Ciin Practice Test & Exam Prep | Nigeria

How does insurance perform its dual role of risk transfer and financial stabilization in the Nigerian economy?

By eliminating all physical perils and guaranteeing business profits By pooling funds to pay for losses while investing premium reserves in national development By forcing all speculative ventures to become pure risks under statutory control By taking over the management of insured businesses during economic downturns

Correct Answer:

By pooling funds to pay for losses while investing premium reserves in national development

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