Faking an Accident to Collect Insurance Proceeds Is an Example

question 40

Multiple Choice

Faking an accident to collect insurance proceeds is an example of

• A)physical hazard.
• B)objective risk.
• C)moral hazard.
• D)attitudinal hazard.

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Definitions:

Hindsight Bias

is the tendency to believe, after an event has occurred, that one would have predicted or expected the outcome, often referred to as the "I-knew-it-all-along" effect.

Hindsight Bias

The tendency to believe, after an event has occurred, that one would have predicted or expected the outcome.

Illusory Correlations

The perception of a relationship between two variables even when no such relationship exists.

Commonsense Understanding

The basic level of practical knowledge and reasoning about everyday situations and tasks.