show more

Which of the following are required elements for a risk to be insurable?<br>(1) There must be a sufficient number of homogenous events to make the loss reasonably predictable.<br>(2) The loss must be definite and measurable.<br>(3) The loss must be catastrophic.<br>(4) The loss must be fortuitous or accidental.