Which of the Following Is an Accurate Definition of "Insurance

question 33

Multiple Choice

Which of the following is an accurate definition of "insurance"?

• A) A savings account designed to protect you in the event of a rainy day
• B) A financial arrangement that redistributes the costs of unexpected losses among a pool of insureds
• C) A communist plot to destroy capitalist enterprise
• D) A contractual agreement in which the insurer agrees to pay the insured only if the insured requests the money

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Definitions:

Research Participants

Individuals or entities who take part in scientific studies, contributing data through their experiences or reactions.

Qualitative Research

A research strategy focused on understanding phenomena through the analysis of non-numerical data, such as interviews, observations, and texts.

Quantitative Research

A research method focusing on obtaining data through objective measurements and statistical, mathematical, or numerical analysis of data collected through polls, questionnaires, and surveys.

Interpretations

involve the process of explaining or understanding the meaning or significance of something, such as data, texts, events, or behaviors.