From the Standpoint of the Insured, Deductibles in Insurance Contracts

question 54

Multiple Choice

From the standpoint of the insured, deductibles in insurance contracts are a form of:

• A) risk transfer
• B) loss control
• C) risk retention
• D) risk avoidance

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Definitions:

Theory of Planned Behavior

A theory that predicts an individual's intention to engage in a behavior at a specific time and place, considering the attitude toward the behavior, subjective norms, and perceived behavioral control.

Subjective Norms

Individual beliefs about what significant people in their life think they should do, influencing their intentions and behaviors.

Social Psychological Theories

Theories developed within social psychology to explain how individual behavior and thought are influenced by social conditions and processes.

Reliability

The degree to which an assessment tool produces stable and consistent results over time.