Questions: Each of the following elements must be included in an insurable risk, except: A Excluded catastrophic perils B Large group with different risks C Calculable chance of loss D Accidental losses

Each of the following elements must be included in an insurable risk, except: A Excluded catastrophic perils B Large group with different risks C Calculable chance of loss D Accidental losses
Transcript text: Each of the following elements must be included in an insurable risk, except: A Excluded catastrophic perils B Large group with different risks C Calculable chance of loss D Accidental losses
failed

Solution

failed
failed

The answer is B: Large group with different risks.

Explanation for each option:

A. Excluded catastrophic perils - This is correct because insurable risks typically exclude catastrophic perils that could cause widespread losses, as these are difficult to predict and insure against.

B. Large group with different risks - This is incorrect because insurable risks require a large group with similar risks, not different risks. Insurance relies on pooling similar risks to predict losses accurately and set premiums.

C. Calculable chance of loss - This is correct because for a risk to be insurable, the chance of loss must be calculable. This allows insurers to set appropriate premiums based on the likelihood of a loss occurring.

D. Accidental losses - This is correct because insurable risks must involve accidental losses. Insurance is designed to protect against unforeseen and unintended events, not deliberate actions.

In summary, option B is the exception because insurable risks require a large group with similar, not different, risks.

Was this solution helpful?
failed
Unhelpful
failed
Helpful

Questions asked by other users

failedAnswered
The Earth orbits the sun in 365 days. What is the tangential speed, in m / s, of the earth in orbit? The average sun-earth distance is 1.50 x 10^11 m.
failedAnswered
What will most likely happen to a plant that does not receive enough CO2 ? A. The Calvin cycle will produce less glucose. B. The light reactions will occur faster. C. The Calvin cycle will increase production of glucose. D. The light reactions will stop absorbing light energy.
failedAnswered
6/8 = /80
failedAnswered
Hope is desperate for the new designer purse that she saw while window shopping at her local mall. She knew every girl in school would covet her bag and wish to be like her. When she walked in, she whipped out her credit card, and purchased the 5,000 bag. This kind of purchasing is called: Designer consumerism Popular consumerism Credit card consumerism Conspicuous consumption
failedAnswered
Use the given conditions to write an equation for the line in point-slope form. Passing through (-2,3) and parallel to the line whose equation is y=1/2 x+1/6 Write an equation for the line in point-slope form. (Type your answer in point-slope form. Use integers or simplified fractions for any numbers in the equation.)