Insurance covers the risk of the most certain event -

Related MCQs

• If the most impossible event is assigned a value of zero, then most inevitable event is assigned a value
• Which of the statement are true? A. Risk retention and risk transfer are some of the techniques to manage risks. B. Implementation is one of the steps in risk management
• Which of the statements is correct? A. Insurance is a transfer of risk mechanism. B. Insurance gives physical protection to assets.
• Which of the statements is correct? Under a fire policy A. Insurance is a transfer of risk mechanism. B. Insurance gives physical protection to assets.
• Burglary insurance policy covers the risks from burglary________
• Crop insurance covers the risks of __________
• Insurance eliminates or decreases the uncertainty associated with occurrence of an event
• __________ Insurance is a contract to provide a measure of financial support to farmers in the event of a crop failure due to drought or flood.
• ________ is a social device for eliminating or reducing the loss of society from certain risk.
• Which of the statements is correct? A. One of the methods of risk retention is by way of voluntary excess or deductible available under the policy. B. Another method of retention of risk is to absorb small losses as normal operating expenses of business.