From the Insured's Perspective,the Use of Deductibles in Insurance Contracts

question 24

Multiple Choice

From the insured's perspective,the use of deductibles in insurance contracts is an example of

• A)risk transfer.
• B)risk control.
• C)risk avoidance.
• D)risk retention.

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Definitions:

Scale

A concept in economics that refers to the level at which a company or economy operates, particularly in terms of production and cost efficiency.

Soybean Grower

An individual or entity engaged in cultivating soybeans, often as a commercial farming operation, focusing on the production of soy for various uses including food products and industrial applications.

Average Total Cost

The total cost of production divided by the quantity produced, indicating the cost on average of producing each unit.

Mixers

Devices or software used to blend or combine various audio or other elements into a coherent whole.