The ideal insurance system:
A) reduces the probability of accidental and fortuitous losses due to increased predictability
B) requires the transfer of a large number of exposures to loss to a pool, where a fund exists in advance of losses having to be paid
C) works best when a large proportion of the participants in the pool submits a claim
D) eliminates all hazards
Correct Answer:
Verified
Q2: Risk Pooling is an example of:
A) a
Q3: The correct order of the steps in
Q4: A Pure Risk is defined as:
A) an
Q5: Which of the following potential losses is
Q6: Catastrophic losses are not insured by the
Q8: All the following are direct losses except:
A)
Q9: Loss Transfer means:
A) shifting the financial consequences
Q10: Enterprise Risk Management:
A) is only applicable to
Q11: Assume that 1000 students, all healthy, all
Q12: Which of the following is a false
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