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:

Self-Serving Bias

A common tendency to attribute one's successes to personal qualities and failures to external factors.

Attribution

The act of explaining the causes of behaviors or events, often associating them with personal traits or external situations.

Self-Monitors

Individuals who observe and regulate their behavior in social situations to fit the norms or expectations.

Feelings

Emotional states or reactions that are subjectively experienced as a response to situations or thoughts.