When deciding whether or not to purchase insurance for an event, it is important to know:
A)how likely it is that the event will occur.
B)how easily you can reduce the risk of experiencing the event.
C)when the event is most likely to occur.
D)how many others will likely be affected by the event.

Question

Quizplus · Accepted Answer

Understanding the likelihood of the event occurring helps in assessing the risk and determining whether insurance is a cost-effective way to mitigate potential losses.

When Deciding Whether or Not to Purchase Insurance for an Event