Which of the Following Statements Regarding Insurance and Gambling Is

question 31

Multiple Choice

Which of the following statements regarding insurance and gambling is (are) true?
I.Insurance is used to handle existing pure risks,while gambling creates a new speculative risk.
II.Insurance usually involves risk avoidance,while gambling typically involves only risk reduction.

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

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Definitions:

Memos

Short written messages typically used within an organization to communicate policies, procedures, or official business.

E-Mail Messages

Digital messages sent through electronic mail systems.

External Customers

Individuals or entities outside of an organization that receive its products or services.

Official Instructions

Directives or guidelines issued by an authoritative body or individual, expected to be followed accurately.