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IRM 4030 EXAMS BUNDLE | Questions with 100% Correct Answers)
IRM 4030 EXAMS BUNDLE | Questions with 100% Correct Answers)
[Show more]IRM 4030 EXAMS BUNDLE | Questions with 100% Correct Answers)
[Show more]Traditionally, risk has been defined as 
A) any situation in which the probability of loss is one. 
B) any situation in which the probability of loss is zero. 
C) uncertainty concerning the occurrence of loss. 
D) the probability of a loss occurring. 
D) the probability of a loss occurring.
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Add to cartTraditionally, risk has been defined as 
A) any situation in which the probability of loss is one. 
B) any situation in which the probability of loss is zero. 
C) uncertainty concerning the occurrence of loss. 
D) the probability of a loss occurring. 
D) the probability of a loss occurring.
Which of the following statements about reinsurance is true? - ANSWER The insurer 
transferring business to a reinsurer is called the ceding company. 
All of the following are reasons for a primary insurer to use reinsurance EXCEPT - 
ANSWER to increase the unearned premium reserve.
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Add to cartWhich of the following statements about reinsurance is true? - ANSWER The insurer 
transferring business to a reinsurer is called the ceding company. 
All of the following are reasons for a primary insurer to use reinsurance EXCEPT - 
ANSWER to increase the unearned premium reserve.
When comparing the variability (or relative dispersion) of two random variables, the best 
measure is... 
A. SD 
B. Mean 
C. Coefficient of variation 
D. Correlation - ANSWER C
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Add to cartWhen comparing the variability (or relative dispersion) of two random variables, the best 
measure is... 
A. SD 
B. Mean 
C. Coefficient of variation 
D. Correlation - ANSWER C
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