Which of the Following Statements Correctly Differentiate Between Perils and Hazards

question 42

Multiple Choice

Which of the following statements correctly differentiate between perils and hazards?

• A)Perils refer to the number of losses during a specified period and hazards refer to the average dollar value of a loss per occurrence.
• B)Both perils and hazards are causes of loss; perils are tangible, hazards are intangible.
• C)Perils are causes of loss; hazards are conditions that increase perils.
• D)Perils are diversifiable risks; hazards are nondiversifiable risks.
• E)Perils are consequences of losses; hazards are cause of losses

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Definitions:

Mental Health

Refers to a person's state of psychological well-being and the absence of any mental illness, affecting their emotions, behaviors, and social interactions.

Informed Consent

A process by which a person voluntarily confirms their willingness to participate in a particular activity, after having been informed of all the risks, benefits, and alternatives.

Ethical Decision-Making Model

A structured approach to solving ethical dilemmas, involving the identification of ethical issues, consideration of alternatives, and selection of the most ethical action.

Beneficence

Always striving to do what is good and acting in the best interest of your client.