Which of the Following Risks Would Be Classified as a Unique

question 89

Multiple Choice

Which of the following risks would be classified as a unique risk for an auto manufacturer?

• A)interest rates
• B)steel prices
• C)business cycles
• D)foreign exchange rates

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Definitions:

Legally Obligated

Binding under law or contract, requiring a party to act or refrain from acting in a specified manner.

Coinsurance Costs

Expenses that are not fully covered by insurance and must be shared between the insurer and the insured, typically as a percentage.

Increase Of Hazard

A scenario in insurance where the risk of loss becomes greater than what was contemplated at the time the policy was issued.

Highly-Explosive Chemicals

Substances that possess a high potential for explosion under certain conditions, posing significant risks.