All of the following are costs to society arising from an insurance system's operation except:
A) payments for losses caused by fraudulent claims
B) payments for losses caused by exaggerated claims
C) use of land, labor and capital to operate the insurance companies
D) payments for losses caused by windstorms such as tornadoes
Correct Answer:
Verified
Q2: All of the following are perils except:
A)
Q3: The Legal Definition of insurance:
A) is that
Q4: Which of the following is the correct
Q5: Proximate cause means:
A) the first insured peril
Q6: The Financial Definition of insurance:
A) is that
Q7: The efficient insurance market requires all of
Q8: Legally insurance is a branch of:
A) contract
Q9: Which of the following is not a
Q10: It may be correctly claimed that insurers
Q11: The scope of insurance:
A) limits the tax-deductibility
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