Exclusions Are Used in Insurance Policies for All of the Following

question 43

Multiple Choice

Exclusions are used in insurance policies for all of the following reasons EXCEPT

• A)to reduce moral hazard.
• B)to waive policy conditions.
• C)to eliminate coverage for uninsurable perils.
• D)to eliminate coverage not needed by typical insureds.

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Definitions:

Sample Variance

A measure that quantifies the amount of variability or spread in a sample data set.

Null Hypothesis

A statistical hypothesis that assumes no significant difference or effect exists between certain characteristics or variables being studied.

Sample Mean

The average value of a set of observations taken from a sample, which is used to estimate the mean of the entire population.

Hypotheses

Hypotheses are proposed explanations made on the basis of limited evidence as a starting point for further investigation.