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Loss prevention and control:

Defective electrical wiring that may lead to a fire is an example of a:

Mr. VanDelinder buys a $50,000 car.  Rather than buying insurance on the car, he sets aside $30,000 in a savings account to cover possible losses due to any accident.  He is:

Which of the following are examples of loss REDUCTION techniques? I.       wearing your seat belt while driving your carII.     polio vaccinationsIII.    keeping poisons locked up and out of the reach of small childrenIV.    wearing a helmet while skateboarding

All of the following are costs to society arising from an insurance system’s operation except:

The United States’ insurance industry employs:

All the following are true about underwriting except:

Insurance regulations require legal reserves and surplus because

Purchasing insurance is the method of                 risk

The law of large numbers states that as the number of exposure units increases: