SECTION A > Multiple Choice (1 mark each = 30 Please bold, highlight or underline only ONE (1) answer 1) Insurance is based on the existence of 2pla. ess re okg lization pond. _200. c_200. mal busi |-Agric. nal bus scussion z 1205 a) legality of object. b) indemnity. c) loss. d) risk. 2) In an insurance sense, risk is a) always insurable. b) a hazard. c) the chance of loss. d) uncertainty. 3) Which of the following is NOT a hazard? a) Slippery floors. b) Faulty heating systems c) A residence without a security system. d) A high-crime neighbourhood. 4) Pure risk a) entails a chance of loss. b) is speculative in nature. c) is the equivalent of peril