Gina would like to buy a house.She will pay 10 percent of the cost of the house as a down payment and borrow the other 90 percent from a mortgage lender.The home will serve as collateral for the loan.The lender requires Gina to purchase property insurance on the home so that the collateral supporting the loan will be protected.This scenario illustrates which of the following benefits of insurance to society?
A) enhancement of credit
B) reduction of fear and worry
C) source of investment funds
D) incentives for loss prevention
Correct Answer:
Verified
Q22: Which of the following statements regarding insurance
Q24: A group of farmers agreed that if
Q26: All of the following are benefits to
Q28: Adverse selection occurs
A)when an insurance company loses
Q29: Ashley opened an all-you-can-eat buffet restaurant.The cost
Q30: ABC Insurance Company calculated the amount that
Q31: Which of the following statements regarding private
Q34: XYZ Insurance Company writes coverage for most
Q36: JKL Insurance Company estimates that 14 out
Q38: Apex Insurance Company wrote a large number
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents