Multiple Choice
Which of the following is an accurate definition of "insurance"?
A) A savings account designed to protect you in the event of a rainy day
B) A financial arrangement that redistributes the costs of unexpected losses among a pool of insureds
C) A communist plot to destroy capitalist enterprise
D) A contractual agreement in which the insurer agrees to pay the insured only if the insured requests the money
Correct Answer:
Verified
Correct Answer:
Verified
Q28: "Loss" and "chance of loss" are terms
Q29: Catastrophic losses are not insured by the
Q30: Which of the following is not a
Q31: An insurance applicant dying from cancer is
Q32: The most difficult and important step in
Q34: If a person installs an automatic sprinkler
Q35: All the following are direct losses<u> except</u>:<br>A)
Q36: All the following are direct losses <u>except</u>:<br>A)
Q37: What are the three basic methods of
Q38: Risk Pooling is an example of:<br>A) a