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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Q. Why is the term "Assurance" used in the case of life insurance?

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Q. In most markets, including India, how are the terms "Insurance" and "Assurance" commonly used?

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Q. Which among the following is a method of risk transfer?

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Q. What does the term 'Risk' refer to in the context of insurance?

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Q. What factors determine the cost of an expected loss in insurance?

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Q. How does the cost of risk vary based on probability and severity?

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Q. How does insurance function as a risk management tool?

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Q. What does insurance protect individuals from?

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Q. What is one of the primary considerations when deciding whether to opt for insurance?

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Q. In what situation would insurance be most required?

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