1. Insurance is a risk treatment method that is best used for losses that happen frequently, and of which the severity is low. (T/F) 2. The loss exposure resulting from the Covid-19 pandemic is a pure and diversifiable risk. (T/F) 3. Adverse selection can result from high-risk drivers who obtain car insurance at standard rates. (T/F) 4. During an insurance soft market condition, a Company's Risk Manager would prefer to obtain more insurance coverages and renegotiate existing terms. (T/F) 3. If a risk manager is estimating the frequency and severity of losses, this means he is: a. Identifying risks b. Measuring and analyzing risks C. Treating risks d. Implementing controls 4. Samsung had to compensate customers when they recalled the Galaxy Note 7 phones from the market due to the battery overheating and causing fires. This loss exposure is considered a a Liability loss exposure b. Crime loss exposure c. Property loss exposure d. Intangible property loss exposure