The Phenomenon in Which an Insured Individual Takes Less Care

question 20

Multiple Choice

The phenomenon in which an insured individual takes less care in preventing the event against which he or she is insured is an example of

• A) foolish behaviour.
• B) adverse selection.
• C) moral hazard.
• D) double coincidence of wants.
• E) nondiversifiable risk.

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Definitions:

Strategic Human Resource Management

The mobilization of human capital to implement organizational strategies.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community.

HRM Process

A series of strategic procedures and policies implemented by the Human Resources Management department to recruit, train, evaluate, and manage an organization's employees.

Quid Pro Quo

A Latin term meaning "something for something," which refers to a mutual agreement where something is given in exchange for something else.