In the Context of Insurance,moral Hazard Refers To

question 24

Multiple Choice

In the context of insurance,moral hazard refers to:

• A) the tendency for people to behave in a riskier way after they have acquired insurance.
• B) the tendency for high-risk individuals to seek out more insurance than low-risk individuals.
• C) when people organize themselves in a group to collectively absorb the cost of the risk faced by each individual.
• D) when risks are shared across many different assets or people, reducing the impact of any particular risk on any one individual.

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Definitions:

League Covenant

The founding document of the League of Nations, outlining its principles and structure for maintaining world peace post-World War I.

Collective Security

An international agreement for mutual defense, where participating countries pledge mutual aid and protection in case any member is attacked.

World Court

Informally known as the International Court of Justice, it's the principal judicial organ of the United Nations, tasked with settling legal disputes between states.

Peace Movement

A social movement that seeks to achieve ideals such as the ending of a particular war (or all wars), minimize inter-human violence, and abolish weapons of mass destruction.