One of the Problems with No-Fault Automobile Insurance Is That

question 30

Multiple Choice

One of the problems with no-fault automobile insurance is that it

• A) results in higher court costs.
• B) results in higher jury awards to victims.
• C) doesn't penalize drivers who cause accidents to the degree that they should be.
• D) hasn't resulted in lower costs to insurance companies or lower auto insurance premiums.

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Definitions:

Profit and Loss

A financial statement that summarizes the revenues, costs, and expenses incurred during a specific period, usually a fiscal quarter or year.

Comparative Purposes

For purposes of comparison, often to analyze differences or similarities between two or more items or situations.

External Data

Information that originates outside the organization and is used for analysis or decision making.

Economic Analyses

The systematic approach to determining the optimum use of scarce resources, involving comparison of two or more alternatives in achieving a specific objective under the given assumptions and constraints.