6. A financial contract in which a small certain payment is exchanged in order for someone to be indemnified against large uncertain losses: a. Derivative Contract Profit or policyholder surplus b. Financial Swap Arrangement c. Insurance d. Subordinated Debenture e. Mutual Fund 7. A pure risk is one where: a. The result can only be a loss or no loss b. The result can be a gain or loss c. The result can be only a gain or no gain d. The result cannot be predicted e. The result is subject to chance 8. The criteria for ideally insurable losses include all of the following EXCEPT: a. Accidental or unintentional Losses. c. A small carefully defined group of exposures. d. A large number of risk exposures. e. low probability of catastrophic loss