56. The problem of occurs when those most likely to get large insurance payoffs are the ones who want to purchase insurance the most. (a) asymmetric information (b) moral hazard (c) adverse selection (d) fraudulent behavior 57. To prevent adverse selection, health and life insurance companies may do all the following except (a) charge higher premiums to people with certain pre-existing health conditions. (b) require potential policyholders to submit medical records. (C) refuse to sell policies to people with certain pre-existing health conditions. (d) charge the same premiums to all policyholders 58 Which is not a management practice for reducing the problems of adverse selection and Which moral hazard in insurance? (a) deductibles (b) restrictive provisions (c) coinsurance (d) reinsurance 59. Insurance companies employ underwriters (a) as an alternative to higher deductibles. (b) to control the risky behavior of their policy holders. (c) to control the risk incurred on their behalf by agents. (d) to encourage the loyalty of exclusive agents. (e) to maintain the independence of independent agents