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AINS 21 | 113 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+

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Which one of the following is an opportunity cost of insurance? - An insured's funds that could be invested elsewhere if purchasing insurance were not necessary is an example of an opportunity cost of insurance. Which one of the following statements is correct regarding the benefits of insurance? - Contractors must usually provide evidence of liability insurance before a construction contract is granted. Investment income helps keep insurance premiums at a reasonable level. Which one of the following describes the characteristics of a mutual insurance company? - C. A corporation owned by policyholders that provides insurance to its policyholders. The primary role of insurance is to - D. Indemnify individuals and organizations for covered losses. Sometimes the existence of insurance encourages losses. The result of this phenomenon is that it - D. Increases the total cost of insurance

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