Afraternal benefit society has each of the following characteristics except

a. incorporated
b. without capital stock
c. exists for profit
d. exists for the benefit of its members

Answer is option C, i.e. Exists for profit.

Explanation:

A fraternity benefit society or benefit society are incorporated body that exist to provide benefits and insurance during any sundry difficulties to its various registered member. These societies do not have any beforehand capital stock with them. And also these societies do not operate for profit motive as their ultimate help is to provide financial support to its members in times of need.

the answer is risk management planning

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