Introduction to Insurance Quiz

To guarantee a comfortable retirement

To avoid legal liabilities

To generate profit for insurance companies

To mitigate financial loss caused by unforeseen events (correct)

Pooling of risks (correct)

Elimination of all uncertainties

Guaranteed profit for the insured

Speculation on potential losses

Guaranteeing government subsidies

Stimulating consumer spending

Providing a safety net for businesses (correct)

Creating job opportunities in the insurance sector

<p>To transfer risk from the insured to the insurer</p> Signup and view all the answers

<p>Utmost good faith</p> Signup and view all the answers