(Solved): Question 2 of 4 Adverse selection occurs when 1. an uninsurable or high-risk applicant seeks a li ...

Question 2 of 4 Adverse selection occurs when 1. an uninsurable or high-risk applicant seeks a life insurance policy at a standard premium rate 2. life insurance premiums remain high for all insureds 3. substandard risks are declined a life insurance policy 4. insurers select only the lowest risk applicants