Q914
Characteristics of an individual which impact on risk (hazards) is classified into?
A.
Financial and non-financial hazard
B.
Physical and moral hazard
AnswerC.
Philosophical and metaphysical hazard
D.
Standard and non-standard hazard
Answer: Option B
Solution
Answer: Option B
Solution:
Characteristics of an individual which impact on risk (hazards) is classified into Physical and moral hazard. Physical hazards indicate those dangers of the subject matter of insurance which can be ascertained or identified by mere inspection of the risk.
Moral hazard indicates those dangers which relate to character, integrity and mental attitude of the insured.