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    Question

    _______ in the insurance industry involves an

    applicant gaining insurance at a cost that is below their true level of risk.
    A Reverse selection Correct Answer Incorrect Answer
    B Adverse selection Correct Answer Incorrect Answer
    C Consumer Selection Correct Answer Incorrect Answer
    D Buyer Selection Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Adverse selection in the insurance industry involves an applicant gaining insurance at a cost that is below their true level of risk.

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