BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The premiums for group plans are usually considerably higher than for individual plans.
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Most pure risks can be divided into three categories: personal risks that affect the income-earning power of the insured person, property risks, and liability risks that cover losses resulting from social interactions.
Detailed explanation-2: -A speculative risk has the potential to result in a gain or a loss.
Detailed explanation-3: -Gambling and investing in the stock market are two examples of speculative risks.
Detailed explanation-4: -Pure risk is the one which effects you and you only. It can neither be transferred, nor ended altogether. So option (b) is right answer.
There is 1 question to complete.