Risk Standard in insurance represents average risk individuals and does not require additional qualifications as suggested in the options provided.
Risk Standard in insurance refers to individuals who are considered to have an average risk level, similar to others in their age group and lifestyle. It represents the majority of the population as it reflects the typical risk profile.
Contrary to the option presented, risk standard does not require an additional degree or education to qualify for this category. It is often associated with lower premiums compared to substandard risk, as it is considered a standard level of risk.
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