Insurance Is Not a Good Option for Managing Risk When

question 93

Multiple Choice

Insurance is not a good option for managing risk when

• A)the probability of loss is very small.
• B)the benefits outweigh the costs.
• C)you want to protect your existing and future net worth.
• D)there is a likelihood that an event will cause a large financial loss.

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Definitions:

Creative Problem Solving

A method that uses innovative and imaginative approaches to find solutions to complex problems.

Career Development

An ongoing process of managing life, learning, and work over the lifespan to progress in one’s job and achieve personal career goals.

Stress Management

Techniques and strategies aimed at controlling a person's level of stress, improving everyday functioning, and maintaining overall well-being.

Performance Standard

A defined benchmark or criteria used to measure and evaluate the effectiveness or success of a task, employee, or process.