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Social and Economic Impacts of Insurance Quiz

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Social and Economic Impacts of Insurance Quiz

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Questions and Answers

What is one of the major social and economic benefits of insurance?

Decrease in job opportunities

Increase in fraudulent activities

Reduction of investment funds

Enhancement of credit (correct)

Which of the following is a major social cost associated with insurance?

Indemnification for loss

Loss prevention

Cost of doing business (correct)

Reduction of worry and fear

What is one characteristic of an insurance plan or arrangement based on the provided definition?

Risk multiplication

Payment for intentional losses

Pooling of gains

Payment of fortuitous losses (correct)

Which aspect is NOT considered as one of the major social costs of insurance?

<p>Enhancement of credit (C)</p> Signup and view all the answers

What benefit does insurance provide through 'Source of investment funds'?

<p>Facilitation of investing capital (B)</p> Signup and view all the answers

Social and Economic Impacts of Insurance Quiz

Choose a study mode

Podcast

Questions and Answers

What is one of the major social and economic benefits of insurance?

Which of the following is a major social cost associated with insurance?

What is one characteristic of an insurance plan or arrangement based on the provided definition?

Which aspect is NOT considered as one of the major social costs of insurance?

What benefit does insurance provide through 'Source of investment funds'?

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