Multiple Choice
Match the descriptions with their terms:
-An economic institution that reduces risk is _________________.
A) aleatory contract
B) Concealment
C) contract
D) Estoppel
E) express
F) insurable interest
G) insurance
H) large-loss principle
I) reasonable expectations
J) representation
K) requisites of insurable risk
L) subrogation
M) utmost good faith
N) waiver
O) warranty
Correct Answer:

Verified
Correct Answer:
Verified
Q12: Insurable interest in property-liability insurance must exist<br>A)
Q13: Match the descriptions with their terms:<br>-A/An _
Q14: The insurer is entitled to its subrogation
Q15: An applicant for life insurance informs the
Q16: The Smallville Mall has assumed the responsibility
Q18: Pooling is the sharing of total losses
Q19: One social cost of insurance is attributed
Q20: Without the insurance mechanism, the reserves needed
Q21: Match the descriptions with their terms:<br>-A/An _
Q22: A concealment would be illustrated by a