AINS 101- QUESTION WITH 100 % CORRECT

ANSWERS | VERIFIED.

Question 1

Which statement BEST describes the fundamental purpose of

insurance?

A. To eliminate all uncertainty from an individual's or organization's

activities

B. To transfer and pool financial consequences of certain risks among

many parties

C. To guarantee that every insured will receive a financial profit after a

loss

D. To prevent losses from occurring

ANSWER: B. To transfer and pool financial consequences of certa...