For a Risk to Be Insurable It Must Meet Which

question 78

Multiple Choice

For a risk to be insurable it must meet which of the following criteria?

• A) The loss must be financially measurable.
• B) The potential loss should be insignificant.
• C) The loss must be under the control of the insured.
• D) There must be very few exposures to the peril in question.

Identify the components and functions of different online trading communities and platforms.

Understand the significance of buying situations that require changes in product specifications, price, delivery schedules, or suppliers.

Recognize the contribution of e-marketplaces to facilitating real-time exchanges of information, money, products, and services.

Understand the concept of buy classes and their implications on organizational buying behavior.

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Definitions:

Relative Luminance

A measure of the amount of light that is reflected from, or emitted by, a surface, normalized to a scale from 0 to 1, based on human visual sensitivity.

Size Constancy

Size constancy is a perceptual phenomenon where the perceived size of an object remains constant despite changes in the distance or size of the image it projects on the retina.

Perceptual Adaptation

Perceptual adaptation refers to the ability of the human brain to adjust to changes in sensory input, allowing for normal perception in spite of alterations or impairments.

Interposition

A visual cue in depth perception that occurs when one object partially blocks or covers another, indicating that the former is closer to the viewer.