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Author Question: A group of farmers agreed that if any farmer suffered a property loss, the loss would be spread over ... (Read 345 times)

ts19998

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on: Jul 11, 2018
A group of farmers agreed that if any farmer suffered a property loss, the loss would be spread over the entire group. In this way, each farmer is responsible for the average loss of the group rather than the actual loss that each farmer sustained.
 
  Which characteristic of insurance is embodied in this agreement?
  A) pooling of losses
  B) fortuitous losses
  C) risk avoidance
  D) indemnification

Question 2

Which of the following is classified as casualty insurance?
 
  A) workers compensation insurance
  B) fire insurance
  C) marine insurance
  D) life insurance


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yotaSR5

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Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: A

Answer to Question 2

Answer: A


ts19998

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Reply 2 on: Jul 11, 2018
Excellent

emsimon14

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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