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risk avoidance correct answers occurs when individuals evade risk entirely risk reduction correct answers occurs when chances of risk are lessened risk retention correct answers is being aware of the risks involved and taking precautions for financial protection. risk transference correct answers is the act of shifting the responsibility of risk to another in the form of an insurance contract. physical correct answers A bodily disease of endangerment, such as cancer, presents a _____ hazard. morale correct answers A mental trait, such as road rage, presents a ____ hazard. moral correct answers An unhealthy habit, such as smoking, presents a _____ hazard. avoidance correct answers Risk ___________ occurs when an individual eludes risk entirely. reduction correct answers Risk _____________ is when the chances of loss are lessened. retention correct answers Risk _____________ occurs when an individual takes precautions for protection by allowing another party to maintain a portion of the risk. transference correct answers Risk _______________ occurs when an individual shifts the responsibility of covering the risk to another. a provider correct answers an individual who is licensed, certified, or otherwise authorized North Carolina General Statutes or under the laws of another state to provide health care services in the ordinary course of business or practice of a profession or in an approved education or training program. government insurers correct answers social security (OASDI), social security hospital insurance, supplemental medical insurance, medicaid, workers' compensation, US armed services and veterans private insurers correct answers stock insurers, mutual insurers, reciprocal insurers, lloyds of london, risk retention groups, reinsurers, fraternal benefits societies, service insurers, home service insurers mutual life insurance correct answers The operating objective of a ____________________ company is to provide insurance to its owners (the policyholders) at the lowest possible net cost. demutualization correct answers is the process of converting a mutual insurance company to a stock insurance company