Buying an Alarm System as an Option on Your New

question 164

Multiple Choice

Buying an alarm system as an option on your new sports car is an example of

• A)risk avoidance.
• B)loss control.
• C)transferring risk.
• D)risk retention.

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Definitions:

Older Homes

Residential properties that have been constructed many years ago, often characterized by historical architectural styles and potentially requiring more maintenance.

House's Value

The monetary worth assigned to a residential property based on factors like location, size, and condition.

Adverse Selection

A situation in which one party in a transaction has more information than the other, often leading to an inefficient market outcome.

Real Estate

Property consisting of land or buildings, which can be bought, sold, or leased for residential, commercial, or industrial use.