Top Posters
Since Sunday
j
3
s
3
j
2
J
2
e
2
n
2
t
2
d
2
b
2
t
2
J
2
b
2
Home Q & A Board Other Fields Homework Help Business Insurance
New Topic  
medulla medulla
wrote...
Go to Answer
Posts: 653
Rep: 0 0
7 years ago
Which of the following is a false statement?
A) Risk averse people will pay an insurance premium that is greater than the mathematically fair chance of loss in order to relieve themselves of uncertainty.
B) A risk seeker is willing to assume risk.
C) The mathematically fair price for insurance is the objective risk for the insurer multiplied by the maximum possible loss.
D) Insurance is never a mathematically fair trade because the insurer adds several operating and other costs to loss costs when it calculates the premium.
Textbook 
Introduction to Risk Management and Insurance

Introduction to Risk Management and Insurance


Edition: 10th
Authors:
Read 154 times
1 Reply
Replies
Answer verified by a subject expert
giddugiddu
wrote...
#1
Posts: 432
Rep: 8 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

medulla Author
wrote...

7 years ago
You make an excellent tutor!
kater28
wrote...

Yesterday
This site is awesome
husne
wrote...

2 hours ago
Thanks for your help!!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  789 People Browsing
 102 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 3589
  
 8056
  
 1730
Your Opinion
Do you believe in global warming?
Votes: 488
Previous poll results: Which country would you like to visit for its food?