The Risk Manager Must Find a Way to Create a Similar

question 14

Short Answer

The risk manager must find a way to create a similar cash flow to replace the lost income once the person dies.The use of the _____ concept is practical because it can give us one figure for the estimated economic value of the person.

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Definitions:

Information Search

The process of gathering data and details about a specific subject or decision-making need.

Problem Recognition

The initial step in the consumer decision process where the consumer identifies a need or realizes the difference between the current and a desired state.

Alternative Evaluation

The process in which consumers compare different products or brands on various attributes to make a purchasing decision.

Consideration Set

A group of brands or products a consumer evaluates when making a purchase decision.