The Financial Product Used for Transferring and Reducing Risk by Having

question 90

Multiple Choice

The financial product used for transferring and reducing risk by having a large number of people share in the financial losses suffered by members of the group is called

• A)insurance
• B)a premium.
• C)fortuitous
• D)a peril.

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Definitions:

Binge Drinking

The consumption of an excessive amount of alcohol in a short period of time, typically leading to acute intoxication.

Drinking Culture

A set of traditions and social behaviors that surround the consumption of alcohol in various societies.

Unequal Status

The condition of having differing levels of power, privilege, or social standing among individuals or groups within a society.

Psychologically Addicted

describes a condition where an individual feels a compelling psychological, but not physical, need to continue using a substance or engaging in behavior.