Multiple Choice
The ideal insurance system:
A) reduces the probability of accidental and fortuitous losses due to increased predictability
B) requires the transfer of a large number of exposures to loss to a pool, where a fund exists in advance of losses having to be paid
C) works best when a large proportion of the participants in the pool submits a claim
D) eliminates all hazards
Correct Answer:
Verified
Correct Answer:
Verified
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