Q. Why is transferring the risk to an insurer important in managing the secondary burden of risk?

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Q. Which among the following is a secondary burden of risk?

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Q. What is the principle that underlies insurance contracts?

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Q. How do insurance companies reduce risk in financial markets?

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Q. In the context of risk reduction, what does "Diversification" involve?

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Q. How do funds flow in the principle of mutuality?

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Q. What creates a potential corpus of money in insurance contracts?

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Q. What makes insurance unique among financial products?

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Q. What is "risk avoidance" in the context of risk management?

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Q. What is "self-insurance" in risk management?

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Q. Which risk management approach is described as more practical and relevant than risk avoidance?

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Q. What does "risk reduction and control" involve?

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Q. What are measures aimed at reducing the chance of occurrence of loss causing events called?

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Q. What are measures to reduce the degree of loss, in case a loss happens, referred to as?

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Q. What does "Risk reduction" involve?

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Q. Which of the following is an example of risk reduction?

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Q. What does "Risk financing" refer to?

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Q. What is "self-insurance" in risk financing?

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Q. What is the key difference between insurance and assurance?

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Q. What is the distinguishing feature of "Assurance" in the context of life insurance?

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