When Losses Are Material and There Is a Strong Likelihood

question 14

Multiple Choice

When losses are material and there is a strong likelihood that they will occur:

• A)Insurance may not be the appropriate choice
• B)Insurance is always prudent
• C)Overhead costs are lower
• D)Insurance companies will refuse to provide insurance
• E)None of the above

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Definitions:

Social Mobility

The movement of individuals, families, or groups through a system of social hierarchy or stratification.

Caste System

A form of social stratification characterized by hereditary status, fixed and lifelong occupation, and social hierarchy, often associated with traditional societies.

Social Structure

The organized patterns of social relationships and social institutions that together compose society, shaping behavior and social interactions.

Gender Equality

The state of equal access to resources and opportunities regardless of gender, including economic participation and decision-making, and the state of valuing different behaviors, aspirations and needs equally, irrespective of gender.