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      Question

      What are moral hazards in underwriting?

      A Intangible human aspects of a risk, such as carelessness or dishonesty. Correct Answer Incorrect Answer
      B Tangible factors arising from the nature of the risk itself. Correct Answer Incorrect Answer
      C Financial condition of the insured. Correct Answer Incorrect Answer
      D The insured's past claims history. Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      Moral hazards refer to the increased risk of loss due to the insured's dishonest or careless behavior. Examples include intentionally causing a loss to collect insurance proceeds or failing to take reasonable precautions to prevent a loss.

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