In which of the following cases should one purchase insurance?
A) High-severity,high-frequency
B) Low-severity,high-frequency
C) High-severity,low-frequency
D) Low-severity,low-frequency
E) None of the above
Correct Answer:
Verified
Q7: Exposure to the risk of loss is:
A)Hazard
B)Peril
C)Business
Q8: Which of the following is a benefit
Q9: Which of the following is used to
Q10: An individual facing risk:
A)Is unaware of the
Q11: Which of the following is not an
Q13: A hazard is best defined as:
A)An increase
Q14: Medicaid is an example of:
A)Liability insurance
B)Government insurance
C)Property
Q15: Why are most exposures pure risks?
A)The loss
Q16: What is business risk?
A)A risk that carries
Q17: Which of the following is used to
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