The Requirement That Losses Should Be Accidental and Unintentional in Order

question 9

Multiple Choice

The requirement that losses should be accidental and unintentional in order to be insurable results in which of the following?
I.Decrease in moral hazard
II.More accurate prediction of future losses

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

Distinguish between visual representations that exaggerate or minimize data variability in line charts.

Identify key graphical tools used for showing trends over time.

Apply concepts of accurate graphical representation to correct misleading data visuals.

Understand the effect of axis manipulation on the perception of trends in line charts.

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Definitions:

Breach of Contract

Failure by one or more parties to fulfill the obligations stipulated in a contract.

Manufacturing Process

The series of actions or steps taken to produce a finished product from raw materials.

Minimizes Loss

A strategy or approach aimed at reducing the impact or severity of potential financial losses in various contexts.

Objective

In legal and business terms, it refers to the external, observable aspects of something as distinct from internal thoughts or feelings.