From the Viewpoint of the Insurer,all of the Following Are

question 13

Multiple Choice

From the viewpoint of the insurer,all of the following are characteristics of an ideally insurable risk EXCEPT

• A)The loss must be accidental.
• B)The loss should be catastrophic.
• C)The premium must be economically feasible.
• D)There must be a large number of exposure units.

---

Definitions:

Just Noticeable Difference (Jnd)

The least alteration in a stimulus that is just noticeable by an organism.

Absolute Threshold

The minimum stimulus intensity required for detection by a sense organ, signifying the point at which a stimulus becomes perceptible to the senses.

Noticeable Threshold

A threshold is the level at which a stimulus becomes sufficiently strong to produce a discernible effect or reaction.

Range Threshold

The minimum and maximum values within which a particular sensory stimulus, action, or phenomenon is perceptible or has an effect.