Loss Transfer Means

question 58

Multiple Choice

Loss Transfer means:

• A) shifting the financial consequences of a loss to a third party
• B) shifting the financial consequences of a loss to a self-insurance program
• C) shifting the financial consequences of a loss to a well-diversified portfolio
• D) shifting the financial consequences of a loss to more wealthy group of people

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Definitions:

Maximum Price

A price ceiling set by a governing body, above which a particular good or service cannot legally be sold.

Economic Impact

The effect of an event, policy, or market change on the economy, which can include impacts on employment, income levels, and economic growth.

Routine Maintenance

Routine maintenance involves regular and basic upkeep to maintain equipment, systems, or facilities in operational condition, preventing major failures or breakdowns.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product.