Source: https://player.vimeo.com/video/245265667

1/ A consumer purchases insurance, which of the following is true?

Group of answer choices

A consumer transfers risk to an insurer.

An insurer transfers risk to a consumer.

The government transfers risk to a consumer .

A consumer transfers risk to the government.

2/ Consumers pay___________to insurers when purchasing insurance.

Group of answer choices

premiums.

bonds.

stocks.

deductibles.

3/ What is the relationship between deductible and premium?

Group of answer choices

There is no relationship.

The higher the deductible, the higher the premium.

The lower the deductible, the lower the premium.

The higher the deductible, the lower the premium.

4/ How does the insurance business work?

Group of answer choices

Underwriters assess risks.

All answers are correct.

Insurers pool premiums to pay for potential losses and expenses.

Insurers charge higher premiums in risky areas.

5/ There are many types of insurance available.

Group of answer choices

True

False