The Purchase of Insurance Is a Common Form of Which

question 44

Multiple Choice

The purchase of insurance is a common form of which risk management technique:

• A)risk retention
• B)risk transfer
• C)risk assumption
• D)risk avoidance
• E)loss control

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Definitions:

Family Cycle

Refers to the series of stages through which a family goes through over time, covering events from marriage, parenthood to the departure of children and old age.

Major Event

An important occurrence or happening with significant impact or consequence.

Grandchildren Being Born

The event of a person's child having offspring, marking the expansion of the family lineage to a new generation.

Secondary Sexual Characteristics

Secondary Sexual Characteristics are features that appear during puberty in humans and distinguish the two sexes from each other but are not directly involved in reproduction.