The following question appeared on an internal control questionnaire for sales.Next to each of the questions indicate the related assertion. 
Definitions:
Low Risk
Pertaining to situations or investments that have a minimal likelihood of loss or failure.
Insurance Market
The marketplace where individuals or entities can purchase insurance products to transfer risk from themselves to an insurance provider.
Adverse Selection
A situation in which one party in a transaction has more or better information than the other, leading to an imbalance that can result in market inefficiency or failure.
Insurance Premium
The amount of money an individual or organization pays for an insurance policy, providing coverage against specific risks over a defined period.
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