Insurance is a contractual relationship in which the insured transfers a specified risk to a third-party insurer that aggregates similar __________ into a common pool.
A) redactions
B) disclosures
C) materials
D) risks
Correct Answer:
Verified
Q8: Actuaries are individuals trained in mathematics who
Q9: Insurance is largely governed by state laws
Q10: An important aspect of insurance regulation is
Q11: The expected loss arising from an event
Q12: The insured transfers the risk of loss
Q14: Insurers reduce the chance of a moral
Q15: When an insured party engages in riskier
Q16: Personal insurance represents policies related to:
A) life
Q17: What may liability insurance not cover?
A) negligent
Q18: Businesses often purchase an insurance policy known
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