Which of the Following Insurance Practices Attempts to Minimize the Adverse

question 23

Multiple Choice

Which of the following insurance practices attempts to minimize the adverse selection problem insurance companies face?

• A)prevention of fraud
• B)risk-based premiums
• C)restrictive provisions
• D)deductibles

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Definitions:

Networking Opportunities

Chances for individuals to meet and interact with others in their field or industry to exchange information and develop professional or social contacts.

Support

The act of providing assistance, encouragement, or resources to individuals or groups.

Vision

A statement or concept relating to the future direction or ultimate goals of an individual, organization, or company, expressing long-term objectives.

Values

Fundamental beliefs or standards of behavior that guide decisions and actions by expressing what is important and worthwhile.