Insurance Is Possible and Can Be Profitable Because of

question 136

Multiple Choice

Insurance is possible and can be profitable because of

• A) private information.
• B) adverse selection.
• C) moral hazard.
• D) risk aversion.

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Definitions:

Professionalism

The conduct, behaviors, and attitude deemed appropriate and effective in the workplace or professional settings.

Ethics

The branch of philosophy that deals with questions of morality, including the determination of right and wrong actions and the development of moral principles to guide behavior.

Unspoken Needs

Needs or desires that are felt but not verbally expressed or directly communicated.

Unethical Things

Actions or practices that are morally wrong, typically violating widely accepted ethical principles.