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medulla medulla
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6 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:
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giddugiddu
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6 years ago
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medulla Author
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6 years ago
Thanks
Gorgio_De
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Yesterday
this is exactly what I needed
zsc999
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2 hours ago
Thanks
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