n NISM Certifications
NSM General NISM
Medium

Why is insurance considered a social security tool?

Practice question from IC 38 Mock Test 12 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Because it increases individual wealth

  2. Because it protects against financial losses due to unforeseen events

    Correct answer

  3. C

    Because it provides government benefits

  4. D

    Because it is mandatory by law

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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