A promise of compensation if a specified bad thing happens is the definition of:
A) hedging.
B) insurance.
C) risk spreading.
D) diversification.
Correct Answer:
Verified
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
Q84: A premium is:
A)what is gained beyond expected
Q85: Insurance is:
A)a promise of compensation if a
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
Q90: Most insurance:
A)is designed to earn a profit
Q91: Which of the following is NOT a
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