In a General Sense, What Is the Primary Purpose of Insurance

question 30

Multiple Choice

In a general sense, what is the primary purpose of insurance?

• A)Predicting risk
• B)Risk assessment
• C)Protection against risk
• D)Underwriting

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Definitions:

Marginal Utility

The supplementary enjoyment or value a consumer experiences from the purchase of an additional unit of a product or service.

Marginal Utility

The extra value or benefit derived from the use of one more unit of a product or service.

Additional Slice

Generally refers to an extra portion or piece of something, often used metaphorically to describe an additional amount or increment of a resource or benefit.

Marginal Utility

The extra pleasure or benefit gained from the consumption of an additional unit of a product or service.