Multiple Choice
The primary reason the insurance mechanism functions successfully is the:
A) existence of hazard risks
B) ease with which losses can be measured
C) predictability of losses via the law of large numbers
D) existence of many non-industrial nations
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q11: Which of the following best describes a
Q12: A "pure risk" is defined as a
Q13: Risk diversification is based on the principle
Q14: Which of the following is not an
Q15: Which of the following is a true
Q17: The law of large numbers states that
Q18: There are four basic components of an
Q19: Loss prevention is the best risk management
Q20: Enterprise Risk Management:<br>A) is only applicable to
Q21: A flood is an example of a