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Risk Transfer Quiz
5 Questions
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Risk Transfer Quiz

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@FaithfulSodalite

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Questions and Answers

What is the primary focus of risk transfer?

  • Sharing risks with multiple parties
  • Assuming all liabilities personally
  • Shifting financial risks to another party (correct)
  • Avoiding risks altogether

    • What is the common method of transferring risk mentioned in the text?

  • Risk avoidance
  • Purchasing insurance (correct)
  • Risk retention
  • Self-insuring

    • What is the fee charged by insurance companies for accepting risks?

  • Co-payment
  • Insurance premium (correct)
  • Deductible
  • Out-of-pocket maximum

    • In the given example, what does Mr. Peter's insurance cover for his motorbike primarily represent?

    <p>Risk transfer</p> Signup and view all the answers

    What is the duration of Mr. Peter's insurance cover for his motorbike, as per the example provided?

    <p>One year</p> Signup and view all the answers

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