Insurable interest is required for all of the following reasons EXCEPT:
(a) to prevent gambling
(b) to measure the extent of loss
(c) to reduce premiums
(d) to reduce moral hazard
Ans: (c) to reduce premiums
Business
You might also like to view...
Which mode is not the “best” or “worst” on any of the six attributes (e.g., capability, flexibility, etc.) that were used to compare transport modes?
a. railroads b. water carriers c. pipelines d. motor carriers
Business
Average inventory carrying costs tend to rise in __________ to the level of the inventory
a. indirect proportion b. inverse proportion c. direct proportion d. exponentially e. marginal proportion
Business