From the Viewpoint of an Insurer, the Prerequisites of an Ideally

question 43

Multiple Choice

From the viewpoint of an insurer, the prerequisites of an ideally insurable risk include all the following except:

• A) the loss must be capable of being determined and measured
• B) there must be a large, homogeneous group of exposure units
• C) the loss should not be subject to catastrophic hazard
• D) the peril should be such that the probability of loss is high

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Definitions:

Psychosocial Conflict

In Erikson's theory, a crisis or challenge affecting the social and psychological aspects of one's life at different stages of development.

Erikson

Refers to Erik Erikson, a psychoanalyst known for his theory on the psychosocial development of humans, suggesting that individuals go through eight stages from infancy to adulthood, with each stage presenting a unique challenge or crisis.

Industrious

Describes a person who is hardworking, diligent, and persistent in their efforts, often leading to productive outcomes.

Industrious

Characterized by hard work, diligence, and a strong work ethic.