Associate PRM Practice Questions - PRMIA Associate Professional Risk Manager Certificate Exam

A 'moral hazard' refers to:

A physical condition that increases loss frequency A change in behaviour caused by the existence of insurance or another risk-transfer arrangement that increases the probability or severity of loss An ethical violation by a financial professional A natural-disaster exposure that cannot be priced

Correct Answer:

A change in behaviour caused by the existence of insurance or another risk-transfer arrangement that increases the probability or severity of loss

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