Traditionally, risk has been defined as O a. any situation in which the probability of loss is one b. the probability of a loss occurring. O c uncertainty concerning the occurrence of loss. O d. any situation in which the probability of loss is zero. Characteristics of a fortuitous loss include which of the following? 1. The loss is certain to occur. II. The loss occurs as a result of chance. O a. I only O b. both I and Och only Od neither nori The tendency for unhealthy people to seek life or health insurance at standard rates is an example of a. fundamental risk. O b. attitudinal hazard. O c. adverse selection. O d. moral hazard. The probability of drawing making from a thoroughly shuted duck of playing cards is one-thirteenth there are comes out of 52 cards). This type of probability is known as O a subjecte probability Ob objective risk O chance of Od obictive probably We coloctum, nice the poem collected entered to pay expensesmedtely the funds can be loaned to business caseros facture bodyby Ordinancer for los preven Ohinem Ouvir sound The Arabian insurance company is considering Insuring two risks the Company has not previously insured: War and Fire. Considering the requirements of privately insurable risks, will they be able to write insurance for : a. Wan (2 marks) b. Fire 2 (2 marks)