Insurance Is Not a Good Option for Managing Risk When

question 57

Multiple Choice

Insurance is not a good option for managing risk when

• A) the probability of loss is very small and the expected loss is 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:

Promotion

Marketing efforts aimed at increasing awareness of a product or service to boost sales and enhance brand visibility.

Offering

What you are offering to a particular customer segment, the value generated for those customers, and how you will reach and communicate with them.

4 Ps Framework

A marketing model identifying Product, Price, Place, and Promotion as the four key components of a marketing strategy.

Pitch

A presentation or proposal made to potential customers, investors, partners, or collaborators, aiming to persuade or inform about a product, service, or idea.