Use the Following Statements to Answer This Question

Multiple Choice

Use the following statements to answer this question:
I.The risk premium is the expected payoff needed to get out of a risky situation.
II.The insurance premium is the payment needed to get into a risky situation.
III.Risk-averse investors willingly take fair gambles.

A) I, II, and III are correct.
B) I, II, and III are incorrect.
C) I, II are correct, and III is incorrect.
D) I, II are incorrect, and III is correct.