A premium is:
A) what is gained beyond expected utility.
B) the cost of risk spreading.
C) the price of insurance.
D) what is paid to gain expected utility.
Correct Answer:
Verified
Q79: Risks that are common across the whole
Q80: A systematic risk is a risk that:
A)affects
Q81: Which of the following statements is true
Q82: Which of the following is NOT an
Q83: The price of insurance is:
A)based on diversification.
B)equal
Q85: Insurance is:
A)a promise of compensation if a
Q86: A promise of compensation if a specified
Q87: An insurance policy is actuarially fair if:
A)the
Q88: An insurance policy that, on average, is
Q89: Actuarially fair insurance is equivalent to:
A)diversification.
B)raising the
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