This is my Exam 11 Risk Management And I need you guys' accurate and quick answer. Thank you so much for your hard work. Have a great day! I got only 30min. Please answer me ASAP. Thanks!! Please help me.. Thank you again.!!!!!!

D Question 1 1 pts If a household refuses to own a car because of the risk involved, how are they choosing to deal with risk? Time Ru Attempt 36 Minu O Risk retention Risk avoidance Risk transfer O Risk reduction Loss control Question 2 1 pts Which of the following statements regarding disability insurance is true? O You are more likely to need and use life insurance than you are to need/use disability insurance. Different providers of disability insurance use the same definition of disabilty to determine benefits. Disability insurance is a way for households to insure against the loss of the return on human captial investments. Disability insurance is meant to replace income of the insured when the loss of income is because of unemployment O Typically the longer the waiting period to recieve benefits the higher the insurance premium D Question 3 1 pts All of the following are steps in evaluating life insurance needs based on the income approach EXCEPT: the potential for their children or surviving spouse to pick up some of the "economic slack" by earning additional income O a pay off amount of any debts O All of the above are included in the income approach O estimating the economic value of home production done by the insured family member O Social Security survivor's benefits D Question 4 1 pts Large deductibles on insurance policies: raise administrative costs for insurance companies support the philosophy of insuring against any risk, no matter how small O raise premiums for policy holders O provide an incentive for the policy holder to reduce his/her risk O are never in the policy holder's best interests from an economic perspective D Question 5 1 pts Which of the following scenarios best shows the Large Loss Principle as expressed in lectures: O Having a low deductible health insurance policy O Including the value of the land in the amount of coverage on a homeowner's policy Having a shorter waiting period for disability insurance Having comprehensive and collision coverage above the value of your car O Self insuring for smaller losses and purchasing insurance for large lossesD Question 6 1 pts The purpose of life insurance is to: provide retirement income D insure against the loss of human capital due to the premature death of an income-generating family member have a sufficient inheritance to leave your financial dependents O have enough money for the surviving spouse to buy an RV and travel the country to make sure your family is taken care of if one family member dies D Question 7 1 pts Which of the following statements regarding reassessing life insurance needs is true? O Families should reassess their life insurance needs once every ten years. Families should reassess their life insurance needs when they file their taxes. Families should reassess their life insurance needs if another dependent is added. O Families should buy all of the life insurance they qualify for, no need to reassess. There is no real need to reassess life insurance needs after a household determines their initial need. D Question 8 1 pts Self insurance is defined as: O a situation where the household chooses to set aside resources that can be used to cover losses O the pooling of risk with other like-minded consumers O participation in the insurance market O protecting your financial dependents by buying automobile insurance O buying life, disability, and health insurance D Question 9 1 pts Which of the following scenarios would work for risk pooling in the insurance market? Risk categories are created by behaviors within the household's ability to control. O The probability of loss is small but the consequences is small as well. O Households withhold information that could make the insurance premiums increase. Risk pooling does not happen O Households and insurance companies are equally knowledgeable regarding the risk the household carries D Question 10 1 pts Which of the following is included in the expense approach method to life insurance? O All of the options are steps in the expense approach O Identify the loss of home production done by insured Including debt pay off amounts Increase insurance amount 10% for each financial dependent O Re-evaluation each year D Question 11 1 pts All of the following statements regarding whole life insurance policies are true EXCEPT: O Whole life insurance is a form of pure insurance O Whole life insurance is insurance along with an investment Whole life insurance premiums are constant over its life O Whole insurance can be used as a form of forced savings O Premiums go towards covering the insurance costs and towards an investment