{"id":32135,"date":"2024-04-15T08:56:35","date_gmt":"2024-04-15T08:56:35","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=32135"},"modified":"2024-04-15T08:56:35","modified_gmt":"2024-04-15T08:56:35","slug":"which-of-the-following-are-true-i-insurance-is-necessary-to-cover-the-risk-of-living-too-long-ii-insurance-helps-one-to-be-less-dependent-on-others","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-are-true-i-insurance-is-necessary-to-cover-the-risk-of-living-too-long-ii-insurance-helps-one-to-be-less-dependent-on-others\/","title":{"rendered":"Which of the following are true? I. Insurance is necessary to cover the risk of living too long. II. Insurance helps one to be less dependent on others."},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6aaaaf2686d92\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    Only I                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    Only II                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"true\">\r\n                    Both I and II                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    Neither I nor II                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: <strong>C. Both I and II<\/strong><\/p>\n<p>Insurance is a contract between an insurer and an insured, where the insurer agrees to pay a sum of money (the benefit) to the insured or a designated beneficiary in exchange for a premium, upon the occurrence of a specified event.<\/p>\n<p>There are many different types of insurance, but they can be broadly divided into two categories: personal insurance and commercial insurance. Personal insurance covers individuals and their families, while commercial insurance covers businesses and other organizations.<\/p>\n<p>Some of the most common types of personal insurance include life insurance, health insurance, property insurance, and car insurance. Some of the most common types of commercial insurance include liability insurance, property insurance, and workers&#8217; compensation insurance.<\/p>\n<p>Insurance is important because it helps to protect people from <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n      <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div>       <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> financial loss. If you have a car accident, for example, your car insurance will help to pay for the damage to your car and the other person&#8217;s car. If you get sick, your health insurance will help to pay for your medical bills. And if you die, your life insurance will help to provide for your family.<\/p>\n<p>Insurance can also help to reduce your financial risk. If you have a mortgage, for example, your mortgage insurance will help to pay off your mortgage if you die or become disabled. And if you have a business, your business insurance will help to protect your business from financial loss.<\/p>\n<p>In conclusion, insurance is important because it helps to protect people from financial loss and reduce their financial risk.<\/p>\n<p>Option I is true because insurance can help to cover the risk of living too long. For example, if you have a life insurance policy, your beneficiaries will receive a benefit when you die. This can help to provide for your family financially even if you live longer than expected.<\/p>\n<p>Option II is also true because insurance can help one to be less dependent on others. For example, if you have health insurance, you will not have to pay for your medical bills out of pocket if you get sick. This can help to reduce your financial burden and make you less dependent on others for financial assistance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the following are true? I. Insurance is necessary to cover the risk of living too long. II. 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