When the Level of Insurance Premiums That Someone Pays Is

question 56

Multiple Choice

When the level of insurance premiums that someone pays is equal to the amount that an average person in that risk group would collect in insurance payments, the level of insurance

• A) will be adverse to profits.
• B) will be actuarially sound.
• C) complies with fundamental law.
• D) reaches actuarial fairness.

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Definitions:

Work Force

The total number of a country's or organization's employees, including both the employed and those seeking employment.

Educated Students

Individuals who have acquired knowledge, skills, and critical thinking through formal education.

Geert Hofstede

a Dutch social psychologist known for his work on cultural dimensions theory, which analyzes cross-cultural communication and behaviors.

National Cultures

The set of shared values, beliefs, customs, and practices that characterizes the people of a particular country or region.