The fee that insurance companies collect in exchange for covering unpredictable costs is called a(n) :
A) premium.
B) ultimatum.
C) prepaid event charge.
D) preventative payment.
Correct Answer:
Verified
Q87: Insurance policies can be bought to cover
Q88: Risk pooling:lowers the overall cost of a
Q89: Which of the following is a mechanism
Q90: Insurance premiums often represent:
A)the expected value of
Q91: Risk pooling:
A)reallocates the likelihood of catastrophes happening.
B)reallocates
Q93: Jackson owns a house worth $350,000 in
Q94: Jude owns a house worth $250,000 in
Q95: Risk diversification refers to the process by
Q96: Risk pooling occurs when:
A)people organize themselves into
Q97: In general, the amount people pay for
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